It has been more than three years since the birth of ChatGPT kickstarted a global race for artificial intelligence, yet we don’t have a single tech company that is competing with the likes of OpenAI and DeepSeek. The numerous summits and conferences won’t help create technology. Our effort is to hold a mirror to the start-up ecosystem through our outperformers rankings.
- COVER STORY
- Editor's Note
It has been more than three years since the birth of ChatGPT kickstarted a global race for artificial intelligence, yet we don’t have a single tech company that is competing with the likes of OpenAI and DeepSeek. The numerous summits and conferences won’t help create technology. Our effort is to hold a mirror to the start-up ecosystem through our outperformers rankings.
In-DepthDespite AI hype and unicorn swagger, India doesn't yet have AI start-ups in the growth-stage—exposing a lack of ambition, capital and patience to flourish in deep tech
Start-Up Outperformers Rankings 2026: How Funding, Margins and Revenue Quality Define Sector LeadersThe Start-up Outperformers 2026 Rankings by Outlook Business highlight why no single metric wins, and how funding, margins and revenue quality together define the top start-ups
Emerging tech companies powered by AI are targeting a wide range of use cases, from debt collection to cloud-native security and supply-chain platforms for FMCG and retail brands
InterviewNR Narayana Murthy, co-founder of Infosys, reflects on leadership, governance and India’s entrepreneurial future in a wide-ranging conversation with Deepsekhar Choudhury. He argues for compassionate capitalism, founder accountability and deeper focus on IP creation
ColumnAccel's Prayank Swaroop discusses how quantum computing and robotics will define the next decade of technology, shaping the future of innovation and industry
These start-ups are re-writing the retail playbook by focussing on everything from India’s home appliances and beauty treatments to trendy, affordable clothing
ColumnNew consumer AI start-ups are making premium services like personal assistants, stylists or wealth advisers affordable to the mass market
India’s most resilient sector has seen a host of start-ups working across the spectrum, from building the country’s digital credit infrastructure to simplifying personal finance
InterviewAshutosh Sharma, head of India Ecosystem at Prosus, which has invested over $9bn in unicorns like Swiggy and Meesho, talks to Deepsekhar Choudhury about why India remains central to the firm’s long-term strategy. Edited excerpts
From applying AI to pathology and radiology workflows to focussing on wellness, this sector is redefining health tech one step at a time
The next green revolution is seeing companies focus on making last-mile delivery carbon-free, scaling battery swapping and simplifying rooftop solar adoption for Indian homes
InterviewAther Energy co-founder Swapnil Jain tells Rakshit Kumar and Nabodita Ganguly that technology is the only moat that new age entrepreneurs have to disrupt the big players. Edited excerpts
A look at the top 5 aerospace start-ups transforming space security through drones, launch vehicles and aerial intelligence systems.
InterviewS Krishnan, secretary, Ministry of Electronics and Information Technology talks to Deepsekhar Choudhury and Shruti Tripathi about IndiaAI Mission, AI start-ups and industry-research linkages among other issues. Edited excerpts
Series B and C start-ups are evaluated across three main areas: financial performance, funding and valuation, and operational capabilities
Recognising the importance of a strong start-up ecosystem for economic growth, states are competing to emerge as the preferred destination for entrepreneurs. Outlook Business ranks them on crucial parameters such as funding and investment, macroeconomic scenario, human capital and knowledge edge
The rise of a handful of states as centres of innovation and growth is not by chance. They have attracted money, carved out supportive policies and nurtured human capital to meet the needs of cutting-edge ideas, giving them a clear edge over other states
Karnataka's IT supremacy once again helps it secure pole position among states. But it is not resting easy on its laurels. It is now looking to become an IT Hardware hub
ColumnFor India, a sovereign wealth fund is a strategic instrument to secure ownership in the rails of the AI economy
From robust access to venture capital and supportive policies to thriving innovation ecosystems and entrepreneurial communities, these top 5 Indian cities provide the ideal environment where start-ups can flourish, scale rapidly and turn bold ideas into successful businesses
Delhi emerges as India’s leading start-up city, offering a quieter, less-crowded ecosystem with affordable infrastructure and ample room for start-ups to scale and grow compared to Bengaluru’s bustling tech scene
With just 17 women founders in India’s rapidly growing start-up ecosystem, the gender gap remains stark, highlighting systemic challenges and the urgent need to support and empower female entrepreneurs across industries, from tech and finance to consumer goods and health care
From venture capital giants to angel investors, these heavy hitters are fuelling India’s start-up ecosystem, backing innovative tech, fintech and retail ventures, and shaping the future of entrepreneurship across the country
ColumnThe transition from internal combustion engines to electric vehicles and new age hard tech offers India a chance for reset
In-DepthIgnored by VCs, start-ups in Tier-II and III cities aren’t finding the growth capital and talent to scale up into large businesses. And that is a cause for concern
In-DepthDrones and space-tech start-ups sorely need growth-stage funding to transition from prototype to production
InterviewShashank Kumar, co-founder and managing director of Razorpay, talks to Deepsekhar Choudhury and Tarunya Sanjay about how Esops are key to fast-growing start-ups. Edited excerpts
In-DepthWith the US and China roiling global trade, it is platforms such as WEF where smaller economies can make new and stronger friends
It has been more than three years since the birth of ChatGPT kickstarted a global race for artificial intelligence, yet we don’t have a single tech company that is competing with the likes of OpenAI and DeepSeek. The numerous summits and conferences won’t help create technology. Our effort is to hold a mirror to the start-up ecosystem through our outperformers rankings.
