ADIF aims to make the Indian startup ecosystem among top 3 globally by 2030
Digital startup think tank ADIF plans to make the Indian startup ecosystem among the top three globally by 2030, with a focus on boosting knowledge base, driving collaboration, and finding the right policy framework to drive growth, a senior official of the organisation said on Wednesday.
The issues that startups face with Google Play Store and Apple's App Store can be the point to start a conversation with a lot of startups, and bring them on board to find out the path that suits both sides, Alliance of Digital India Foundation (ADIF) executive director Sijo Kuruvila George told PTI.
"We are now the third-largest startup market globally and are home to over 50 unicorn startups, only behind the US (122) and China (92). While we are the third-largest in terms of size, the Indian startup ecosystem hovers around the twenties in terms of rankings," George said.
"If we are the third-largest in size, we should aim to be at least third in terms of ranking as well. Our mission is to transform the Indian startup ecosystem to be among the top three globally by the year 2030," he added.
He said that the ADIF will look at building a trust alliance of founders in the coming days to enable knowledge sharing to take place.
"At ADIF, we will compile this knowledge and take it to our young entrepreneurs and help fuel the next wave of entrepreneurs," George said.
"Furthermore, our ecosystem is still very nascent, so it's understandable that the policies haven't fully caught up. ADIF will thus also focus on advocating for favourable policies, figuring out solutions that are in the best interest of everyone and driving them," he added.
Google has proposed to charge up to 30 percent on revenues earned by apps through its Play Store, in line with Apple's policies. George said that most of the apps and startups in India don't have high margins, therefore, there is a need for ADIF to discuss the matter with startups.
He said that the state of Arizona has come up with guidelines on App Store fees, which is an early sign to start with.
"Given the importance some of these issues have, I think it is a very interesting conversation to have. We completely acknowledge that it (30 percent cut on app earnings) is a problem. All of us need to figure out the right way to go forward, either by regulation or by way of collaboration," George said.
He said that there are issues around angel investors, cross border payments etc where ADIF will work to bring in improvements.