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Top Ten Entrepreneurs of India 2022

August 5, 2022

Do you love the idea of starting your own venture? If yes, then entrepreneurship is the perfect career option for you, especially since it provides financial stability along with plenty of opportunities for professional growth. Whether you want to start a new company or expand your existing business, you can become an entrepreneur. This article gives you the names of the Top Ten Entrepreneurs of India 2022.

Entrepreneurial skills and capabilities are necessary to succeed in today’s competitive economy. An entrepreneurial mindset enables individuals to manage uncertainty and change effectively. The entrepreneurial spirit helps them face challenges, overcome obstacles, and take risks. In addition, the ability to adapt to changing circumstances allows entrepreneurs to capitalize on opportunities and seize untapped markets.

Since the beginning of the Startup India Initiative in 2015, India has been on the trajectory of rapid business growth led by Indian capable entrepreneurs. Startups offer vast economic benefits to the economy, leading to innovation and creating new job opportunities. 

Startups are known to create whole new industries in economies, evident from the fact that the social media industry is projected to grow at a CAGR of 25.385% to reach a market size of $ 939.679 billion by the year 2027, beginning with a young entrepreneur’s ambitious startup.

India has emerged as the 3rd largest ecosystem for startups globally with over 62,200 DPI IT-recognized startups across 636 districts of the country as of 2022. Today India is home to 85 unicorns with a total valuation of $ 87.89 Billion.

Who is an entrepreneur?

An entrepreneur is an individual person who builds a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a completely new business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas. 

"India has about 50,000 startups in India in 2018; around 8,900 – 9,300 of these are technology-led startups 1300 new tech startups were born in 2019 alone implying there are 2-3 tech startups born every day."

Source: https://www.startupindia.gov.in/content/sih/en/international/go-to-market-guide/indian-startup-ecosystem.html

Here are the Top Ten Entrepreneur of India 2022

1. Ritesh Agarwal

Ritesh Agarwal a billionaire from India is the founder and CEO of the most affordable hotel chain in India OYO. He started his journey at the age of 20 with a vision of creating a solution for people looking for affordable hotels around the globe. 

Ritesh was a tech freak from a very young age as he started coding when he was just 10 years old. Another of his passions was to travel around the world. 

While he travels across India, he realizes that there is a need for affordable hotels which provide decent services in India. The affordable hotels do not provide necessary services such as AC, Wi-Fi, comfortable beds and breakfast facilities. This thing gave him an idea to do something to solve this problem.  Which gave a kick start to his entrepreneurial journey.

2. Advait Thakur

Advait Thakur–CEO and founder of Apex Infosys and an Internet entrepreneur who launched his first website at the age of 9. Apex Infosys India is primarily involved in AI, ML, and IoT sector offerings digital solutions. Advait holds the 4th rank under the ‘Wikia’s Young Entrepreneurs Under 20 List’ of 2017. He also works with Google’s AI and Cloud platform and is a Google, Bing, and Hubspot certified professional.

He also contributes to social causes and has worked for NGOs named ‘Satish Haware Divyang Center’ and ‘Beautiful Tomorrow Foundation’. He also developed an app ‘Autism Awareness’ for Google Assistant which helps spread awareness about autism and other related disorders along with their symptoms.

3. Vijay Shekhar Sharma

Vijay Shekhar Sharma is the Founder and CEO of Paytm. He started indiasite.net in 1997 while in college later he sold it for $1 million two years later. In 2000, he started One97 Communications. The company offered mobile content, including news, cricket scores, ringtones, exam results, and much more. 

 One97 is the parent company of Paytm, a mobile wallet, which was launched in 2011.  Paytm was founded in August 2010 with an initial investment of US$2 million by its founder. Paytm started as a prepaid mobile and DTH recharge platform and later added other services to it. Paytm specializes in Digital payment systems, Financial Services and E-commerce.

