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Home/Magazine Archive/November 2019 (Vol. 62, No. 11)/The Rise of the Indian Start-Up Ecosystem/Abstract

India Region Special Section: Big trends

The Rise of the Indian Start-Up Ecosystem

By Charles Assisi, Avinash Raghava, NS Ramnath
Communications of the ACM, November 2019, Vol. 62 No. 11, Pages 82-87
10.1145/3344432
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individuals wearing shirts of Indian restaurant aggregator Zomato — Credit: Shutterstock

Walk into any one of the many start-up events organized across India, and inevitably the image of an Indian bazaar comes to mind: people rushing around, shouting, bargaining, answering phones with great excitement, laughing loudly, boasting, blushing, and generally being optimistic, as if they are at the beginning of a rising trend of well-being.

Such optimism might seem justified. According to data compiled by Fortune magazine,^a from just eight 'unicorns' in 2015, the number of start-ups in India valued at more than $1 billion has grown to 26. What is interesting is that in 2018 alone, India added eight unicorns to the club.

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