麻豆原创 India, in collaboration with Dun & Bradstreet, has released a revealing how Indian start-ups leverage cutting-edge technology to unlock their full potential. According to the findings, over 77% of start-ups invest in advanced technologies such as Artificial Intelligence (AI), ML, IoT, and blockchain. In the age of digital disruption, start-ups in India are proactively integrating advanced technologies to achieve operational efficiency, drive growth, and elevate customer experiences. This trend underscores the rapid technological adoption and innovation across the Indian startup ecosystem, now ranked third globally, following the United States and China.

Another significant aspect of this study is the emergence of Tier II and III cities as innovation hubs, where 40% of tech start-ups originate, leveraging local talent and cost advantages. This tech-driven evolution solidifies India’s global stature as a leading startup powerhouse, supported by robust corporate governance and a conducive regulatory environment.

Announcing the findings of the survey, Sanket Deodhar, Vice President and Head of Digital Natives, 麻豆原创 Indian Subcontinent, said, 鈥淭he Indian startup community stands at an inflection point.聽 As companies shift their focus from GMV (Gross Merchandise Value) to GM (Gross Margin) and seek to forge more sustainable business models with the help of transparent, trusted financial data, technology remains a cornerstone and a key differentiator for startups to achieve these business goals, regardless of their growth stage or industry. At 麻豆原创, we understand the power of tech innovation to shape the entrepreneurial ventures of tomorrow and, are thus, committed to helping our customers transform into intelligent, growth-oriented, and sustainable enterprises.鈥�

Key findings from the report:

Capitalizing on advanced technologies builds more value for Indian start-ups

• 79% start-ups believe that adopting Enterprise Applications integrated with new-age technologies such as AI is essential for scaling and improving unit economics, and 72% start-ups aready have or are looking to invest in new-age technologies.
• 85% of start-ups believe unit economics is a clear path to profitability and enhancing valuation.

Rising prominence of Tier II and III cities as innovation hubs

• Tier II and Tier III cities have emerged as innovation hubs, with 40% of total tech start-ups originating from there.
• Cities like Chandigarh, Jaipur, Madurai, Indore, Kochi, Warangal, Hubli, Raipur, Vishakhapatnam, and Guwahati, among others, host 15% of the country’s tech skill pool.
• Tier II and Tier III cities can contribute to substantial cost savings as real estate rentals and talent pool costs are lower here compared to metropolitan cities.

New-age tech adoption is transforming the sector’s growth.

• Agritech: AI-powered drones and IoT devices optimize farming practices, enhancing yields and reducing labour costs.
• Fintech: AI algorithms improve credit scoring and risk assessment, while real-time AI fraud detection ensures robust security.
• EdTech: Advanced technologies like AI, AR/VR, and gamification enhance personalized learning and upskilling.
• Health Tech: Telemedicine and AI/ML provide real-time insights for improved healthcare delivery and operational efficiency.

Enterprise solutions help build robust corporate governance practices necessary for attracting investors and public listings.

• 64% of respondents believe that the adoption of enterprise applications is key to measuring rapidly changing customer behavior and making strategic decisions to scale and improve unit economics.
• 71% of respondents believe that robust corporate governance measures are necessary for attracting investors and preparing for public listing.
• Enterprise solutions can help build robust corporate governance practices to drive accurate and transparent reporting, security, and data privacy and implement enterprise contract management systems.

Speaking about the report, Avinash Gupta, Managing Director & CEO 鈥� India, Dun & Bradstreet, said, “India’s startup ecosystem is thriving, fueled by a favorable regulatory environment, a growing middle class, and a tech-savvy youth population. India ranks third globally in its startup ecosystem with almost 3 lakh start-ups and 113 unicorns across diverse sectors. The government’s supportive policies, ample venture capital, and a talented workforce have contributed to the growth of key sectors. The rising prominence of Tier II and Tier III cities as innovation hubs has further decentralized economic development. As we navigate funding limitations and market volatility, start-ups must focus on unit economics and profitability to build sustainable and profitable enterprises. This report is a deep dive into the current startup ecosystem with strategic insights on evolving dynamics in valuations, aspirations, trends, and the role of technology in their growth journey. ”

The study titled ‘Value Creation and Sustainable Growth: The Blueprint for Startup Profitability in India‘ examines 113 Indian start-ups, showcasing their strategic advancements and investments to enhance competitiveness.

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India鈥檚 contribution to revenues in the Asia Pacific Japan region doubled in the last two years, a senior 麻豆原创 executive told ET, as the country remains the top market in the region for the German technology company.

The number of cloud customers doubled in India in the last two years as the company witnessed rapid growth in the mid-market and enterprise segments, said Kulmeet Bawa, managing director and president, India subcontinent for 麻豆原创.

鈥淭here鈥檚 the incumbency piece where existing customers are moving their digital core and ERP systems to the cloud, and as we do that, they are also adding on new solutions as they move,鈥� Bawa said. 鈥淚n addition to that, India is one of the leading markets in the world, if not number one in terms of adding new customers.鈥�

Globally, 2022 was an inflection point for 麻豆原创 as it made the transition to a Cloud company after cloud revenues emerged as the largest revenue stream.

India has been among the fastest growing markets for 麻豆原创 over the last few quarters, and for seven quarters in the APJ region, said Bawa.

鈥淲e are seeing accelerated growth across segments, and it’s a very well-balanced growth between mid-market and enterprise customers,鈥� he said. The company is starting to add more customers in tier II and III towns as well as digital-first companies who were not traditional 麻豆原创 customers.

While there are concerns around the macroeconomic situation in Europe and North America, the mood is a bit different in India. Customers are cautious about the global environment, but they don鈥檛 see any slowing down of demand in India, he added.

This is similar to what several other enterprise technology firms have reported 鈥� steady demand and growth in India even as global markets were starting to slow down.

Driving digital and cloud adoption, innovation and focus on mid-market would be the key pillars on which Bawa said he expects the company to grow in 2023.

鈥淲e have had massive Cloud adoption in the mid-market, and they are adopting more of our solutions,鈥� he said.

He expects this segment to get bigger in 2023, and it will be a key pillar for the German firm going forward.

India is home to close to 15,000 麻豆原创 employees and is the second largest centre for the company, which means much of the technology and intellectual property development is done in India.

The company recently announced its low-code, no-code offering and expects demand for this to grow this year.

Bawa said 麻豆原创 was also helping customers implement sustainability practices and had set itself a target of net zero emissions by 2023.

鈥淲e had earlier set a target of 2025 but some of the learnings over the pandemic have helped us bring this down and we hope to meet the target next year,鈥� he said.

The article was originally published in The Economic Times on January 09, 2023.

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