As startups go public, ETSA jury asks: When does a startup cease to be one?

As many Indian startups go public at early stages, the definition of startups is evolving. The Economic Times Startup Awards 2026 jury debated whether a company that has gone public should still be considered a startup. The panel whittled down the field of contenders to three: wealthtech platform Groww, ecommerce marketplace Meesho and space launch vehicle maker Skyroot. Groww ultimately claimed victory, with its scale, profitability and rapid growth giving it the edge and earning it the title of ET Startup of the Year.

Juror Ajit Mohan, a key member of the jury, highlighted the challenge of determining when a startup ceases to be one. He noted that companies can be at an early stage with innovative technology or have been around for a while, becoming profitable and scaling up. Mohan believed that the jury struck a balance between acknowledging both aspects of the ecosystem.

The discussion also centered on whether companies that have reached significant scale or gone public should still be classified as startups. Some jurors questioned whether an IPO marks the point at which a company transitions out of the startup phase. Others argued that going public has become a common route for startups to raise capital, especially as private funding has become more difficult to access.

Juror Paras Chopra, founder of Wingify and AI lab Lossfunk, found the debate on startup definitions enlightening, appreciating the diverse opinions and the impressive list of contenders.