For any entrepreneur who’s looking to launch their startup in India, it’s easy to get overwhelmed by the amount of options out there. With that in mind, we’ve decided to help you sort through the clutter by sharing our thoughts on the best startup ideas in India in 2022. We chose these ideas based on market opportunity, customer demand, scalability, and more.
The Indian startup scene has seen rapid growth over the past few years, and it’s not showing any signs of slowing down any time soon. Many venture capitalists are looking to invest in the next big thing, and will be placing bets on India-based startups in 2022. If you’re looking to start your own company in India, these are the best startup ideas in India in 2022 that will likely be among the most successful in 2022, So without further ado, here are the best Indian startup ideas we can think of right now.
The Best Startup Ideas in India in 2022 –
- Financial tech
- Healthcare technology
- Artificial intelligence
- Software as a service (SaaS)
- Cybersecurity startups
- Agri-tech startups
- Infrastructure/smart cities
- Energy/environmental technology
Let’s take a look at some of the best startup ideas in India in 2022 and see how these startups could change the world.
India’s information technology industry is going to explode over the next few years, thanks to initiatives like Digital India and Make in India. That’s why it’s a great time to get into financial tech—that is, startups that deal with digital payments and offer services around it, such as mobile wallets or online payment solutions. India is going towards a cashless economy, which will not only aid easy transactions but will also cut down on black money [and] inflation rates.
Paytm and MobiKwik are two great examples of companies already entrenched in these sectors. It doesn’t look likely that they’ll be slowing down anytime soon, which makes them good options for investment. Try doing a quick analysis of your idea based on the following parameters – Customer Problem it solves, Market size/potential and how exactly will you make money from it.
From health monitoring wearables and medical imaging devices to remote patient monitoring, healthcare technology is one of India’s most promising sectors. With millions of Indians expected to join cities and new middle-class lifestyles over the next decade, demand for innovative healthcare solutions will skyrocket. This will open new opportunities for startups with smart ideas—and investors willing to fund them.
It’s a growing sector that could be worth $2 billion by 2025, according to some estimates. That said, competition will also be stiff. In many ways, healthcare startups are following a similar path as fintech companies did only a few years ago; both fields require complex regulations to navigate. But what they also share is an enormous market waiting to be disrupted.
AI is going to be a massive opportunity for startups and entrepreneurs, especially over the next five years. The ability of machines to parse massive amounts of data and make decisions on their own (or at least, with minimal human input) will only continue to grow. Facebook’s M, Google Now, and Apple’s Siri are all great examples of how AI can help make our lives more convenient. But there are also plenty of opportunities for startups to tackle specific sectors using AI tools—by 2020, it’s expected that 56% of companies will leverage artificial intelligence as part of their business model.
Are you an entrepreneur who has developed an idea or application based around artificial intelligence? If so, we want to hear from you! This year Forbes India decided it was time we held a special edition – one that focused entirely on new businesses that were making their mark in the Artificial Intelligence space.
Robots will reshape every aspect of life. One estimate suggests that by 2025, robots will displace 25 million workers around the world—and even higher numbers are predicted if adoption continues at its current pace. It’s not just manufacturing and factories that will be affected either; autonomous vehicles and home assistants are already influencing people’s day-to-day lives.
The impact of robotics on society will be a major conversation topic for years to come, with many experts calling for a universal basic income to help support those who lose their jobs to automation. The issue is an important one; we’ll look back on these developments with great interest when they happen.
Healthcare is becoming increasingly expensive, and it’s only going to become more difficult for patients to get their hands on affordable health insurance. Biotechnology has made a lot of progress when it comes to finding cures for diseases. As an industry, biotechnology is projected to continue growing at a rapid pace over at least five years, so biotech startups are some of our best bets when we’re looking for startup ideas.
