India Witnessed Addition Of 1,600 New Tech Start-Ups,12 New Unicorns In 2020: NASSCOM Report

Industry body NASSCOM's report with Zinnov has highlighted that India in 2020 saw the addition of 1,600 new start-ups in the tech start-up ecosystem, while a record 12 of the existing ones emerged as the new entrants into the coveted unicorn club, reports Business Standard.

The report titled "Indian Tech Start-up Ecosystem – On the March to Trillion Dollar Digital Economy" has noted that the nation's technology start-up base is witnessing a steady growth at a rate of 8-10 per cent year-on-year.

The report also notes that as many as 2,100 start-ups leveraged deep-tech in 2020, which is up from 1,600 figure from 2019. It also states that India's potential unicorn pipeline stays strong with 1.5x growth since 2019.

The report also emphasised that 2021 promises to be a positive year for Indian start-ups which not only managed to stay afloat amidst uncertainties after the pandemic outbreak but also strategically strengthened their playbook by converting the crisis into opportunity.

The Report noted that 2021 would likely witness India march steadily towards the goal of becoming a trillion-dollar digital economy.