The IT industry body Nasscom and Zinnov has recently launched the second edition of the start-up report titled “Start-up India – Momentous Rise of the Indian Start-up ecosystem”, ranking India as the third among global start-up ecosystems, with over 4,200 new-age companies. The latest report analyzes the current scenario and emerging trends across the various dimensions, defining the Indian start-up ecosystem, and also determining the India’s position as a global start-up base, which is increasingly becoming more attractive for the global market.
Speaking to the media Nasscom President R Chandrashekhar said it has been a good year, with 3-4 startups being born every day and nearly $5 billion of the related funding coming in 2015. “We are the fastest growing ecosystem in the world – so the first big wow number. Compared to last year, we have moved up from being the fourth largest ecosystem in the world to the third largest. If all goes well, next year by this time we should be the second largest,” said NASSCOM President, R Chandrasekhar.
India serves as the fastest growing startup-hub worldwide and stands third in technology driven product startups just after US and UK respectively. Recently, it has overtaken Israel to reach the 3rd position.
The conditions in India with the large number of people coming on to the Internet and the vast consumer base are the main factors driving the growth. The stats on the demography of the ecosystem also reveals that 72% of the entrepreneurs are less than 35 years old also making India home to the ‘youngest entrepreneurs’ in the world - with gender break-up of 91% male and 9% female. The stats also reveal that over 65% of the start-ups are located in the NCR, Mumbai and Bangalore regions in India.