Indian start-ups to double by 2020: Nasscom
November 4, 2016
The start-up ecosystem in the country is expected to double in the next few years and could cross the 10,000 mark, a recent report by Nasscom said. The report which allayed concerns of a slowdown in the Indian start-up activity said the country continues to the third largest base for start ups globally.
The Nasscom- Zinnov report titled “Indian Startup Ecosystem Maturing – 2016” which was released recently said the ecosystem is poised to grow by an impressive 2.2 times to reach more than 10,500 startups by 2020, employing over 2,10,000 people. The report finds that Bengaluru, NCR, and Mumbai continue to lead as the major start-up hubs in the country.
According to the report, the number of tech start-ups in India is expected to grow by 10-12 per cent to over 4,750 by the end of 2016. The report further said that there is a 40 per cent increase in the number of active incubators and accelerators in 2016 with impetus from government and the corporate sector.
Over 30 new academic incubators have been established under the government’s ‘Start-up India Stand-up India’ initiative this year, and tier-II/III cities have established 66 per cent of the new incubators, the report said.
So far as investments are concerned, the report said that investors are increasingly looking at opportunities in start—ups in areas other than online retailing. Ventures in Fintech, Healthtech, Edutech, data analytics, B2B commerce and artificial intelligence, are seeing interest, according to the report.