The Economic Times Startup Awards 2026 spotlight the qualities shaping India’s evolving startup ecosystem, from profitability and customer reach to deep-tech innovation and social impact. As founders and investors gather in Bengaluru on October 9, this year’s recognised businesses offer insights into what helps startups build sustainable, competitive companies.
ET Startup Awards 2026 Highlight a Changing Startup Landscape
The Economic Times Startup Awards 2026, now in their 12th edition, recognise entrepreneurs and businesses making a significant contribution to India’s new-economy landscape. The awards bring attention to companies operating across financial technology, consumer brands, healthcare innovation, climate technology and artificial intelligence.
The winners were selected by an 11-member jury chaired by Rishad Premji, executive chairman of Wipro, following deliberations on August 25. The results were announced in August, with wealthtech platform Groww receiving the Startup of the Year award.
The awards ceremony is scheduled for October 9 in Bengaluru, with Union Minister for Commerce and Industry Piyush Goyal as the guest of honour. The event brings together founders, investors and business leaders at a time when Indian startups are increasingly expected to demonstrate not just rapid expansion, but also financial discipline and long-term business viability.
The selection process also reflects changing expectations within the startup ecosystem. Scale and profitability remain important, but governance, employment generation and wider societal impact are also considered when evaluating entrepreneurial success.
Why Groww Stood Out Among Indian Startups
Groww’s selection as Startup of the Year highlights the importance of combining customer reach with business performance. Founded in 2016 by Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, the Bengaluru-based company began as an investment platform focused on making mutual fund investing more accessible.
It subsequently expanded into stockbroking and other investment services, building a large customer base across India. The company went public in November 2025, marking an important milestone in its growth journey.
According to The Economic Times, the jury recognised Groww’s scale, profitability and accelerating growth in a highly competitive and regulated industry. Its performance helped it emerge ahead of other shortlisted businesses, including Meesho, Skyroot, Porter, Rapido and Sarvam.
Groww’s journey offers an important lesson for aspiring entrepreneurs. Building a widely used product is only one part of creating a successful company. Businesses must also develop reliable technology, manage operating costs, comply with regulations and maintain customer trust.
For startups in smaller Indian cities, this approach is particularly relevant. A business does not necessarily need to begin with a nationwide presence. It needs a clear customer problem, a product that addresses it effectively and a business model capable of supporting growth.
Profitability and Sustainable Growth Matter More Than Hype
India’s startup ecosystem has frequently celebrated rapid user acquisition, large funding rounds and ambitious expansion plans. However, the ET Startup Awards 2026 highlight a broader measure of success: whether a business can grow without compromising its financial sustainability.
Habuild, an online yoga and wellness platform, won the Bootstrap Champ award. The jury recognised its ability to expand without raising external capital and without relying heavily on marketing expenditure and customer acquisition spending.
Bootstrapped businesses operate with resources generated through their own operations or provided by their founders, rather than depending on outside equity funding. This approach can require slower expansion, but it may also give founders greater control over their businesses.
The model is not suitable for every startup. Businesses developing advanced technology, manufacturing infrastructure or capital-intensive products may require substantial external investment. Nevertheless, Habuild’s recognition demonstrates that venture capital is not the only route to building a meaningful enterprise.
For founders, the central question is whether spending contributes to measurable progress. Revenue quality, customer retention, operating efficiency and the ability to manage cash flow can be more meaningful indicators of long-term health than headline growth figures alone.
Deep-Tech Innovation Brings Research Closer to Real-World Problems
Another important feature of the 2026 awards is the recognition given to deep-tech businesses. These companies typically develop products based on scientific research, engineering advances or complex technological capabilities.
Theranautilus won the Top Innovator award for its work on magnetically steerable nanorobots designed for targeted applications inside the human body. The startup emerged from research at the Indian Institute of Science in Bengaluru and is exploring technology that could help address difficult medical challenges, including certain persistent root canal infections.
Its recognition illustrates how scientific research can become the foundation for new businesses. However, turning a laboratory breakthrough into a commercially viable healthcare product requires extensive testing, regulatory compliance, manufacturing capabilities and evidence of safety and effectiveness.
Armatrix, the winner of the Best on Campus award, offers another example of research-led entrepreneurship. Founded by IIT Kanpur graduates in 2024, the company is developing snake-like robotic arms designed to operate in confined and hazardous industrial environments.
Such systems could have applications in sectors including shipyards, refineries and defence facilities, where inspection and maintenance work can expose personnel to safety risks.
These ventures demonstrate why deep-tech startups need a different growth strategy from consumer internet businesses. Their progress depends on technical validation, research partnerships, intellectual property, access to specialised talent and the ability to convert prototypes into commercially useful products.
