India's startups to reach 240,000 by 2030

India's startup scene is expected to grow quickly, with the number of startups likely to reach 240,000 by 2030. This is up from 120,000 in 2023, according to a report by Longhouse. The rise in startups will lead to a significant increase in high-value companies, including unicorns, which are startups valued at over $1 billion. The number of unicorns could grow from 120 to 280 in that time. This growth is also expected to create many new jobs. The report estimates that startups will generate about 50 million jobs by 2030. This includes direct jobs, gig economy roles, and indirect jobs across various sectors. Out of the total jobs, 4 to 5 million will be direct white-collar positions, while 9 to 10 million will come from the gig economy. The remaining 35 to 40 million will be indirect jobs. The report highlights a change in the background of startup founders. More founders now have prior work experience. From 2020 to 2024, 40% of unicorn founders had 10 to 15 years of experience before starting their companies. This is up from 26% from 2008 to 2013. Additionally, 55% held leadership positions before launching their startups. The startup ecosystem is attracting interest in sectors like AI, deep tech, and sustainability. AI is anticipated to drive growth across various industries by creating new startups and transforming existing businesses. While automation may replace some jobs, it will also create new opportunities, particularly in AI development and specialized services. Overall, the future of India's startup ecosystem looks promising, with many new companies expected to emerge and contribute to the economy.