Delhi is start-up hotbed: Most unicorns, active startups from NCR; total valuation at $50 billion

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Updated: September 10, 2019 1:38:08 PM

National capital Delhi is a start-up hotbed and most number of Indian unicorns have emerged from the city.

Govt relaxes norms for shares with differential voting rights to boost startupsDelhi has also seen the highest number of active start-ups in the country.

National capital Delhi is a start-up hotbed and most number of Indian unicorns have emerged from the city. With over 7000 start-ups from the region, Delhi has also seen the highest number of active start-ups in the country and now the valuation of the city’s start-ups is about $50 billion, according to TIE Delhi NCR start-up report released on Tuesday. Also, with the pace that the start-up ecosystem is growing and with appropriate interventions, “Delhi-NCR will become one of the top five global start-up hubs with 12,000 start-ups, 30 unicorns and cumulative valuation of about $150 billion by 2025,” the report added.

However, while 1657 start-ups were founded in 2015 in NCR, the same has only gone downward since then and in the first half of the current year, only 142 new start-ups have emerged. To give a fillip to start-ups ecosystem, several issues need to be addressed, “including the need for a lot more seed and early-stage funding, creating more affordable co-working spaces, increasing the number and quality of accelerators and incubators, developing deeper pools of technical talent and developing sector-specific policies,” the TIE, Zinnov report said. 

Delhi-NCR has churned out the most number of unicorns in India and since 2013, at least one unicorn has emerged out of the region every year. With a total unicorn count of 10, Delhi has left behind India’s Silicon Valley Bengaluru, and other prominent cities including Mumbai, Chennai and Pune. On an average, it took 5-6 years for Delhi’s unicorn companies to achieve the feat. This includes Ritesh Agarwal-founded Oyo Rooms, Vijay Shekhar Sharma’s Paytm, Delhivery, Hike, Rivigo, Deppinder Goyal’s Zomato, Policybazaar, Snapdeal, ReNew Power and Paytm Mall. 

Further, Delhi-NCR is also home to the three out of the four most valuable listed internet companies. This includes Infoedge with the market capitalization of $3670 million, Make My Trip with m-cap of $2420 million and India Mat with the valuation of $490 million. Only JustDial from the list does not belong to NCR. 

India is already the third-largest destination for start-ups in the world and is soon expected to lead as a unicorn destination, a joint report by CREDAI, CBRE said in August. 

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