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India's startup ecosystem is on track to double its number of startups from 1.2 lakh in 2023 to 2.4 lakh by 2030, according to a report by Longhouse. This growth is expected to significantly increase the number of unicorns, with projections rising from 120 to 280 by the end of the decade. The expansion will also lead to substantial job creation, with startups anticipated to generate around 50 million jobs across various sectors.
The report highlights a shift in the demographics of startup founders, with more experienced entrepreneurs emerging in the landscape. As sectors like AI, SaaS, and clean tech gain traction, the demand for skilled talent is expected to rise. This trend indicates a promising future for India's startup ecosystem, driven by innovation and a focus on high-value enterprises.
• India's startups projected to double to 2.4 lakh by 2030.
• AI and SaaS sectors expected to drive significant job creation.
A unicorn refers to a startup valued at over $1 billion, indicating significant market success.
Artificial Intelligence is a technology driving innovation and transformation across various sectors.
Software as a Service (SaaS) is a model where software is delivered over the internet, gaining popularity among startups.
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