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Despite a slowdown in the startup economy, India is still currently the third biggest base for entrepreneurs and is expected to be housing more than 10,500 startups by 2020, a recent study said.
The industry will then employ over 210,000 people. Currently, startups employ about 100,000 people in the country.
Industry body Nasscom’s Report 2016 also states that close to 650 startups were funded this year, with a total funding of approximately US$4 billion.
“The start-up landscape is undergoing great churn with fast-paced changes happening across the board. Owing to focused funding and a growing need of scaling up capabilities, Indian entrepreneurs will continue to attract global attention due to a perfect mix of talent, technology, traction and transactions,” Ravi Gururaj, chairman of the Nasscom product council, said.
Other findings were as follows:
- The number of tech startups in India is expected to grow by 10-12 percent to over 4,750 by the end of 2016.
- There are over 140 incubators in the country, and there has been a 40 percent increase in the number of active incubators and accelerators in 2016.
- There are more than 350 active angel investors, up 20 percent from 2015.
- Over 30 new academic incubators have been established under the government’s ‘Start-up India Stand-up India’ initiative this year. Small towns and cities have established 66 percent of those.
- Investor sentiments are high for verticals like fintech, healthtech, edutech, data analytics, B2B commerce, and artificial intelligence.
- Deals increased by 8 percent, and over 80 mergers are expected by the close of 2016.
- More students have turned entrepreneurs. The median age of startup founders has reduced marginally from 32 years in 2015 to 31 years in 2016.
This post India to have more than 10.5k startups by 2020, employ over 210k people appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/india-third-biggest-startup-base
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