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

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!

Why wait then?

Whether you are a newbie or an established entrepreneur, Instamojo has something that fits every bill.

If you are looking for a place to host and sell your products, use our Instamojo online store to sell, collect payments, ship and more for FREE! Our custom-built tools can also help you manage, track and scale your business.

Join over 500,000 sellers today.


START WITH INSTAMOJO

7 Shares:
1 comment
  1. Thanks for illuminating the Startup environment in India and it looks very much set to increase and expand in future. We at pliXos (a German headquartered company offering Global SW delivery and related SaaS tools) have been working with many talents specifically SW service providers from India for our Global customer base. pliXos allows a transparency in IT Outsourcing projects in terms of selection of most fitting provider for a software/application project and offers tools to automate it all integrated in its free B2B Marketplace . We tend to collect the best talents from India and other countries, the core expertise being from Europe, in terms of SW development, application development, Digital Transformation, IoT and other skills that are high in demand in the Global markets. We would be highly interested to help the Entrepreneurs, Businessmen and MNCs from India to find the right partner for their digital endeavors and software development solutions. You have an idea we will work with you to make it successful write us at info@plixos.com .

Leave a Reply

Your email address will not be published. Required fields are marked *