India got 11 unicorns in the first quarter of 2022

 The year 2022 has been a landmark year for India’s start-up economy. India already has 11 unicorns in the first quarter of 2022.

As the world’s growth engine, Asia Pacific’s technology-focused start-ups are leveraging innovations and new sector verticals to blaze a digital trail forward, says KPMG and HSBC report titled 'Emerging Giants in Asia Pacific report'. 

Amarjeet Singh, Partner and National Lead – Emerging Giants and Start-ups, KPMG in India said, “2022 has been a landmark year for India’s start-up economy. India already has 11 unicorns in the first quarter of 2022 and the rate of increase isn’t letting up. Most of India’s unicorns have emerged because of inefficiencies in the market and this has created opportunities for entrepreneurs to come up with solutions.”

Other key findings of the report include:

* While a repeat of the record-breaking private investment levels in 2021 is unlikely, 1Q 2022 figures suggest that 2022 is on target to exceed both 2020 and 2019 funding levels in the Asia Pacific. Australia, Malaysia and South Korea have already seen deal values pass or nearly pass 2020 totals.

* As the world’s biggest fintech adopter, the Asia Pacific region has experienced a boom in financial services transformation within the last two years as fintech applications progress in tandem with user uptake. Considerable interest in cryptocurrencies has also led to a surge in crypto financial services providers and blockchain players.

* Growing pressure for an ESG focus in business and investment strategies in order to meet climate targets will likely drive an explosive demand for green technologies and services across every industry, creating significant opportunities for Emerging Giants.

* Top challenges faced by Emerging Giants include navigating regulatory complexity and securing technology talent. Formulating effective ESG and tax strategies, as well as leveraging government incentives and implementing management processes for distributed workforces, will be cornerstones of future growth.


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