Women Entrepreneurs Are Building Businesses Across Sectors
The Woman Ahead category recognised two entrepreneurs in 2026: Pallavi Mohadikar, co-founder and chief executive of Palmonas, and Pallavi Shrivastava, co-founder and chief executive of Progcap.
Palmonas operates in the demi-fine jewellery segment, focusing on products designed for everyday use. Mohadikar previously built Karagiri, a digital sari business that was acquired by Mensa Brands in 2021, before co-founding Palmonas in 2022.
Shrivastava took a different route through financial services. After working in small-business financing, including experience at the International Finance Corporation and the World Bank, she co-founded Progcap to address credit gaps faced by small retailers.
The joint recognition highlights how entrepreneurship can create opportunities in very different markets. One business responds to changing consumer preferences, while the other addresses financing needs within India’s retail supply chains.
Their journeys also demonstrate the importance of understanding customers who may be underserved by established companies. Entrepreneurs who identify specific gaps in a market can build differentiated products and services rather than competing only on price or advertising.
For aspiring women founders, these examples offer a practical perspective on business building. Sector knowledge, customer understanding, execution and the ability to adapt can matter as much as access to funding.
Social Impact and Business Performance Can Work Together
The Social Enterprise award went to Varaha, a climate-tech company working on carbon removal and agricultural sustainability. Its business model connects environmental objectives with economic opportunities involving agricultural communities.
Social enterprises seek to address social or environmental challenges while maintaining a viable operating model. Their success therefore depends on more than the intention behind a product or service. They must demonstrate measurable outcomes, manage costs and build a market capable of supporting their activities.
Varaha’s recognition places climate-focused entrepreneurship alongside more familiar startup sectors such as fintech and consumer technology. It also reflects the growing range of problems Indian businesses are attempting to solve through commercial models.
For smaller cities and rural areas, this approach has practical relevance. Businesses that improve agricultural productivity, support local supply chains, expand access to financial services or address environmental problems may create value beyond their immediate customer base.
However, impact claims must be supported by credible evidence. A startup’s environmental or social objectives should be evaluated alongside its financial performance, transparency and actual outcomes.
What the Awards Mean for India’s Next Generation of Founders
The ET Startup Awards 2026 present a diverse picture of Indian entrepreneurship. Groww represents scale and financial performance, Habuild demonstrates capital-efficient expansion, Theranautilus highlights scientific innovation, and Palmonas and Progcap show how founders can address distinct consumer and financial needs.
Emergent, which won the Comeback Kid award, adds another dimension to the discussion. Founded by Mukund Jha and his twin brother Madhav in 2024, the AI-based platform enables users to build software by describing their requirements in natural language. Jha’s earlier experience with Dunzo also illustrates that entrepreneurial careers can include setbacks before a subsequent venture finds success.
For founders outside established startup hubs such as Bengaluru, Delhi-NCR and Mumbai, these examples underline the importance of solving a clearly defined problem and building a company around real demand.
Access to investors, experienced mentors, skilled employees and established business networks can influence how quickly a startup grows. But capital alone cannot guarantee a successful outcome. Founders must understand their markets, develop reliable products and make decisions that support the business over time.
The awards also offer a useful reminder for investors. A strong startup is not necessarily the one attracting the most attention. It may be the business quietly improving an essential service, serving an overlooked customer group or developing technology with long-term commercial potential.
Ultimately, the startups that stand out are those that combine a clear purpose with sound execution. As India’s entrepreneurial ecosystem matures, sustainable growth, responsible governance, innovation and measurable value are likely to remain central to how businesses are evaluated.
Key Takeaways
- Groww won Startup of the Year, with the jury recognising its scale, profitability and growth in a competitive financial services market.
- Habuild’s Bootstrap Champ recognition highlights a business model built without external capital.
- Theranautilus and Armatrix demonstrate the role of research and engineering in India’s deep-tech ecosystem.
- The awards recognise a broad definition of startup success, including customer value, financial discipline, governance and social impact.
Frequently Asked Questions
1. What are the ET Startup Awards 2026?
The Economic Times Startup Awards 2026 are the 12th edition of the annual awards recognising entrepreneurs, startups and investors contributing to India’s startup ecosystem.
2. Which startup won Startup of the Year in 2026?
Groww won the Startup of the Year award. The jury recognised its scale, profitability and growth in India’s competitive investment and stockbroking market.
3. Which startups received recognition for innovation and social impact?
Theranautilus won the Top Innovator award for its nanorobotics work, while Varaha received the Social Enterprise award for its climate-focused business model. Armatrix won Best on Campus for its industrial robotics technology.
4. What makes a startup successful beyond funding?
A startup’s long-term prospects depend on factors such as customer demand, product quality, revenue generation, cash-flow management, operational efficiency, governance and the ability to adapt to changing market conditions. External funding can support growth, but it does not replace a viable business model.
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