India is home to the third largest number of technology driven Startup in the world, with the US and the UK occupying the top two positions, as per the findings of the ASSOCHAM Report.
As of end of 2015, the US had more than 47,000 tech startup. The UK had over 4,500 and India had around 4,200 tech startup. As per reports, Bengaluru has the largest number of technology start-ups in India, followed by Delhi NCR, Mumbai, Hyderabad and Chennai.
The city of Bengaluru is host to around 26% of domestic tech start-ups. And it is followed by Delhi NCR (23 per cent), Mumbai (17%), Hyderabad (8%) and Chennai (6%). Even in terms of total number of start-ups, India ranked 5th globally with around 10,000 start-ups. These startups comprising both tech and non-tech areas.
India World’s 3rd Biggest Tech Startup Hub
India is world’s third biggest tech Startup hub in terms of number of technology-driven start-ups, after the US and the UK, according to a report by The Associated Chambers of Commerce of India (Assocham).
With 4200 tech startups in 2015, India is now placed at third position globally after USA . USA has 47,000 tech startups and UK which has 4500 startups dealing in technology.
In terms of total number of startups, comprising both tech and non-tech areas, India again figured among the five largest hosts in the world, along with China (10,000 each).
The US occupies the top slot with 83,000 startups. The report also mentions a number of factors, which can improve India’s ranking among other countries, and encourage more entrepreneurs to take the plunge, and discover solutions which can create wealth for all.
Bengaluru – Destination For Tech Entrepreneurs
Bengaluru overtakes Delhi to become No. 1 destination for tech Entrepreneurs. The ASSOCHAM – Thought Arbitrage paper found that 26% of India’s tech startups were in the Karnataka capital. It is followed by Delhi-NCR (23%) and Mumbai (17%) while Hyderabad (8%), Chennai (6%) and Pune (6%) are also quite popular among budding tech entrepreneurs.
Assocham President Sunil Kanoria said, “The disruptive innovation in technology and process is creating newer Indian startups and foreign investors, including some of the well-known venture capital funds, are showing immense interest in these startups.”
The study recommended that co-ordinating ‘Startup India’ with ‘Digital India’ and ‘Make in India’ initiatives has the potential to expand the domestic ecosystem for new entrepreneurs. It also suggested tax exemption for research and experimentation to encourage fresh ideas without fear of failure.