New Delhi, January 5, 2015: A study conducted by Zinnov Consulting, on behalf of NASSCOM finds that with more than 3,000 tech start-ups, India is the fourth largest base for young businesses in the world.
It suggests that that by 2020 the base will increase to 11,500 tech start-ups. 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.
The study entitled in ‘Tech Start-up in India: A Bright Future’ says ‘Domain+Tech’ solutions are taking over other trends. The emerging niche technology solutions are primarily focused 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 Venture Capital, angel investors, incubators, financial institutes and even banks, are the driving force for the same. In fact, during 2010-2014 timeframe close to $ 3 billion is expected to be invested in Indian start-ups.
Says Rajat Tandon, Senior Director, NASSCOM 10,000 Startups:“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.”
10,000 Start-ups is a NASSCOM initiative supported by Google for Entrepreneurs, Microsoft Ventures, Verisign, Kotak and Intel.
You can download a full version of the Zinnov-NASSCOm study here