Whenever you see a successful business, someone once made a courageous decision.
Peter F. Drucker
Startups are known for their ability to disrupt industries and create innovative solutions to some of the world’s most pressing challenges. Recent years have witnessed a surge in startups aiming for both social and environmental impact alongside financial success. These impact-driven startups are playing a critical role in driving progress towards a more sustainable and equitable world. In this, we will explore the top 10 best startups that are making a real impact in their respective industries.
We’ll showcase their innovative solutions, societal and environmental impact, and the potential for scalable, lasting change. Startups are addressing critical global challenges, from renewable energy and healthcare to education, shaping a better world.
We aim to inspire entrepreneurs to pursue impact-driven solutions, prioritizing people and the planet alongside profit. Also, We believe that by showcasing the success stories of these startups, we can help to create a more supportive ecosystem for social and environmental innovation, and ultimately drive progress towards a more sustainable and equitable future.
We will also discuss the challenges these startups face and the lessons that can be learned from their journeys. So let us start with the list of best startups that made a real impact in the market.
1. Learn Transformation
Learn Transformation is a platform that is dedicated to providing leaders from all walks of life with the resources they need to succeed.
The USP of the company
The platform offers a wide range of study materials, including e-books, video courses, and other educational resources that are designed to help leaders improve their skills and stay up to date with the latest trends and best practices in their field.
In addition to its study materials, Learn Transformation also offers a range of gifts and other perks to its members. These may include exclusive access to webinars, networking opportunities, and other events that are designed to help leaders connect with one another and learn from their peers.
Benefits for Leaders
The Learn Transformation platform also features a range of blogs and vlogs that cover a wide range of topics related to leadership and professional development. These blogs and vlogs offer leaders invaluable insights and inspiration as they strive to achieve their goals.
Overall, Learn Transformation is a valuable resource for leaders who are looking to enhance their skills, build their networks, and stay on the cutting edge of their field. By offering diverse resources and opportunities, the platform contributes to shaping a globally informed and effective generation of leaders.
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Leader’s Tip
For the purpose of creating a dynamic, resilient team that supports long-term growth and societal impact, forge solid alliances and give diversity first priority.
2. BYJU’S
CEO of the company
BYJU’S is an edtech startup that has quickly become one of the most successful and impactful companies in India. Founded in 2011 by Byju Raveendran, the company started as a platform for video lessons that helped students prepare for competitive exams in India. Today, it offers personalized learning solutions to students across India, emphasizing accessibility and engagement in education.
Factors for its great success
One of the key factors behind BYJU’S success is its innovative approach to learning. The company employs interactive video lessons, quizzes, tests, and personalized feedback to make learning enjoyable and effective for students.
The platform also uses data analytics and artificial intelligence to track student progress and provide customized learning paths based on their strengths and weaknesses.
Another key factor behind BYJU’S success is its commitment to social impact. The company has launched several initiatives to promote access to education for underprivileged students in India, including providing free access to its learning app to students from low-income families. It has also partnered with several NGOs and government organizations to support education initiatives across India.
Growth of the company
BYJU’S has seen tremendous growth in recent years, with over 100 million students now using its platform. The company has also attracted significant investment, with several high-profile investors including the Chan Zuckerberg Initiative and the Qatar Investment Authority. In 2021, BYJU’S became India’s most valuable startup, with a valuation of over $16 billion.
Overall, BYJU’S is a shining example of how technology can be leveraged to create positive social impact. By providing affordable and effective learning solutions to students across India, the company is helping to promote education and unlock opportunities for millions of young people. Furthermore, BYJU’S success story demonstrates the power of entrepreneurship in driving positive change in society.
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3. Zomato
CEO of the company
Zomato is an online food delivery and restaurant discovery platform that has become one of the most successful startups in India. Founded in 2008 by Deepinder Goyal and Pankaj Chaddah, the company started as a restaurant directory and has since expanded to include online food ordering and delivery services.
Key factors behind success
One of the key factors behind Zomato’s success is its focus on customer experience. The platform provides a seamless and user-friendly experience for customers, with features like easy-to-use ordering, real-time tracking of orders, and a vast selection of restaurants and cuisines to choose from.
