NASSCOM Unveiled the key findings of India Start-up Report 2014 at the 11th edition of its annual flagship Product Conclave in Bangalore. The conclave builds on the fast growing product and startup ecosystem in the country and provides a platform to engage with thought leaders in the product space, discuss issues of common interest and network with startups and partners to create a common framework for the future of the product startup ecosystem in India. The event will feature 225+ international and national speakers, showcase of 120+ product companies and curated 250+ meetings.
NASSCOM startup report 2014 finds that India is the fastest growing and 3rd largest startup ecosystem globally.
The growth of the software product industry in recent years has signaled a transformation – in India and across the globe. With increasing numbers of online active users becoming consumers of e-commerce solutions and the related marketplaces, Indian startups today are building global digital solutions to capitalize on this rapid growth. Hyper-growth, capital availability and acquisitions are the leading drivers of the growing startup ecosystem in India. Indian start-ups today are well positioned to address the entire Asian market opportunity and also expand beyond the US and European region.
“The Indian startup ecosystem is rapidly evolving driven by an extremely young, diverse and inclusive entrepreneurial landscape. This is leading to emergence of focused domain solutions for verticals like healthcare, agriculture, and education etc. An additional driving force is a four-fold increase in access to capital through VCs, angel investment and seed funding is allowing Indian entrepreneurs to work on building tailor-made products for their customers. Simultaneously, we need to also work addressing challenges on creating supportive government policies in terms of ease of doing business, tax incentives, participation in government contracts, availability of risk capital etc. NASSCOM will continue to actively engage with stakeholders across to address these challenges.” – Mr. R Chandrashekhar, President, NASSCOM
Key Highlights of NASSCOM Startup Report 2014
India currently has around 3100 startups in the technology product and digital space and its the 3rd largest startup ecosystem globally adding 800 startups annually. By 2020 there would be more than 11500 startups, employing over 2.5 lakh people. Indian startup ecosystem has seen around 300 VC/ PE and 225 angel investment deals worth over USD 2 billion over the last few years. There are over 20 M&A’s worth approximately USD 1 billion happened in the last 3 years.
The top six locations accounting for 90 per cent of start-up activity in India are Bangalore (28 per cent), Delhi-NCR (24 per cent), Mumbai (15 per cent), Hyderabad (8 per cent), Pune (6 per cent) and Chennai (6 per cent). However, Kolkata, Ahmedabad, Kochi, Jaipur and Thiruvananthapuram are the next emerging locations. Young entrepreneurs dominate the start-up landscape with the average age of founders at 32 years, with 52 per cent being post graduates. Interestingly, only 6 per cent of the start-ups have women founders.
The NASSCOM Product Conclave 2014 also awarded 10 startups who are selected as NASSCOM Emerge 10. The following startups emerged as Top 10.
- Data Resolve
- Vayavya Labs
- VDime Innovative Works
- Wegilant Net
source: NASSCOM Press Release
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