How Many Types of Startup Companies are in India?

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How Many Types of Startup Companies are in India?

Startups are young companies that are founded by entrepreneurs to create a product or service in the market that helps solve the problems of customers that no other business is doing. It focuses on creating an irresistible and irreplaceable for customers. The startup's products are based on innovative ideas and to encourage them, the government of India launched a Startup India Scheme. 

In this scheme, the startups have many benefits related to tax exemption, no cap on minimum capital, financial help from the government, easy exit from business and many more. The startup registration has been increase in the previous years as per the changes in the market. In this article, different types of startups and their sectors are shared.

Types of Startups in India

Below are the different types of startups that set up in India, and these are as follows:

1. Scalable startups: the tech startups belong to this niche. In simple terms, these businesses cover a huge market. Examples of these businesses are Uber, Google, Facebook, Twitter etc.  
2. Small business startups: these startups are self-funded by the founder of the business. They are available on the internet or have a website but do not have an app. The example of these startups are Grocery stores, bakers, salons, etc.
3. Lifestyle startups: people who have a passion and they convert it into a profession are usually lifestyle startups. As a business idea, they choose what they like and the examples of these can be dancers, musicians, and artists.
4. Buyable startups: the technology and software-based startups fit into this category. These startups work on creating a business which they can sell to larger companies in exchange for a good profit amount. The entrepreneurs sell the idea which has growth potential and try to raise the funds through crowdfunding and angel funding. 
5. Big business startups: large businesses have a long life span if they create new ideas as per the market, beat the competition, and bring innovative ideas. Android and Apple are examples of these businesses.
6. Social startups: social startups are focused on solving societal problems and trying to bring positive change. These businesses do not work on earning profit. However, they provide donations, grants, and charities to bring a positive impact.

Different Startup Sectors in India

The Startup India Scheme is not the only program that is helping startups. Although, the Digital India program also helps businesses to take their business online. In the current scenario, tech-based startups are growing much faster than others. Similarly, startup registration online is now possible and you don’t have to visit the government offices. The acceptance related to online business has been increasing in previous years.

According to the Nasscom reports, India saw higher startup registration which is more than 1300 new tech start-ups in 2022. If we categorise the startups, then there are two types of startups; tech-based and non-tech-based. The tech-based startups are Fintech, Edtech, Healthcare, and E-commerce and non-tech-based segments are Agriculture, Textiles, Construction, and others.

Data of Startup India in the Last 5 Years

In the Startup India program, the government has collected data related to startup company registration and others for the last 5 years from January 2016 to December 2020. In this report, the following data has been shown:

• Around 4.7 lac jobs have been reported by 39,000+ startups.
• Recognised startups by DPIIT are 41, 317.
• An investment of Rs. 4,509 crore has been made in the 384 startups through the Fund of Funds scheme.
• There is at least one recognised startup in the 590+ district.
• Around 44% of startups have at least one woman director.
• The 30 States and UTs have a dedicated startup policy.
• The 319 eligible startups have been granted exemption under 80-IAC of the Income Tax Act.
• Startups received 53,226 orders with a cover value of Rs. 2,279 Crores through the GeM portal.
• The 37+ regulatory reforms are undertake by States and UTs.
• The 39 regulatory reforms were enabled with the help of various ministries.
• Around 2.8 Lac users enrolled in the Startup India L&D program.

Which are the Best Startup Companies in India?

LinkedIn unveiled its 2023 Top Indian Startups List and Zepto (an e-commerce grocery app) topped the list. This startup list is created by considering factors like employee expansion, job seeker interest, and engagement between members and the company’s workforce. Below check all other startups that top the list:

1. Zepto (e-commerce grocery app
2. BluSmart (ride-sharing company)
3. Ditto Insurance (digital insurance policy company)
4. PocketFM (audio series platform)
5. Skyroot Aerospace (aerospace company)
6. GoKwik (eCommerce enablement company)
7. FI (money management app)
8. Sprinto (Platform for security and compliance needs)
9. Supersourcing (platform for hiring engineers on contract)
10.  GrowthSchool (e-learning platform)
11.  Jar (automate your savings in digital gold)
12.  Shyft (personalised wellness solutions)
13.  Teachnook (e-learning platform)
14.  StockGro (platform for stock marketing trading and investing)
15.  Exponent Energy (full stack energy company)
16.  Housr (luxury-managed accommodation provider) 
17.  AccioJob (ed-tech startup)
18.  TravClan (B2B platform for travel agents)
19.  DotPe (Commerce and payments platform)
20.  Fasal (IoT-based AI-powered intelligence platform)

Conclusion

To conclude, India has taken great steps to create a startup ecosystem and because of that the startup registration has increased. Some sectors, see growth in the pandemic, such as Edtech and Healthtech. So, as per the demand, some business changes their way of operating. So, knowing the market and your business is important to grab the growth opportunities. 

However, to set up a business, you are required to complete startup company registration. We at Registrationwala, assist different startups as per the requirements to register themselves with the government authorities. Reach out to us, if you have any queries.

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