THIS YEAR THE INDIAN GOVERNMENT HAS BEEN ENCOURAGING MORE AND MORE STARTUPS TO COME UP IN THE COUNTRY THROUGH INITIATIVES LIKE STARTUP DAY. HOW DOES AWS PLAY A CRUCIAL ROLE IN THIS GROWTH?
The past year has been a momentous one for India's startup ecosystem. According to CB Insights, in 2021 startups had received funding of $28.5B, which is 173 per cent YoY growth compared to 2020 where they received $10.5B. We've witnessed an unprecedented rate in startups achieving unicorn status. In the past year, the Indian startup ecosystem saw the rise of more than 40 unicorns, or those startups who reached a valuation of $1 billion or more.
One of my team's greatest privileges is that we have a front seat to all this action. Since 2006, AWS has worked alongside hundreds of thousands of founders all over the globe, supporting them in building and scaling their businesses. Here, in India, we work with startups and former startups like Ola, Byju's, CarDekho, Big Basket, and Paytm, and have loved being on the journey as they indelibly transform the industries they play in.
According to CB Insights, in 2021 startups had received funding of $28.5B which is 173% YoY growth compared to 2020 where they received $10.5B.
HOW DOES AWS TAKE CARE OF THE 'HEAVY LIFTING' IN BUILDING A STARTUP, ALLOWING FOUNDERS TO FOCUS ON GROWTH?
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