NASSCOM Report: India-third largest startups hub in the world
The Nasscom report on Indian Tech Start-Up Ecosystem said that India continues to the third largest start-up ecosystem after China and US. India has added more than 1300 tech start-ups in 2019 according to the report. Between January to September in 2019, there were 8900 to 9300 startups as compared to 7700-8200 a year ago.
- The investment in startups in the period January-September, 2019 touched 4.4 billion USD.
- The indirect jobs that created by the startup ecosystem can jump to 39 to 44 lakh by 2025 from 14 to 16 lakh in 2019
- The Indian startups have the potential to grow about 4 to 5 times by 2025
- Around 18% of the startups are leveraging deep-tech, fin tech, retail tech that are the most mature sectors with strong metrics
- In 2019, the startups created 60,000 direct jobs as compared to 40,000 in 2018
- Seven new unicorns were added in 2019. This takes the total number of unicorns in the country to 24 which is the third highest number of unicorns in a single country in the world. Unicorn refers to tech startup that reaches 1 billion USD market value. 71% of these unicorns are B2B focused.
NASSCOM is National Association of Software and Services Companies. It is a non-profit trade association of Indian IT and BPO industries.
Category: Reports & Indexes Current Affairs
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