ADIF aims to rank the ecosystem of Indian startups in the top 3 worldwide by 2030

New Delhi: The Alliance of Foundation plans to rank the Indian startup ecosystem in the Global Top 3 by 2030, with a focus on finding the right policy framework to spur growth, a senior official said on Wednesday.

The issues that startups face with Google Play Store and Apple’s App Store can be the starting point for conversations with many startups and lead them to find the right path for both parties, the executive director said. from ADIF, Sijo Kuruvila George.

“We are now the third largest startup market in the world and are home to more than 50 unicorn startups, only behind the United States (122) and China (92). While we are the third largest in size, the Indian startup ecosystem revolves around the 1920s in terms of rankings, he said.

“If we are the third largest 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 in the world by 2030 “, he added.

According to George, ADIF will seek to build an alliance of founders’ trust in the coming days where a lot of knowledge sharing can take place.

“At ADIF, we will compile this knowledge and pass it on to our young entrepreneurs and help fuel the next wave of entrepreneurs,” he said. “Plus, our ecosystem is still nascent, so it’s understandable that politicians haven’t completely caught up. . ADIF will thus also endeavor to advocate for favorable policies, to find solutions in the best interests of everyone and to lead them.

Google has offered to charge a fee of up to 30% on revenue generated by apps through its Play Store, in accordance with Apple’s App Store policy. But since most apps and startups in India do not have high margins, so there is a need for ADIF to discuss the matter with startups, George said.

He said the state of Arizona in the United States has developed app store fee guidelines, which is a first sign to start. “Considering the importance of some of these issues, I think this is a very interesting conversation to have. We fully recognize that this (30% reduction in app revenue) is a problem. We all need to find out the right way forward Either by regulation or by way of collaboration.

He said there are issues around angel investors, cross-border payments, etc., where ADIF will work to improve.

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