Zomato also uses data analytics and machine learning to provide personalized recommendations and offers to customers, enhancing their overall experience.
Another key factor behind Zomato’s success is its impact on the food industry in India. The platform has helped to bring more visibility and customers to small and local restaurants, supporting the growth of the food industry and creating job opportunities.
Zomato has also launched several initiatives to promote sustainable and ethical practices in the food industry, including campaigns to reduce food waste and promote environmentally friendly packaging.
Zomato has seen tremendous growth in recent years, with a presence in over 10,000 cities across 24 countries. The company has also attracted significant investment, with high-profile investors including Ant Group, Sequoia Capital, and Temasek Holdings. In 2021, Zomato went public with a highly successful IPO, raising over $1 billion in funding.
Building towards social cause
Overall, Zomato is a prime example of how technology can be leveraged to create positive social impact.
By providing convenient and affordable food delivery services to customers while supporting local restaurants and promoting sustainable practices in the food industry, Zomato is helping to build a more sustainable and equitable future for all. Zomato’s success story demonstrates the power of innovation and disruption in creating positive change in traditional industries.
4. Ola
Ola is a ride-hailing startup that has become one of the most successful and impactful companies in India.
Founder of the company
Founded in 2010 by Bhavish Aggarwal and Ankit Bhati, the company started as a platform for booking taxis and has since expanded to include a range of transportation services, including bike taxis, car rentals, and shuttle services.
Key factors behind success
One of the key factors behind Ola’s success is its focus on affordability and accessibility. The platform provides a range of transportation options at affordable prices, making it accessible to millions of people across India. Ola also uses technology to provide a seamless and convenient experience for customers, with features like real-time tracking and cashless payments.
Another key factor behind Ola’s success is its impact on the transportation industry in India. The platform has helped to create job opportunities for thousands of drivers, while also promoting sustainable practices in the industry, such as electric vehicle adoption.
Ola has introduced multiple driver-partner welfare programs, including health benefits, insurance coverage, and financial assistance.
Ola has seen tremendous growth in recent years, with a presence in over 250 cities across India and several international markets. The company has also attracted significant investment, with high-profile investors including SoftBank, Tencent, and Temasek Holdings. In 2019, Ola launched its own electric scooter, the Ola S1, furthering its commitment to sustainability and innovation.
Growth towards social impacts
Overall, Ola is a prime example of how technology can be leveraged to create positive social impact. By providing affordable and accessible transportation options while promoting sustainable and ethical practices in the industry, Ola is helping to build a more equitable and sustainable future for all.
Ola’s success story demonstrates the power of innovation and disruption in transforming traditional industries, and its impact on job creation and sustainability has been significant in India’s economy.
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5. Paytm
Paytm is a digital payment and financial services startup that has revolutionized the way Indians transact online.
Founder of the company
Founded in 2010 by Vijay Shekhar Sharma, Paytm started as a mobile recharge and bill payment platform but has since expanded to include a range of financial services, including digital wallets, bank accounts, and credit cards.
One of the key factors behind Paytm’s success is its user-friendly and secure platform. Paytm’s mobile app and website allow users to easily make digital payments and manage their finances from their smartphones. The company has also invested heavily in cybersecurity measures to ensure that users’ transactions and data are protected.
Key factors behind success
Another key factor behind Paytm’s success is its impact on financial inclusion in India. The platform has helped to bring millions of people into the formal banking system, providing access to financial services that were previously out of reach. Paytm has also launched several initiatives to promote financial literacy and education, such as its Paytm Money app for mutual fund investments.
The company boasts a global readership with diverse genre interests, eager to discover new authors and captivating works. The company has also attracted significant investment, with high-profile investors including SoftBank, Alibaba, and Berkshire Hathaway. In 2020, Paytm launched its own mini-app store, furthering its commitment to promoting digital innovation and entrepreneurship in India.
Overall, Paytm is a prime example of how technology can be leveraged to create positive social impact. By providing easy and accessible digital payment and financial services, while promoting financial inclusion and literacy, Paytm is helping to build a more equitable and inclusive future for all Indians.
