India’s top startups honored at annual awards

A dozen of India’s top startups will be recognized today at the 12th edition of the Economic Times Startup Awards in Bengaluru, the country’s most prestigious celebration of entrepreneurial success. The ceremony will gather founders, investors, and policymakers, including Union Commerce and Industry Minister Piyush Goyal, who will address government initiatives to strengthen India’s business environment.

The selection process involved a jury headed by Wipro Chairman Rishad Premji, who assessed submissions across eight categories. Winners include Groww as Startup of the Year and Manu Chandra, founder of consumer investment firm Sauce VC, who received the Midas Touch award for his history of supporting successful ventures.

Founders Share Journeys from Startup to Public Company

Founders who have led companies from early-stage operations to public listings will discuss their experiences. Lalit Keshre, cofounder and CEO of Groww, and Vidit Aatrey, CEO of Meesho, will examine the obstacles and opportunities of scaling businesses in India’s changing market.

A separate discussion will focus on India’s advancements in hard-tech innovation, featuring Prashanth Prakash, founding partner at Accel, alongside leaders from Pixxel, BrainSight AI, and Agrani Labs. The conversation will examine how government policies and private investment are accelerating progress in semiconductors, AI-driven healthcare, and aerospace technology.

AI’s Role in Startup Growth

Another key development is the rise of AI-native business models, where companies integrate artificial intelligence from the outset rather than adding it later. According to Jason Bennett, vice president and global head of startups at Amazon Web Services, this approach is driving faster growth. An AWS study with Strand Partners found AI-native startups are expanding revenues at 167% annually—more than five times the rate of non-AI-native peers—and are 5.5 times more likely to reach $1 million in yearly revenue.

Bennett noted that AI is lowering barriers to building companies, with more startups emerging today than two years ago. AWS is broadening its support beyond cloud services, now assisting startups with market strategies and enterprise customer acquisition through its platform.

Challenges Within India’s Startup Environment

While the awards celebrate achievements, the ecosystem faces ongoing difficulties. Amazon India recently announced layoffs affecting around 100 employees, primarily in retail and customer service roles, as part of a global restructuring. The company stated the changes aim to better align with its priorities, though the move reflects broader hiring uncertainties in India’s tech sector.

In contrast, DailyObjects, a lifestyle accessories brand, secured ₹332 crore in funding led by Xponentia Capital Partners, valuing the company at ₹1,050 crore post-money. The investment demonstrates strong investor confidence in consumer-focused startups, even amid economic challenges. Meanwhile, Groww continues to lead India’s stockbroking market, adding 100,961 new clients in September, a significant outlier in an industry where overall client growth remained stagnant at 0.35% month-over-month.

TCS’s latest financial results provide further insight. The IT services company reported a 15% year-over-year increase in net profit for the second quarter of FY27, reaching ₹13,884 crore, alongside an 11% revenue rise to ₹73,188 crore. AI revenue surpassed $3.1 billion in Q2, accounting for over 10% of total earnings. TCS secured a $9.6 billion contract pipeline, including a five-year agreement with Porsche AG and the proposed acquisition of MHP, Porsche’s German management and IT consulting subsidiary.

India’s Startup Evolution

India’s startup ecosystem has shifted from a specialized experiment to a global player, driven by domestic ambition and international investment. The awards honor individual successes but also reveal broader trends: the growing influence of AI in new business models, the resilience of consumer-focused ventures despite economic pressures, and the expanding role of hard-tech startups in shaping India’s future competitiveness. Unlike earlier periods, when success often depended on securing large funding rounds or foreign partnerships, today’s winners demonstrate that innovation, whether in fintech, AI, or sustainable business, can thrive even in uncertain conditions.