From hospitality to financial services – Top 10 industries for new startups in India

From hospitality to financial services – Top 10 industries for new startups in India
India’s burgeoning startup ecosystem is highly dynamic. However, some industries have a distinguished standing as fertile ground for innovation, growth, and entrepreneurial success. Hurun India’s "India's Top 200 Self-made Entrepreneurs of the Millennia 2023" report has shed light on the top 10 industries that have accommodated and nurtured the entrepreneurial dreams of new startups in India.

These industry sectors have not only captured the imagination of entrepreneurs but also offer promising avenues for those seeking to carve their niche in the business world.

Based on the Hurun India report, we explore the industries in India that represent the forefront of India's startup revolution.

Top 10 Industries for new startups in India
RankIndustry domainNumber of most successful startupsDistinguished startup founders in the sectorMost Valuable startup by the distinguished founder
1Financial Services46Hashil Mathur, Shashank KumarRazorpay
2Retail30Radhakishan DamaiAvenue Supermarts
3Healthcare26Abhay Soi Max
4Software & Services21Deep KalraMake My Trip
5Transportation & Logistics16Deepinder GoyalZomato
6Education10Chaitanya Kalipatnapu, Ashwin DameraEruditus
7Consumer Goods9Ravi ModiVedant Fashions
8Media & Entertainment8Bhavit Sheth, Harsh JainDream11
9Services7Abhiraj Singh Bhal, Varun Khaitan, Raghav ChandraUrban Company
10Hospitality6Ritesh AgarwalOyo

1. Financial Services

Financial Services in India is the most promising sector for startups. This industry domain has encouraged 46 startups by some notable visionaries. The most illustrious startup founders in this sector are Hashil Mathur and Shashank Kumar, who have funded Razorpay, which has revolutionized online payments by offering innovative and developer-friendly APIs and supporting hassle-free integration.

2. Retail

The retail sector in India has attracted 30 startups that have been able to achieve their entrepreneurial dreams in the domain. One of the notable personalities credited for his distinguished startup in the retail domain is Radhakishan Damani, the founder of Avenue Supermarts.

3. Healthcare

Third in the list of top 10 industries for new startups is Healthcare, which has allured 26 new experiments in the domain. The most notable startup founder in this sector is Abhay Soi, the brain behind Max.

4. Software & Services

Fourth industry in the list is Software & Services. This industry domain has welcomed 21 startups to thrive in its potential fold. Deep Kalra of Make My Trip is a notable startup founding personality in this sector.

5. Transportation & Logistics

Having attracted 16 brand new entrepreneurial startup ventures, transportation and logistics stands in the 5th place in the list. Deepinder Goyal , the founder of Zomato is a highly popular name in this industry domain, regarded for his stupendous achievement.

6. Education

The education sector in the country has inspired 10 most successful startup ventures and thus stands at the 6th place in the list. The highly reputed startup founders in this domain are Chaitanya Kalipatnapu and Ashwin Damera; their notable creation is Eruditus, ‘committed to teaching the skills of the future’.

7. Consumer Goods

‘Consumer Goods’ is found in the 7th place in the list with 7 startups having realized their entrepreneurial dreams in this sector. Ravi Modi, the founder of Vedant Fashions is an illustrative visionary in this domain with a successful track record for his achievements.

8. Media & Entertainment

Nurturing the entrepreneurial visions of 8 startups, Media & Entertainment occupies the 8th place in the list. The team that stands out in this domain is that of Bhavit Sheth and Harsh Jain, who hve together created Dream11.

9. Services

There are 7 highly successful startups in the Services sector and hence this industry domain stands in the 9th place in the list of potential startup environments. The team founding the Urban Company consisting of Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra is a highly famous founding team in the sector.

10. Hospitality

Reserving the tenth place for its domain, the hospitality industry has accommodated the aspirations of 6 startups in this sector. The most notable founder in this realm is Ritesh Agarwal, the visionary entrepreneur who has championed Oyo.