Paytm has spearheaded digital transformation in India’s economy, especially during the COVID-19 pandemic, contributing to the country’s technological advancement. Its platform has enabled contactless payments and helped to reduce the spread of the virus.
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6. Locus
It is a startup that specializes in logistics optimization software.
CEO of the company
Founded in 2015 by Nishith Rastogi and Geet Garg, the company uses advanced machine learning algorithms to help businesses optimize their supply chain operations and improve efficiency.
Key features of the company
One of the key features of Locus’s platform is its ability to provide real-time visibility into logistics operations. Using data analytics and artificial intelligence, Locus can provide detailed insights into every step of the supply chain, from warehouse operations to delivery routes. This allows businesses to make data-driven decisions and optimize their logistics processes in real-time.
Another important aspect of Locus’s impact is its focus on sustainability. By optimizing delivery routes and reducing unnecessary transportation, Locus helps businesses reduce their carbon footprint and promote sustainable practices.
The company has also launched several initiatives to promote environmental sustainability, such as its ‘GoGreen’ campaign, which encourages its clients to reduce their use of single-use plastic.
Locus has experienced significant growth recently, serving major clients in e-commerce, retail, and FMCG industries. The company’s innovative platform has earned numerous accolades, such as the ‘Cool Vendor’ recognition by Gartner in 2019.
What to Learn from them
Overall, Locus’s impact on the logistics industry is significant, as it helps businesses improve efficiency, reduce costs, and promote sustainability. Its focus on innovation and use of advanced technologies like machine learning and artificial intelligence makes it a leader in the logistics optimization space, with the potential to transform the entire industry.
In addition to its logistics optimization platform, Locus has also launched several other products and services, such as its “Locus Robotics” solution, which uses autonomous mobile robots to improve warehouse operations. The company has also expanded globally, with offices in the US, Indonesia, and Singapore, among other locations.
7. Kiva
Kiva is a non-profit organization and a crowd-funding platform that aims to connect lenders with borrowers in order to alleviate poverty.
CEO of the company
Established in 2005 by Matt Flannery and Jessica Jackley, the organization has evolved into one of the world’s most successful microfinance platforms.
Kiva’s platform allows lenders to browse through a range of loan requests from entrepreneurs in developing countries and make small loans to those that they choose. These loans are typically used to support small businesses, provide education, or improve access to clean water and energy.
Key features of the company
One of the key aspects of Kiva’s impact is its focus on financial inclusion. By providing access to capital to entrepreneurs who might not otherwise have it, Kiva helps to promote economic growth and alleviate poverty. Additionally, Kiva has a strong track record of supporting women entrepreneurs and those from marginalized communities.
Another important aspect of Kiva’s impact is its emphasis on transparency and accountability. Local partners in each operating country collaborate with the organization to verify loan requests and guarantee the proper use of funds.Additionally, Kiva provides regular updates to lenders on the progress of the loan and the impact it is having on the borrower’s life.
Social Impacts of the company
Kiva has had a significant impact on the lives of borrowers around the world. To date, the organization has facilitated $1.7 billion in loans for 3.5 million+ borrowers across 80+ countries. Through its platform, Kiva has helped to create jobs, improve access to education and healthcare, and promote economic growth in some of the world’s poorest communities.
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8. Warby Parker
Founded in 2010 by Neil Blumenthal, Andrew Hunt, David Gilboa, and Jeffrey Raider, Warby Parker is a direct-to-consumer eyewear company. The company’s mission is to provide affordable, high-quality eyewear while also making a positive impact in the world.
One of the key ways that Warby Parker creates impact is through its “Buy a Pair, Give a Pair” program. For every pair of glasses purchased, the company donates a pair to someone in need through its non-profit partners. To date, the program has distributed over 7 million pairs of glasses worldwide, helping to improve access to vision care in underserved communities.
Social impacts of the company
Another way that Warby Parker creates impact is through its commitment to sustainability. The company uses eco-friendly materials in its products, such as acetate made from renewable resources and recycled stainless steel. Warby Parker also operates a carbon-neutral business and invests in renewable energy projects to offset its environmental impact.
