More reports on: Economy - general

India ranks 3rd globally with over 4,200 startups: Nasscom

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14 October 2015

India has moved up to third position in providing a conducive ecosystem for the start-ups, and has emerged the fastest-growing base for start-ups worldwide.

The country has amongst the first five largest startup communities in the world with the number of start-ups expected to cross 4,200, a growth of 40 per cent, by the end of 2015, according to a study by Nasscom.

The Indian technology start-ups landscape has seen a tremendous growth in the emergence of innovative start-ups and creative entrepreneurs, according to the report that Nasscom jointly launched with Zinnov.

India is the youngest start-up nation in the world, where 72 per cent of the founders are under 35 years old and over 50 per cent of the 1,200 startups focus on e-commerce, consumer services and aggregators.

About 9 per cent are female founders and co-founders in startup ecosystem, while the number of accelerators grew by 40 per cent to about 110 in 2015 from 80 in 2014.

The total funding in 2015 grew about 125 per cent over 2014, it said.

''The maturing Indian start-up ecosystem is now contributing to the Indian economy in many ways. Apart from positively impacting the lifestyles of citizens involved, start-ups are now creating innovative technology solutions that are addressing the key social problems that India is facing and creating significant growth opportunities for every stakeholders,'' says Nasscom president R Chandrashekhar.

''To enable the next stage of growth for these start-ups, Nasscom will work closely with the government to ensure ease of doing business, by simplifying procedures and create a conducive environment for these start-ups to grow,'' he added.

Over 80,000 jobs have been created by startups, while the total funding in India-based start-ups is estimated to be worth nearly $5 billion in 2015.

Nasscom also said various central and state government start-up initiatives are further supporting this progressive phase of start-ups in India.





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