To empower start-ups in the country Oppo India has launched the second edition of its OPPO Elevate program in collaboration with Microsoft Oppo India is looking to recruit projects under two categories Accessible and Digital Health on the theme of virtuous innovation.
The projects will be reviewed by a jury of experts. In August this year during an event the top 10 selected startups will be will get an opportunity to present their proposals to the jury. The India jury will select 3 start-ups who will join the Global Innovation Accelerator program and get a chance to win grants of $46000 each as well as further investment opportunities, research, technical support and commercial partnerships, and promotion at global events. As part of the program, all brilliant entrepreneurs will be invited to Microsoft for Startups Foundation Hub.
India is the third-largest start-up ecosystem in the world with about 60,000 start-ups. Indian start-ups have raised $ 42 million in 2021. The Indian Tech unicorn Report 2021 told India saw 46 unicorns. These include share chat, Meesho, Upgrade, and others
"These startups are not only developing unique solutions and technologies but are providing large-scale employment. As per the report, Bengaluru was the city with the most unicorns. Fintech, e-commerce, and SaaS have seen the maximum number of unicorns, while health-tech, ed-tech, D2C, Gaming, and Crypto are also close behind. Flipkart was the most valuable unicorn while Mensa Brands was the fastest to turn unicorn.
India has seen four decacorns i.e companies with a valuation of USD 10 billion and above so far - Flipkart, Paytm, Byju’s, and Oyo Rooms. Further, Zomato has the highest market capitalization ($14.8 billion), followed by Nykaa ($13.5 billion) and Freshworks ($6.9 billion).
The start-ups in India are moving ahead and establishing themselves in the world.