Bangalore, October 14, 2015: India has moved up to third position* and has emerged the fastest growing base of start-ups worldwide, world with the number of start-ups crossing 4,200 ( 1200 this year alone) , a growth of 40 per cent, by the end of 2015, finds a NASSCOM study.
The National Association of Software and Services Companies and tech consultants, Zinnov, have joined to publish the second edition of the report titled “Start-up India – Momentous Rise of the Indian Start-up Ecosystem”, on the side-lines of NASSCOM Product Conclave 2015 here yesterday.
With 100 per cent growth in number of private equity, venture capitalists, angel investors along with a 125 per cent growth in funding over last year, Indian start-up ecosystem has risen to the next level. The total funding in the India based start-ups is estimated to be nearly $5 billion by 2015, almost $ 100million every week.. Various central and state government start-up initiatives are further supporting this progressive phase of start-ups in India.
Says R. Chandrashekhar, President, NASSCOM:“The maturing Indian start-up ecosystem is now contributing to the Indian economy in many ways. Apart from positively impacting the lifestyles of citizens involved, start-ups are now creating innovative technology solutions that are addressing the key social problems that India is facing and creating significant growth opportunities for every stakeholders. To enable the next stage of growth for these start-ups, NASSCOM will work closely with the government to ensure ease of doing business, by simplifying procedures and create a conducive environment for these start-ups to grow.”
Adds Ravi Gururaj, Chairman, NASSCOM Product Council: “India is the youngest start-up nation in the world with 72% of the founders are less than 35 years old, and 50% rise in share of female entrepreneurs in 2015 over 2014. We are thankful to the Government for the policies and initiatives that are aimed towards improving the overall start-up ecosystem. NASSCOM has been partnering with the Governments for Start-up warehouses to create a micro-ecosystem where start-ups and entrepreneurs can work together, share their learnings and best practices with each other. This is fostering an entrepreneurial culture contributing to the increased knowledge, employment and societal wealth.”
* After US and UK; before Israel and China.