Changemaker Industries in Indian Startup World from 2016 to 2024

Waste Management startups have shown remarkable growth, expanding from just 24 ventures in 2020 to 1,327 by 2024—a 55-fold increase that reflects growing environmental consciousness and policy support for sustainable waste solutions. This sector’s consistent upward trajectory suggests a maturing ecosystem addressing India’s significant waste challenges through innovative approaches. The Toys and Games sector has demonstrated impressive growth as well, increasing from merely 4 startups in 2020 to 490 by 2024. This 122-fold expansion likely stems from growing recognition of India’s cultural heritage in gaming, rising domestic demand, and government initiatives like “Vocal for Local” that encourage indigenous toy production. This sector represents an intersection of cultural preservation, education, and entertainment innovation.

Biotechnology startups have surged from 11 to 587 over the five-year period, representing a 53-fold increase. This dramatic growth reflects India’s strengthening capabilities in life sciences research, pandemic-driven innovation, and increasing investment in healthcare technologies. The sector’s consistent growth trajectory suggests sustained momentum in addressing healthcare challenges through technological innovation. The Logistics sector has transformed substantially, expanding from 19 startups in 2020 to 877 in 2024—a 46-fold increase. This growth corresponds with the e-commerce boom, infrastructure development, and the implementation of policies like GST that streamlined interstate commerce. The sector’s strong performance indicates its critical role in addressing India’s complex distribution challenges across diverse geographies.

Perhaps most striking is the Non-Renewable Energy sector’s pattern, which grew substantially from 1,244 startups in 2020 to peak at 2,139 in 2023, before dramatically declining to just 198 in 2024. This precipitous drop likely signals a fundamental market shift toward renewable energy solutions, changing investment patterns, and possibly policy interventions favoring sustainable alternatives. The reversal highlights how quickly startup ecosystems can respond to changing technological and environmental priorities. Collectively, these trends illustrate India’s startup ecosystem evolving toward addressing fundamental challenges in sustainability, logistics infrastructure, healthcare innovation, and indigenous product development. The growth in waste management, biotechnology, and logistics particularly reflects alignment with national priorities around environmental sustainability, healthcare access, and infrastructure development. Meanwhile, the decline in non-renewable energy startups signals a potentially historic transition in India’s approach to energy security and climate responsibility.