Of course, as with any market opportunity, there will also be competition. If you decide that a biotech startup would work well for you, then here are some possible areas you might want to explore:
- Genomics-based diagnosis or treatment
- Neurological treatments
- Gene therapy
- Neurodegenerative disease research
Software as a service (SaaS)
Software as a service, or SaaS, is a model for distributing software applications via an online service. The term refers to both the delivery of software and resources over the internet, as well as to such services using Internet technology. It has been estimated that more than 60% of existing software today runs on SaaS, including many mass-market web applications. This will only grow from hereon as SaaS becomes cheaper and more robust with time.
By 2025 it’s projected that 89% of all software will be offered as cloud based services; if you think about it, it makes sense. We’re already seeing some major players transition completely to subscription based models (Microsoft Office 365, Adobe Creative Cloud). So what does this mean for you? If your startup isn’t leveraging at least one subscription based business model then you need to seriously consider moving forward with something else quickly; its not going away any time soon.
Cybercrime is big business, and nowhere is that more apparent than in cyberspace. This space has been hit by everything from run-of-the-mill phishing attacks to breaches of classified information. That’s why there’s a huge market for startups that are leveraging technology to combat cyberattacks. The security of our data, bank accounts, businesses and governments is dependent on these startups’ ability to make things safer online. Below are five areas that offer immense potential.
We’re tracking hundreds of cybersecurity startups, including Waratek (provides secure software containers) and Malwarebytes (combats zero-day malware). If you want to start your own cybersecurity company or you know of an interesting one we should add to our list, let us know.
The Indian economy has a huge number of small and medium farmers; some estimates peg it at about 80 million, each with an average farm size of about 2.5 acres. No wonder then that agriculture is one of our biggest employment sectors; most Indians earn their living from agriculture-related work. That’s why agri-tech is one startup idea worth following; we have an aging farmer population, creating a shortage of labor, which means wages for workers are likely to increase over time.
Farmers will also become more technologically savvy (many already use smartphones to check market prices), making them candidates for adopting products like drone technology or precision irrigation equipment. But there are other benefits too: Growing our agricultural output can help boost exports and create jobs – something we badly need in today’s economy. Some experts estimate that India can potentially grow its total crop production by almost 30% by 2030—so there’s plenty of room for startups here.
India is going to build new and improved infrastructure over the next decade. If you want to find a high-potential startup idea, consider building a company around these trends. The first is smart cities. Indian companies are already doing lots of work on smart lighting; I’m sure they’ll also be interested in building automated transportation systems (like bus rapid transit or e-buses) that use built-in sensors and navigation software to get commuters where they need to go faster than cars could ever manage.
Autonomous car technology will likely be ready for prime time by 2022—so look into self-driving tech as well. Finally, many cities in India are rapidly growing—and will continue to do so through 2022—so there’s likely to be demand for apps and solutions that can help them tackle congestion problems more effectively than today’s traffic apps allow. New roads? No problem.
With a population of 1.3 billion, India will be responsible for millions of tons of carbon emissions each year—and it’s already a hot spot for pollution. Any startup that could help reduce these numbers is bound to find customers around India. This space might also include solar panels, wind turbines, and more.
Mobile/Internet: One area where India seems ripe for innovation are mobile apps that make it easier to book things or do everyday tasks from your phone; taxi-hailing services like Uber have already become popular there, and Indian internet users are currently growing at an average rate of 29% per year. Many apps focus on daily activities like finding grocery stores or restaurants, booking air travel or movie tickets (especially when traveling), and translating foreign languages into English.
With over 450 startups with valuation of more than $1 billion, Indian startup market is projected to be in top five markets globally by 2020. The best startup ideas in India in 2022 would probably come from these tech driven sectors like AI and ML, Internet of Things (IoT), Cyber Security and Blockchain.
How do you go about starting your own business in India? You might not think of India as being a hotbed of entrepreneurship and technological innovation, but the country is actually quite ripe with startup ideas that could grow into major businesses in the next decade or so. These are the best startup ideas in India in 2022.
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