LONGHOUSE Consulting Presents
A surge of internet enterprises is being fueled by numerous former employees of India’s leading unicorns, who have departed to establish their own startups. This phenomenon has contributed to the growth of the world’s third-largest startup ecosystem.
Benefiting from a substantial influx of venture capital over the past decade, a total of 297 founders have initiated approximately 253 startups. This development has sparked discussions about a fresh iteration of the “startup mafia,” a term used within the industry to describe cohorts of entrepreneurs.
For the analysis of the report, LONGHOUSE Consulting focused on executives who had worked at a startup for a minimum of two years before departing to launch their own venture within the subsequent two years. The study specifically examined startups that were directly born out of a few companies (mentioned in the report), rather than considering the broader startup ecosystem. The list includes the executives whose startups either secured funding exceeding $1.5 million or have a team size of more than 25 employees. The data encompasses startups formed up until the conclusion of 2022.
The findings of the Mafia 2.0 report are based on exclusive data analysis conducted by LONGHOUSE Consulting for ETtech.
Download the report