In the global startup ecosystem, India ranks among the top five countries of the world in terms of number of startups. In 2016, the startup ecosystem growth in India has faced a sluggish growth. However, this year with the successful implementation of various processes like Make in India, GST, Startup India, etc. the scenario of the startup growth has been increasing. Entrepreneurship in India is more popular when compared to other developing countries of the world. The journey of entrepreneurship is characterized by persistence, patience, diligence, etc. The startup ecosystem growth has been improved drastically. Nowadays many young entrepreneurs of India are thinking of founding their own startups in the country.
Following are the few facts that are considered as the trends in the India’s startup ecosystem growth.
- Number of tech startups in India has been rise up to 60% from 2014 to 2016. The count rises from 3100 to 4750 despite of mixed economy in the country.
- It is predicted that India’s startup ecosystem will witness more than 10,000+ startups by 2020. Hence the growth of the startups is considered to be development of 2000+ new startups every year.
- 73% of the entrepreneurs in India are less than 36 years of age. 48% of them have a work experience in MNCs. 6% of them are women entrepreneurs while 36% of the entrepreneurs are solely engineers.
- Indian startup ecosystem is supported by number of organizations such as angels, funds and various support organizations like academic programs, incubators, event platforms and accelerators.
- Specific startup policies have been established in 13 states and union territories in India. The startup ecosystem is witnessing the yearly growth by 40% in the number of accelerators and incubators. When it comes to tech startups, India ranks third in the world after US and UK.
- Indian startups are using latest technologies of machine learning and artificial intelligence for business growth. Google has selected few Indian startups for its program of the accelerators that has reached the zenith of success.
- Indian startups attract the companies of Silicon Valley for investment. Venture capitalists from Silicon Valley have showed interest in investing on 12 Indian startups. The Indian startup ecosystem is whopping around US$74 million this year along with four startup acquisitions.