4. Ranveer Arora Allahbadia

Ranveer Allahbadia is a social media entrepreneur, YouTuber, motivational speaker, leadership coach, and soon-to-be author. He’s also known as – BeerBiceps. He is most recognised for his YouTube inspirational and motivational videos.  Along with that, a podcast host who runs India's TOP Podcast - "The Ranveer Show" both in English & Hindi.

5. Tilak Mehta

Tilak Mehta is one of the young entrepreneurs in India and is the founder of an app-based courier service in Mumbai known as ‘Papers n Parcels’, which is a digital courier company that provides one-day parcel services, collaborating with the Mumbai Dabbawalas. This courier service was to ensure the same-day delivery of goods to more than thousands of people at a lower cost within the region of Mumbai.

Papers N Parcels is a company that provides door-to-door pickup and delivery services for about everything, starting from a pen to all of your important things. On a daily basis, it delivers roughly 1200 parcels to their destinations on the same exact day. 

6. Sreelakshmi

She is so talented that she developed her first website at the age of 6. She even designed the website of the school she was studying at and then she started her own design company that she founded in 2009, at just 11 years old.

Sreelakshmi is the Youngest CEO and Youngest Web Designer in the world. She also has received many awards. Apart from design, she has also founded TinyLogo. Her companies provide services in web design, SEO, and other fields to many popular brands.

7. Divya Gandotra Tandon

As a YouTuber, Divya entered the business world. She began uploading, unpacking and reviewing videos to her YouTube account to help people understand what they are purchasing. 

She founded TheScoopBeats, a news and media organization. She is a multi-talented young female entrepreneur in India with experience in domains such as celebrity management, social media management, and online influence.

8. Farrhad Acidwalla

Farrhad Acidwalla is one of the World’s Youngest Entrepreneurs, investors and TEDx speakers who are the originator of a Web Developing Media Firm called Rockstah Media and CYBERNETIC DIGITAL. His organization helps in web improvement, ad, advertising, and marking. 

He has led teams that have assisted in securing brands like Atlassian, Asus, Lenovo and Microsoft. He is a frequently invited speaker at several educational institutions across India, including IITs and IIMs. 

9. Kavita Shukla

Kavita is the Founder & CEO of The FRESHGLOW Co. and the inventor of FRESHPAPER, a simple innovation taking on the massive global challenge of food waste. Today, FRESHPAPER is used by farmers and families and The FRESHGLOW Co. has partnered with some of the largest retailers in the world from Whole Foods to Walmart. 

Her work has been featured by The New York Times, The Washington Post, Vogue, Oprah Magazine, Glamour, The Today Show, and CNN. Kavita has been featured as one of Fast Company's “7 Entrepreneurs Changing the World.” She has also been named to the Forbes “30 under 30” list and TIME Magazine's "5 Most Innovative Women in Food." Kavita holds a BA from Harvard University.

10. Sumit Shah

Sumit Shah is the Founder and CEO at Dukaan App. A DIY (Do It Yourself) platform that enables merchants with zero programming skills to set up their e-commerce store using their smartphones. The platform was launched in just over 48 hours, and millions of merchants have since started selling online using the app. 

Dukaan is an app that allows offline shops to sell their products and services online through WhatsApp. This lets you create a catalogue of your products on your phone and share it with your customer. With over 3.5M sellers in over 40 categories, Dukaan has touched 4,000 cities in India

India: Largest Open Internet Market 

With over 560 million internet users, India is the second-largest online market in the world, ranked only behind China and it was estimated that by 2024, there would be over 650 million internet users in the country.

From a technology side, India is the world’s largest open internet market with the largest per-capita data consumption worldwide and has a huge runway of growth overcoming the years. Early people were using the internet for entertainment or for getting connected to each other but in 2022 things have been changing.

People are doing their business startups that are completely dependent on the internet. Social media has given changes to entrepreneurs to grow their knowledge, and businesses and create a huge market opportunity with over billion-plus consumers.

For over a decade now, India has been amongst the fastest-growing economies of the world with its active internet user base is expected to keep getting an increase in the next five years and it is estimated to reach 900 million by 2025 from around 622 million in 2020. This increase will be driven by higher adoption in rural India, which has hit a 13% growth to 299 million internet users over the past year. 

