2020 is correctly being called the ‘technology year’. With addition of more than 1,300 startups last year, India continues to reinforce its position as the third largest startup ecosystem in the the world, according to IT industry body Nasscom. The start-up landscape in the country is becoming the epitome of innovation, with companies bringing out solutions that are aimed at solving locally relevant issues. The trend witnessed over the year was that start-ups are driving focus more towards the B2B space and almost half of the country's start-ups are offering enterprise focused services.
Moving forward to this year, investors and industry professionals should feel optimistic about the future. They’re building something incredible, and with each passing year, it’s coming into view. However, to simulate innovation, government and corporates need to focus on increasing their role as prominent stakeholders playing the part of venture capitalists and providing the appropriate market access, funding, and guidance to seed stage start-ups.