Despite AI hype and unicorn swagger, India doesn't yet have AI start-ups in the growth-stage—exposing a lack of ambition, capital and patience to flourish in deep tech
- Start-Up Outperformers Rankings 2026: How Funding, Margins and Revenue Quality Define Sector Leaders
The Start-up Outperformers 2026 Rankings by Outlook Business highlight why no single metric wins, and how funding, margins and revenue quality together define the top start-ups
Emerging tech companies powered by AI are targeting a wide range of use cases, from debt collection to cloud-native security and supply-chain platforms for FMCG and retail brands
NR Narayana Murthy, co-founder of Infosys, reflects on leadership, governance and India’s entrepreneurial future in a wide-ranging conversation with Deepsekhar Choudhury. He argues for compassionate capitalism, founder accountability and deeper focus on IP creation
Accel's Prayank Swaroop discusses how quantum computing and robotics will define the next decade of technology, shaping the future of innovation and industry
These start-ups are re-writing the retail playbook by focussing on everything from India’s home appliances and beauty treatments to trendy, affordable clothing
New consumer AI start-ups are making premium services like personal assistants, stylists or wealth advisers affordable to the mass market
India’s most resilient sector has seen a host of start-ups working across the spectrum, from building the country’s digital credit infrastructure to simplifying personal finance
Ashutosh Sharma, head of India Ecosystem at Prosus, which has invested over $9bn in unicorns like Swiggy and Meesho, talks to Deepsekhar Choudhury about why India remains central to the firm’s long-term strategy. Edited excerpts
From applying AI to pathology and radiology workflows to focussing on wellness, this sector is redefining health tech one step at a time
The next green revolution is seeing companies focus on making last-mile delivery carbon-free, scaling battery swapping and simplifying rooftop solar adoption for Indian homes
Ather Energy co-founder Swapnil Jain tells Rakshit Kumar and Nabodita Ganguly that technology is the only moat that new age entrepreneurs have to disrupt the big players. Edited excerpts
A look at the top 5 aerospace start-ups transforming space security through drones, launch vehicles and aerial intelligence systems.
S Krishnan, secretary, Ministry of Electronics and Information Technology talks to Deepsekhar Choudhury and Shruti Tripathi about IndiaAI Mission, AI start-ups and industry-research linkages among other issues. Edited excerpts
Series B and C start-ups are evaluated across three main areas: financial performance, funding and valuation, and operational capabilities
Recognising the importance of a strong start-up ecosystem for economic growth, states are competing to emerge as the preferred destination for entrepreneurs. Outlook Business ranks them on crucial parameters such as funding and investment, macroeconomic scenario, human capital and knowledge edge
The rise of a handful of states as centres of innovation and growth is not by chance. They have attracted money, carved out supportive policies and nurtured human capital to meet the needs of cutting-edge ideas, giving them a clear edge over other states
Karnataka's IT supremacy once again helps it secure pole position among states. But it is not resting easy on its laurels. It is now looking to become an IT Hardware hub
For India, a sovereign wealth fund is a strategic instrument to secure ownership in the rails of the AI economy
From robust access to venture capital and supportive policies to thriving innovation ecosystems and entrepreneurial communities, these top 5 Indian cities provide the ideal environment where start-ups can flourish, scale rapidly and turn bold ideas into successful businesses
Delhi emerges as India’s leading start-up city, offering a quieter, less-crowded ecosystem with affordable infrastructure and ample room for start-ups to scale and grow compared to Bengaluru’s bustling tech scene
With just 17 women founders in India’s rapidly growing start-up ecosystem, the gender gap remains stark, highlighting systemic challenges and the urgent need to support and empower female entrepreneurs across industries, from tech and finance to consumer goods and health care
From venture capital giants to angel investors, these heavy hitters are fuelling India’s start-up ecosystem, backing innovative tech, fintech and retail ventures, and shaping the future of entrepreneurship across the country
The transition from internal combustion engines to electric vehicles and new age hard tech offers India a chance for reset
Ignored by VCs, start-ups in Tier-II and III cities aren’t finding the growth capital and talent to scale up into large businesses. And that is a cause for concern
Drones and space-tech start-ups sorely need growth-stage funding to transition from prototype to production
Shashank Kumar, co-founder and managing director of Razorpay, talks to Deepsekhar Choudhury and Tarunya Sanjay about how Esops are key to fast-growing start-ups. Edited excerpts
With the US and China roiling global trade, it is platforms such as WEF where smaller economies can make new and stronger friends