In addition to its social and environmental impact, Warby Parker has disrupted the eyewear industry with its innovative business model. By selling directly to consumers online and in its brick-and-mortar stores, the company is able to offer high-quality glasses at a lower cost than traditional eyewear retailers.
Warby Parker’s impact on the world has not gone unnoticed. The company’s social and environmental initiatives have garnered numerous awards and recognition, such as its inclusion in Fast Company’s ‘Most Innovative Companies’ in 2021.
Overall, Warby Parker is a prime example of a startup that is creating impact in multiple ways. Through its “Buy a Pair, Give a Pair” program, commitment to sustainability, and disruptive business model, the company is making a positive difference in the world while also succeeding in the marketplace.
Warby Parker’s influence on eyewear and society makes it a sustainable fashion leader.
Leader’s Tip:
Adopt an innovative culture that promotes risk-taking, inventiveness, and adaptability—as successful startup strategies do.
9. Lanza Tech
LanzaTech, established in 2005, is a biotechnology startup dedicated to reducing carbon emissions and forging a sustainable future. The company uses innovative technology to convert carbon-rich waste streams, such as industrial off-gases and waste biomass, into valuable, low-carbon products.
One of LanzaTech’s most significant achievements has been its development of a process that can convert waste carbon emissions from industrial sources into ethanol, a widely used biofuel. The process has the potential to significantly reduce greenhouse gas emissions from industries such as steel manufacturing and chemical production.
In addition to its work on ethanol production, LanzaTech is also exploring other applications for its technology, including the production of sustainable aviation fuels and chemicals. The company has partnerships with a range of companies in industries such as aviation, petrochemicals, and consumer goods to help drive the transition to a low-carbon economy.
Company growth
LanzaTech’s innovative technology has garnered attention and support from investors and organizations around the world. To date, the company has secured over $500 million in funding and received numerous awards and accolades for its role in combatting climate change.
Overall, LanzaTech is a prime example of a startup that is using technology to create impact in the sustainability space. By developing innovative solutions for reducing carbon emissions and creating sustainable products, the company is helping to build a more resilient and sustainable future for us all.
Achievements of the company
LanzaTech’s work has not gone unnoticed by governments and organizations around the world. The company has been recognized with awards from organizations such as the World Economic Forum, the Cleantech Group, and the United Nations. LanzaTech has also been chosen to partake in multiple government-led initiatives that promote sustainable technology and carbon emissions reduction.
Through its innovative technology and strategic partnerships, LanzaTech is helping to lead the charge toward a more sustainable future.
FAQs
What are some examples of successful startups?
Some examples of successful startups include companies such as Uber, Airbnb, Slack, and Zoom. These companies have all disrupted their respective industries with innovative technology and business models.
How do startups typically raise funding ?
Startups typically raise funding from a variety of sources, including venture capitalists, angel investors, and crowdfunding platforms. In order to attract funding, startups must typically demonstrate a compelling business idea, a strong team, and a clear plan for growth and profitability.
What are some common challenges that startups face?
Startups face a variety of challenges, including limited funding, competition from established players, regulatory hurdles, and the need to rapidly adapt to changing market conditions. Success in the startup world often requires a combination of persistence, creativity, and the ability to pivot when necessary.
How do startups impact the economy?
Startups can have a significant impact on the economy by creating jobs, driving innovation, and generating economic growth. Successful startups can also attract investment and help to establish a thriving ecosystem of businesses and entrepreneurs in a given region.
What is a startup?
A startup is a new business venture that is typically focused on developing innovative products or services. Startups are often associated with technology and are known for their agility and ability to rapidly grow and scale.
Key Takeaways
- Startups are renowned for their capacity to upend whole sectors of the economy and provide creative answers to some of the most important problems facing humanity.
- The startups’ success is a result of their capacity to change course, adjust, and hold fast to a distinct vision while always learning and growing.
- These firms are prime examples of how disruptive technologies and business strategies can revolutionize entire sectors of the economy and tackle urgent global issues.