Startups positioning India for exponential economic growth: Zupee founder Dilsher

Startups in India are revolutionising experiences, and positioning the nation for exponential economic growth, Dilsher Malhi, founder and CEO of online gaming platform Zupee, said on Monday.

Speaking at the India Internet Governance Forum (IIGF) 2024, Malhi said startups are adding value to society's experiences and redefining how people experience education, healthcare, travel, and entertainment.

"India has become the world's third-largest startup ecosystem and we believe this has happened mainly because of the endless possibilities that arise from a credible digital public infrastructure consisting of UPI and Aadhaar, and the penetration of mobile phones across the country.

Now with the Bharat 6G vision, the semiconductor mission and the AI mission, startups are positioning India for an exponential economic growth," he said.

Speaking on the concept of "gamification" in addressing real-world challenges, Malhi described how startups are evolving from merely providing solutions for immediate problems--what he referred to as "painkillers"--to offering enriching experiences that enhance well-being, termed "vitamins."

"Perhaps we are on the path of moving just from painkillers towards more invigorating vitamins and towards measuring prosperity not just by GDP (Gross Domestic Product) but by GWQ--Gross Wellness Quotient," he said.

Further, he spoke about the transformative potential of tech-driven innovations originating from startups and mentioned how Nvidia began by creating chips for online gaming and has since become one of the most valued companies globally.

Citing research, he emphasised the alternative use cases of gaming tech in fields like education and cybersecurity."Studies in the UK have highlighted that advanced game engine technology is being used by surgeons to train for surgeries virtually.

The oil and gas industry is leveraging AR,VR (augmented reality, virtual reality) technology to reduce travel time and thereby reduce emissions associated with transportation.

There are several other examples of this multiplier effect that gaming tech has on enhancing education, financial services, cyber security etc," he said.

He further discussed the unique position of Indian startups in disrupting traditional e-commerce models dominated by foreign players, adding that the instant delivery model of Indian companies is disrupting the e-commerce business in a big way.

The IIGF 2024, organised by Ministry of Electronics and Information Technology (MeitY) and the National Internet Exchange of India (NIXI), is being held on December 9-10, 2024.