For the longest of time in India, innovation was either tucked away in the R&D centres of government enterprises, academia and the MNEs or was strewn around unorganised markets in the form of the cheap Jugaad. But in the last decade India has seen an unprecedented rise in its innovation ecosystem. With over 35 Unicorns (and counting), India has become the third-largest hub of Unicorns globally, something that is not even remotely replicable by others in similar class of economies (middle-income group). From playing a catch-up game in the post-liberalisation decades to creating genuine innovations that solve real unmet needs and disrupt categories - at scale, India has outperformed despite obvious constraints.
