The Indian startup ecosystem is undergoing a seismic transformation. What began as a wave of consumer tech and fintech innovation is now evolving into something far deeper and more aligned with national priorities. Speaking at Startup Mahakumbh, one of the country’s largest gatherings of entrepreneurs and investors, Anjali Bansal, Founding Partner of Avaana Capital, described this moment as “Version 3.0 of the Indian startup story.”
“This is not just about apps or convenience anymore,” Bansal stated.
“India is now building deep technology solutions for energy, climate, defence, and food security. It’s about solving India’s biggest challenges—and the world’s.”
Ever since the start of the Startup India initiative in 2016, India has seen an explosion of entrepreneurial energy. Today, with over 10,000 startups represented at Mahakumbh, it’s clear that the spirit of innovation is not only alive but also rapidly maturing.
Bansal pointed out a fundamental shift in mindset: “Young people aren’t just seeking jobs—they are building companies, technologies, and futures.”
According to Bansal, the startup ecosystem has moved beyond building for urban consumers. The focus is now turning toward large-scale systems and sustainability.
Indian startups building for future
“We are seeing the emergence of serious innovation in clean energy, green manufacturing, precision agriculture, and biotech,” she said. Sectors such as energy transition, defense technologies, climate-resilient agriculture, and sustainable infrastructure are expected to fuel the next wave of Indian unicorns. India’s vulnerability to climate and supply chain disruptions makes it imperative to build self-reliance in energy and food, Bansal noted.
Framing her vision around the government’s ambitious goal of Viksit Bharat 2047, Bansal stressed the importance of building not just for the present, but for a future where India is a leading global power. “Much of India is yet to be built—our infrastructure, our energy systems, our sustainable cities. That’s where startups come in.”
When asked what advice she would give to entrepreneurs looking to raise funds, Bansal emphasized alignment.
“Build something meaningful. Then, choose a capital partner who believes in your journey, who sees the future with you—not just the valuation.”
As India continues its transformation into a global innovation powerhouse, one thing is clear: the country’s startups are no longer just chasing markets—they’re building missions.
Photo by; Al ghazali on Unsplash