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2015: A year of start-ups

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With the number of startups rising in the Indian market and the start-up ecosystem getting better and bigger, the year 2015 has seen a lot of ups and downs but if we do a roundup of the year, it will not be an exaggeration to say that 2015 has been a year of start-ups and enormous fundings. Looking back, the year has been a landmark year for India’s tech startup landscape, with a total of 114 startups that failed series A rounds by December in the calendar year, with total funding amounting to $542 million (roughly Rs. 3,595 crores).With this, the average funding round in a Series A comes to $4.75 million (roughly Rs. 31.5 crores).

The present day India is driven by young entrepreneurs and their creative innovations. About 4100 start-up enterprises are functional in India with the figures likely to go up to 11,500 by 2020 and is expected to create over 2 lakh jobs.

With over 125 million active internet users, India possesses an ecosystem that provides ample space for a thriving start-up industry and young entrepreneurs.
Youngsters around the country are coming up with innovative ideas and setting up their own business units.

Noida-based `Inshorts’, founded by three young engineering students, has a team that manually curates and summarizes news into a crisp 60-word story for busy readers in categories like national, business, sports, technology, and so on.

Deepit Purkayastha, Co-founder, Inshorts share his views on his idea of a start-up, “We had seen in our peer group that people were not in a habit of reading news. Then we made ourselves understand that a person only browses the headline of the stories or the lead paragraph, so after understanding this behaviour we made our product. We launched first our Facebook page in April, 2013 and in Sep, 2013 we launched our android app.”

The company has a staff of around 60 people with the average age of employees between 20 and 25 years. The young employees are happy to be associated with the start-up. One of the employees Manish who left his job with a big media establishment says “I was bored working with a traditional media organization and I wanted to explore new world of start-ups, hence I joined Inshorts”. Another employee says that there is a huge potential in startup industry “I decided to associate with start-up because I see a lot of growth potential over there for youngsters like me who are new to the industry”.

Taking a cue from Prime Minister Narendra Modi’s call on ‘ Start-up India, Stand-up India’ project, more and more youngsters are taking up business.

Startup India project was launched by the government to promote bank financing for startups and offer incentives to boost entrepreneurship and job creation.

Loofre.com, is another such example of a startup launched by a 35 year old Rohit Mahajan, who left his corporate job and started his own business in the outskirts of capital city New Delhi.

It enables the diners to discover the perfect table, according to their mood, cuisine, budget and preferred ambience and find the best offers from the nearby restaurants. Owner Loofre.com, Rohit Mahajan says,”Loofrey.com is a table reservation site. We have launched it three months back. This is for the people who all want to go and dine but do not want to stand in cue. It is a next generation technology. We got all this inspiration from Prime Minister Modi who told us to become entrepreneurs.”

Editor-in-chief Newsroompost Brijesh Tripathi advises youngsters to break monotony and start their own enterprise “I think the young entrepreneurs should come forward. Instead of going for a job they should go for what the government of India has advised. And this is very good for their future also.”

Here is a look at the 10 highest funded start-ups of the year:

Ola

Founder: Bhavish Agarwal
Type of Business: Taxi Aggregator
Funding received in 2015: $ 900 mn

olacabs-picture

Paytm

Founder:Vijay Shekhar Sharma
Type of Business: Mobile wallet
Funding received in 2015: $ 890 mn

paytm-coupons1

Flipkart

Founder: Sachin Bansal, Binny Bansal
Type of Business: Online retail
Funding received in 2015: $ 750 mn

flipkart

Snapdeal

Founders: Kunal Bahl, Rohit Bansal
Type of Business: Online retail
Funding received in 2015: $ 500 million

f5ddf7bd97d01d87f4a7985398aea709_XL

Grofers

Founders: Albinder Dhindsa, Saurabh Kumar
Type of Business: Grocery delivery
Funding in 2015: $ 165 mn

Grofers

Quikr

Founders: Pranay Chulet, Jiby Thomas
Type of Business: Online classifieds
Funding received in 2015: $ 150 mn

quikr


E-com Express

Founders: TA Krishnan, K Satyanarayana
Type of Business: E-commerce logistics provider
Funding received in 2015: $ 133 mn

Ecom Express

Oyo rooms

Founder: Ritesh Agarwal
Type of Business: Budget hotel accommodation
Funding received in 2015: $ 125 mn

Oyo_dec 21

Practo

Founders: Shashank ND, Abhinav Lal
Type of Business: Booking doctors appointments
Funding received in 2015: $ 120 mn

practo_ios_screenshot

Zomato

Founders: Deepinder Goyal, Pankaj Chaddah
Type of Business: Restaurant discovery
Funding received in 2015: $ 110 mn

Zomato-Facebook

Not just this, Hyderabad a an all new start-up hub called ‘T Hub’ built at a cost of Rs.40 crore. The facility was launched in November to create the much-needed ecosystem for startups, providing them technology and business mentorship.

More than 130 startups have set up their operations at T-Hub, created by the state government in collaboration with IIT-Hyderabad, Indian School of Business (ISB) and NALSAR University of Law.
The 70,000 square feet uniquely designed and fully automated facility has brought together startups, incubators, mentors, venture capitalists, angel investors, legal and accounting firms and other players.

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