India is the 3rd Biggest Startup Hub in the World – NASSCOM

In the 4th edition of a new NASSCOM-Zinnov report titled “Indian Start-up Ecosystem 2018: Approaching Escape Velocity,” India has been ranked the 3rd biggest startup hub in the world!

Multiple factors made India a leader of growth in the tech startup sector. Here are some highlights from the report:

  • The number of advanced technology start-ups increased by 50% from 2017, with Data Analytics, Artificial Intelligence and IoT witnessing the fastest adoption.
  • The start-up ecosystem is becoming more global – Indian start-ups (both B2B and B2C) are expanding to other markets, and global giants are gravitating towards India.
  • More Tier 2/Tier 3 cities are emerging as start-up hubs, and more experienced professionals are taking entrepreneurial route.

Namma Bengaluru is the biggest startup hub

According to the report, Bangalore is now one of the fastest growing tech startup hubs. A total of 1,200 tech-startups were added to the list in 2018, alone! Today, the city boasts of 7,200- 7,700 registered startups.

Bangalore, Delhi-NCR, and Mumbai are the top three cities in India that have seen tremendous growth in Startups.

NASSCOM startups report

As per the report by NASSCOM, overall investments have seen 100% growth from $2 billion in 2017 to $4.2 million in 2018. This only goes to prove the projected growth of the startup ecosystem in the city.

While the startup culture allows for a fast-paced and on-the-go life, it has done much more than just come up with effective solutions. Startups have accounted for over 40,000 direct jobs in 2018. This brings it to a total of over 1,60,000-1,70,000 jobs in total. This indicates the direct impact on job creation and employment generation.

Some key drivers of growth in Startup growth and expansion were:

  • Growth in investor sentiment.
  • Local market success.
  • Optimism in the growth of revenue.
  • Valuation increase.
  • Aspirations of becoming a global company.

Great time to start up!

The report highlighted several pointers that show a favorable time to start your own business. More reasons for you to start your own business!

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