As per “Tech Start-up in India: A Bright Future” a report by the National Association of Software and Services Companies (NASSCOM) and Zinnov, with more than 3,000 tech start-ups, India is the fourth-largest base for young businesses in the world and it is expected that by 2020 the base will increase to 11,500 tech start-ups. The report suggests that the Indian start-ups with their unique solutions are witnessing increased traction in global whitespace opportunities such as Internet of Things, augmented realty, smart hardware, BI and many more.
With technology spreading its wings into different domains, “Domain+Tech” solutions are taking over other trends. The emerging niche technology solutions are primarily focussed on Ad-tech, Edu-tech, Health-tech, Agri-tech and many more. Geographically, Bangalore and National Capital Region (NCR) tops the chart for being home to maximum number of young businesses.
The findings also highlight that many trends are maturing in the ecosystem, especially funding aspect. Multiple and easily accessible platform like VC/PE, angel investors, incubators, financial institutes and even banks, are the driving force for the same. In fact, during 2010-2014 timeframe close to USD 3 billion is expected to be invested in Indian start-ups.
The findings also highlight that many trends are maturing in the ecosystem, especially funding aspect. Multiple and easily accessible platform like VC/PE, angel investors, incubators, financial institutes and even banks, are the driving force for the same. In fact, during 2010-2014 timeframe close to USD 3 billion is expected to be invested in Indian start-ups.
Rajat Tandon, Senior Director, NASSCOM, said, “These latest findings clearly indicate the beginning of the golden era for young tech-based businesses, where opportunities for growth are much larger than the challenges in the ecosystem. We are proud to be once again at the cutting edge in helping to support a growing niche within this field, and we are excited to ink new partnerships as we close the year to accelerate our efforts in that direction.”
NASSCOM’s 10,000 start-ups programme has successfully paved the way for three inevitable trends that are shaping the Indian economy with the potential to shake things up: Digitalization, faster innovation cycles, and the rise of young, ambitious talent. Start-ups are both a consequence and an accelerating catalyst of these trends. It is exciting to be here, but we have much to do. This ecosystem is growing in scale and strength and as we move forward, we are focussed towards domain-specific strategic partnerships to drive it to the next level of maturity in FY 2015.
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