Competing
with countries like the US and UK, India
has risen to be home to the third largest number of technology driven startups
in the world, according to a report.
The study,
done by Assocham, in association with Thought Arbitrage Research Institute,
also revealed that Bengaluru is host to the largest share of technology
startups in the country, followed by Delhi NCR and Mumbai, while Hyderabad and
Chennai are also quite popular among budding tech entrepreneurs.
“In the
technology driven startups, India has moved up to third position with the US
occupying the top position with more than 47,000 and the UK with over 4,500.
India’s tech startups numbered around 4,200 upto 2015,” the report pointed out.
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.
IT hub
Bengaluru is host to 26 percent of domestic tech startups, followed by Delhi
NCR (23 percent) and Mumbai (17 percent). In the ‘catching up’ category were
Hyderabad (8 percent), Chennai and Pune (6 percent each). 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
awareness that a startup is a vehicle of rapid growth through technological
disruption and innovation, has to spread across the economy, the report said.
Otherwise, if any small traditional business is treated as a startup, then the
ecosystem will never develop properly, it added.
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