Changing perceptions Of People towards Entrepreneurship 

Most start-up owners in India are youths who have to put their ideas and dreams into practice and create opportunities in the markets for themselves and for others too. Entrepreneurs are not building startups, they also help India to grow. They also have strong motivations, problem-solving skills, patience, and the desire to achieve goals in the economy. 

The entrepreneurs will plan everything properly and take smart movements for the benefit of a business. Apart from that, they know how to overcome risks, and create solutions and other problems after opening a company in India. 

The successful stories of new companies such as Zivame, Zomato, Ola cabs, Oyo, Big Basket, Sugar cosmetic, Boats, and Vedantu have completely changed the perception of entrepreneurship. Start-ups are earning more income these days due to proper planning, and allocation of funds, they know what is exactly missing from society and create such products which are not only creating businesses but also helping society to change their norms.

Budget of 2022 for Entrepreneurs

In the budget for 2022, the government has made a conscious effort to take this entrepreneurial journey forward through a variety of startups. This time around, the extensive startup network and entrepreneurs of the country are being strategically used for furthering other developmental schemes as well. 

The government has made a conscious effort to take this entrepreneurial journey forward through a variety of actions. The substantial startup network of the country is being strategically used for furthering other developmental schemes as well. 

A fund along with capital, raised under the co-investment model, will be facilitated through NABARD - National Bank For Agriculture And Rural Development. This is to finance startups for agriculture & rural ventures, relevant to the farm produce value chain.

 The activities for these startups will include approving and launching the Central Sector Scheme of “Formation and Promotion of 10,000 Farmer Producer Organizations(FPOs)” to form and promote 10,000 new FPOs till 2027-28 with a total budgetary outlay and technology including IT-based support. 

There are 1,338 AgriTech startups in India as of last year and these startups will play an important role in revolutionizing Indian agriculture in the near future.

Further, startups will be promoted to facilitate ‘Drone Shakti’ through varied applications, technology and for Drone-As-A-Service (DrAAS). In select ITIs, in all states, the required and certificated courses for skilling will be started. 

Drones have multidimensional uses on their own from agriculture to defence and India has seen several promising startups in the domain. Further promotion of such startups will lead to the development of a robust drone industry as well.

Defense R&D will be opened up for the industry, including startups, with 25% of the defence R&D budget earmarked. Private industry will be encouraged to take up the

design and development of military platforms and equipment in collaboration with the Defense Research & Development Organization (DRDO) is an agency under the Ministry of Defense and other organizations through the SPV model. 

An independent nodal umbrella body will be set up for meeting wide-ranging examination and certification requirements. Startups in India have shown zest for entering into diverse fields and opening up defence will open up a whole new set of opportunities for entrepreneurs. 

Summary 

Since the beginning of the Startup India Initiative in 2015, India has been on the trajectory of rapid business growth led by Indian capable entrepreneurs. Startups offer vast economic benefits to the economy, leading to innovation and creating new job opportunities. With over 560 million internet users, India is the second-largest online market in the world, ranked only behind China and it was estimated that by 2024, there would be over 650 million internet users in the country. 

The entrepreneurs will plan everything properly and take smart movements for the benefit of a business. Apart from that, they know how to overcome risks, and create solutions and other problems after opening a company in India. 

FAQ's:

What percent of entrepreneurs are successful?

Data from the BLS shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more.

Why do 90% of startups fail?

According to business owners, reasons for failure include money running out, being in the wrong market, a lack of research, bad partnerships, ineffective marketing, and not being an expert in the industry.

Which country is the most entrepreneurial?

The United States has been recognized as the world's most entrepreneurial country, according to the CEOWORLD magazine Entrepreneurship Index, 2021, while Germany and the United Kingdom placed second and third, respectively.

Who is the youngest female CEO?

Chanel has appointed Leena Nair as global chief executive officer, grabbing the company's youngest and first female CEO after her 30-year tenure at consumer goods group Unilever. She'll take the helm at the end of January 2022, the Financial Times reported.

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