Weathering the challenges: The Indian Tech Start-up Landscape Report 2023

The report underlines how India's tech start-up ecosystem is handling global challenges but continues to focus on enhancing their business fundamentals. It also highlights how the use of deep technologies is becoming mainstream to improve business functions. A section on the outlook for 2024 based on survey feedback received from start-up founders is also covered in the report.

DOWNLOAD PDF SHARE REPORT

Key Findings

Mirroring global trends, Indian tech start-ups witnessed substantial drops in a) Funding value that reached a total of ~USD 6 Bn, down 67% over last year
While this funding value drop was holistic across all start-up stages, late-stage investments bore the brunt with a 71% drop.
New startup creation also dropped by ~30% of last year’s level

Start-ups increased focus on business fundamentals, ~60% start-up founders report an increase in revenue and profitability in 2023.
New start-ups are increasingly focused on DeepTech. 25% of the tech start-up founded in 2023 were leveraging DeepTech
Over 100+ Generative AI start-ups now active in India’s start-up ecosystem building horizonal and vertical applications.
With Generative AI acceleration, 70% of start-up founders are intending to embed Artificial Intelligence in their solutions.

When compared to other countries, India scores well on talent, policy and new startup creation.
Indian start-ups witness over 30% conversion rate scaled start-up post Series B funding which is amongst the highest globally. This reflects the maturity of the scaled-up startup ecosystem in the country.

Focus on business fundamentals to become stronger. Over 60% of start-up founders expect to increase revenues next year.
While the global environment is uncertain, 46% of start-up founders expect a better funding environment in 2024. Late-stage investments may continue to lag.
Investments in deep tech continue with over two-thirds of the start-ups investing in AI to enhance their product capabilities and internal efficiencies.

Download
this report

Regular Price: Free
Member Price: Free

Download report

Related Reports

Nasscom Tech Start-up Report 2022 – Rising Above Uncertainty: The 2022 Saga of…

The report underlines the maturity of India's tech start-up ecosystem, highlighted by the ability to circumvent cyclical ups and downs in addition to the growth of new-generation start…

15, February 2023

Free for All

India’s DeepTech Start-ups – Poised for Impact

“India’s DeepTech Start-ups – Poised for Impact” analyses the Indian DeepTech landscape, enumerates the characteristics that differentiate a DeepTech start-up vis-a-vis a tech start-up…

22, August 2022

Free for All

NASSCOM Tech Start-up Report 2021 – Year of the Titans

“NASSCOM Tech Start-up Report 2021 – Year of the Titans” underlines how 2021 was the year of unparalleled growth in the Indian tech start-up ecosystem. Many records have been…

21, January 2022

Free for All

India’s DeepTech Start-ups – The Next Big Opportunity

“India’s DeepTech Start-ups – The Next Big Opportunity” highlights the current status of Deeptech in India and how it has shaped up in recent years. The study also deep-dive into the …

15, March 2021

Free for All

NASSCOM Start-up Pulse Survey – Q1 2020: Reviving the Indian Tech Start-up Engine…

“NASSCOM Start-up Pulse Survey – Q1 2020: Reviving the Indian Tech Start-up Engine During COVID 19” underlines the perspective of Indian entrepreneurs towards the impact of COVID-19 on…

15, May 2020

Free for All