Level II and III cities emerge as innovation centers, contributing to 40% of technological start-ups in India.
SAP India, in collaboration with Dun & Bradstreet, published a new study Revealing how Indian start-ups use advanced technology to unlock their full potential. According to the results, 77% of start-ups invest in advanced technologies such as artificial intelligence (AI), ML, IoT and blockchain. In the era of digital disturbances, start-ups in India proactively integrate advanced technologies to achieve operational efficiency, stimulate growth and increase customer experiences. This trend highlights rapid technological adoption and innovation through the Indian startup ecosystem, now classified third in the world, after the United States and China.
Another important aspect of this study is the emergence of level II and III cities as innovation centers, where 40% of technological start-ups come, taking advantage of local talents and costs of costs. This evolution focused on technology solidifies the global stature of India as a leading startup power, supported by solid corporate governance and a conducive regulatory environment.
Announcing the results of the survey, Sanket Deodhar, vice-president and chief of digital natives, SAP Indian Sub-Contint, said: “The community of Indian startups is at an inflection point. While companies pass their objective of GMV (gross goods value) to GM (gross margin) and seek to forge more sustainable commercial models using transparent trust data, technology remains a cornerstone and a differentiating Key for startups to carry out these objective companies, regardless of their growth stage or their industry. At SAP, we understand the power of technological innovation to shape the entrepreneurial companies of tomorrow and, therefore, determined to help our customers transform into smart businesses, oriented towards growth and sustainable. »»
Relationship key results:
Capitalizing advanced technologies strengthens more value for Indian start-ups
- 79% of start-ups believe that the adoption of business applications integrated into new-aged technologies such as AI is essential for scaling and improving the units economy, And 72% of start-ups have or seek to invest in new-aged technologies.
- 85% of start-ups believe that the unit economy is a clear path to profitability and improvement of the evaluation.
Increasing pringing of cities of level II and III as innovation centers
- Level II and Level III cities have become innovation centers, with 40% of the total technological start-ups from there.
- Cities like Chandigarh, Jaipur, Madurai, Indore, Kochi, Warangal, Hubli, Raipur, Vishakhapatnam and Guwahati, among others, welcome 15% of the country’s technological skills pool.
- Cities of level II and level III can contribute to substantial cost savings, because real estate rentals and talent pool costs are lower here compared to metropolitan cities.
The adoption of new age technology transforms the growth of the sector.
- Agritech: IOT drones and devices fed by AI optimize agricultural practices, improve yields and reduce labor costs.
- Fintech: AI algorithms improve credit notation and risk assessment, while detection of fraud in real time on fraud ensures solid security.
- Edtech: Advanced technologies such as AI, RA / VR and gamification improve personalized learning and scaling.
- Health technology: Telemedicine and AI / ML provide real -time information for improving the provision of health care and operational efficiency.
Company solutions help create solid corporate governance practices necessary to attract investors and public lists.
- 64% of respondents believe that the adoption of business applications is essential to measure the behavior of rapidly evolving customers and make strategic decisions to set up and improve the unit economy.
- 71% of respondents believe that robust corporate governance measures are necessary to attract investors and prepare for public registration.
- Enterprise Solutions can help create solid corporate governance practices to stimulate precise and transparent relationships, data security and confidentiality and implement business contract management systems.
Speaking on the report, Avinash Gupta, Managing Director and CEO – India, Dun & Bradstreet, said“India’s start -up ecosystem is prosperous, powered by a favorable regulatory environment, a growing middle class and a population of young people who are warned in technology. India ranks third in the world in its startup ecosystem with nearly 3 Lakh start-ups and 113 unicorns in various sectors. Government support policies, sufficient venture capital and talented workforce contributed to the growth of the key sectors. The growing importance of cities of level II and level III as innovation centers has further decentralized economic development. While we sail on financing limitations and market volatility, start-ups must focus on the unit economy and profitability to build sustainable and profitable businesses. This report is a deep dive into the current start ecosystem with strategic information on the evolution of dynamics in assessments, aspirations, trends and the role of technology in their growth path. “”
The study entitled ‘Creation of value and sustainable growth: the plan for the profitability of startups in India“Examine 113 Indian start-ups, presenting their strategic progress and their investments to improve competitiveness.