Bengaluru, India – As India solidifies its position as the world's third-largest startup ecosystem, the next generation of entrepreneurs is poised to redefine the landscape. At the Economic Times Startup Awards 2025, Aravind Sanka, co-founder and CEO of Rapido, Nandita Sinha, CEO of Myntra, and Abhiraj Singh Bhal, founder and CEO of Urban Company, winners of the Startup of the Year award, gathered to discuss the defining characteristics of these emerging ventures.
The discussion revolved around the rapid technological advancements, particularly in Artificial Intelligence (AI), and how these advancements are reshaping consumer habits. The leaders emphasized that future success hinges on adapting to these changes and prioritizing long-term value creation over short-term gains. They highlighted the importance of sound business models, substantial market outreach, and sustainable practices as key factors driving growth.
Aravind Sanka, whose Rapido joined the Unicorn Club in July 2024, emphasized the significance of leveraging technology to solve real-world problems and create opportunities. Rapido, founded in 2015, aimed to provide affordable and efficient transportation solutions in congested cities. Sanka and his co-founders, Pavan Guntupalli and Rishikesh SR, recognized the potential of a B2C model using bikes to navigate traffic and offer a cost-effective alternative to traditional ride-hailing services.
Nandita Sinha, CEO of Myntra, highlighted the importance of understanding and catering to the evolving needs of India's Gen Z shoppers. With Gen Z making up a substantial portion of online fashion consumers, Myntra focuses on providing personalized, tech-driven experiences. Sinha emphasized the role of AI in enhancing shopping experiences and the significance of quick commerce and regional influencers in reaching this demographic. She also noted that fashion e-commerce requires a fourth pillar: inspiration.
Abhiraj Singh Bhal of Urban Company, winner of the ET Startup Awards 2025 Startup of the Year, focused on the importance of execution in determining a company's valuation. Urban Company, founded as UrbanClap, transformed the unorganized home services industry into a technology-powered, trust-based marketplace. Bhal stressed the company's commitment to empowering service professionals through training and providing flexible work opportunities. He also noted that Urban Company still considers itself a startup with its best years ahead.
Several key trends are expected to shape the next generation of Indian startups. The increasing adoption of emerging technologies like blockchain, the Internet of Things (IoT), and augmented reality (AR) will revolutionize various sectors. Sustainability and environmental responsibility will drive startups to develop eco-friendly solutions. Deep tech ventures in areas like AI, semiconductors, and quantum computing will tackle complex global challenges.
However, challenges remain. Startups face regulatory hurdles, funding constraints, talent acquisition difficulties, and infrastructure gaps. To overcome these obstacles, startups must focus on simplifying regulations, strengthening intellectual property protection, and fostering a culture of innovation. Collaboration between startups, established companies, and government organizations is also essential for growth.
Despite the challenges, the future of Indian startups appears bright. With a young, ambitious population, a supportive policy environment, and increasing investor confidence, the Indian startup ecosystem is well-positioned for continued growth. By embracing emerging technologies, prioritizing sustainability, and focusing on long-term value creation, the next generation of Indian startups can drive economic growth and address global challenges.
