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India retains 3rd position as World's largest startup base

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Bengaluru | Wednesday, Oct 26 2016 IST
A NASSCOM-ZINNOV report today said there wasno slowdown in the Indian startup ecosystem and the countrycontinues to harbour the third largest start-up base, marginallybehind the UK.

According to the report titled 'Indian Start-up EcosystemMaturing - 2016' the ecosystem was poised to grow by an impressive2.2X to reach more than 10,500 start-ups by the year 2020.

The report was launched on the side-lines of NASSCOM ProductConclave held here with Mr C P Gurnani, Chairman, NASSCOM, Mr R Chandrashekhar, President, NASSCOM, Mr Ravi Gururaj, Chairman,NASSCOM Product Council and Mr Pari Natarajan, CEO, Zinnov, present.

Key highlights of the report said 1400 new start-ups expected in2016, up by 8-10 per cent from last year, 80+ M&A deals expected in2016 and over 60 were successfully executed already. In all 95 percent of the deals were by Indian organisations. Over one lakh wereemployed in Indian startups and 2x growth of core technology (IoT,ML/AI, Robotics) start-ups was witnessed.

Some of the notable findings of the report include; continuedgrowth in the number of startups in 2016, with Bengaluru, NCR, andMumbai continue to lead as the major start-up hub for the nation. Interms of vertical growth, investors are looking at domain likehealth-tech, fin-tech, and edu-tech. With a total funding ofapproximately USD 4 billion, close to 650 start-ups were fundedsignifying an aware and healthy growth of the ecosystem.

Mr Chandrashekhar said Technology start-ups were creating a newidentity for India and its technological prowess.

''They are defining the way the world operates making life betterand easier for people and businesses alike. Our start-up report is atestimony to the potential of the start-up landscape and the scopeof growth and opportunity that India presents. NASSCOM has alwaysbeen working towards creating a heterogeneous bond between allstakeholders and craft a conducive and innovative environment forstart-ups to grow,'' he added.

Mr Gurnani said the start-up landscape in the country is becomingthe epitome of innovation, with companies bringing out solutionsthat are aimed at solving locally relevant issues. Today, India isbrimming with new ideas which need the right guidance and funding tobe scalable for the market.

Mr Ravi Gururaj said start-up landscape is undergoing great churnwith fast-paced changes happening across the board. Owing to focusedfunding and a growing need of scaling up capabilities, Indianentrepreneurs will continue to attract global attention due to aperfect mix of talent, technology, traction and transactions.

With Indian start-ups now churning out critical services andsolutions for large multinationals, riding on the digital revolutionwhich is encompassing the world; the situation for Indian start-upsis only going to get better, he said.

Incubators and accelerators were playing a substantial role instrengthening the startup community throughout India.

Talking about investments, the report states that investors areincreasingly looking at opportunities in start-ups in areas otherthan online retailing. The sentiments are high for ventures inverticals like Fintech, Healthtech, Edutech, data analytics, B2Bcommerce and artificial intelligence.UNI RS MSP CS

-- (UNI) -- C-1-DL0285-995300.Xml

 
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