With more than 3,000 tech start-ups, India is the fourth largest base for young businesses in the world and it is expected that by 2020 the base will increase to 11,500 tech start-ups. This along with other interesting findings were revealed in ‘Tech Start-up in India: A Bright Future’ a study report by National Association of Software and Services Companies [NASSCOM] and Zinnov.
The report suggests that the Indian start-ups with their unique solutions are witnessing increased traction in global whitespace opportunities such as Internet of Things, Augmented Reality, Smart hardware, Business Intelligence & many more.
With technology spreading its wings into different domains, “Domain+Tech’ solutions are taking over other trends”. The emerging niche technology solutions are primarily focused on Ad-tech, Edu-tech, Health-tech, Agri-tech & many more. Geographically, Bangalore & National Capital Region [NCR] tops the chart for being home to maximum number of young businesses.
The findings also highlight that many trends are maturing in the ecosystem, especially funding aspect. Multiple and easily accessible platform like VC/PE, angel investors, incubators, financial institutes and even banks, are the driving force for the same.
Commenting on the new evolution of the ecosystem, Mr. Rajat Tandon, Senior Director, NASSCOM 10,000 Startups, added [Note : We in the article refers to NASSCOM 10,000 Startups]
These latest findings clearly indicate the beginning of the golden era for young tech-based businesses where opportunities for growth are much larger than the challenges in the ecosystem. We are proud to be once again at the cutting edge in helping to support a growing niche within this field and we are excited to ink new partnerships as we close the year to accelerate our efforts in that direction.
NASSCOM’s 10,000 Start-ups program has successfully paved way for 3 inevitable trends that are shaping the Indian economy with the potential to shake things up: Digitalization, Faster innovation cycles &the rise of young, ambitious talent. Start-ups are both a consequence and an accelerating catalyst of these trends. It’s exciting to be here, but we have much to do. This ecosystem is growing in scale and strength and as we move forward, we are focused towards domain specific strategic partnerships to drive it to the next level of maturity in FY 2015.
- The Program is partnering with AstroLabs Dubai, to navigate Indian Tech Startups to the MENA region. This association will give a tangible edge to support tech entrepreneurs emerging from the 10,000 Start-ups program, both with the physical space and with formal training programs.
- The Program’s partnership with ValPro, an investment banking & financial advisory services to leverage a web based platform “Enablers” which facilitates start-ups & SME’s to connect with HNI’s, Angels and VC’s for fund raising. It is a tool that makes entrepreneurs investor-ready and handhold them through various stages of fund raising.
- The Program inked another association with CampusEAI Consortium, a leader in the world of higher education information technology services. CampusEAI EduTech Venture Fund invests in early stage enterprise software, Internet and Mobile companies that target the education market or companies created from intellectual property technology transfer from colleges and universities.
- To support early-stage companies in Healthcare and Life-sciences domain, we partnered with Escape Velocity Accelerator to review applications for selecting entrepreneurs into its incubation program.
Speaking about the partnership, Anjli Jain, CEO of CampusEAI and Managing Director of CampusEAI’s EduTech Venture Fund stated
Our partnership with NASSCOM’s 10,000 Start-ups program gives us an opportunity to expand our portfolio and existing investments in India-based start-ups and provide early-stage entrepreneurs with the mentorship, guidance and funds they require to be successful. We look forward to working with NASSCOM and accelerating the mission of the 10,000 Start-ups initiative.
Speaking about the partnership, Mr. Muhammed Mekki, Founding Partner, AstroLabs stated:
We look forward to welcoming members of 10,000 Startups at AstroLabs Dubai, enabling their expansion into the growing Middle Eastern market and providing direct access to a region that has the highest smartphone penetration in the world.
Interesting info-graphic giving an in-depth view about the “Startup Landscape in India”
[Note : Click on the image to Enlarge]
*10,000 Start-ups is a NASSCOM initiative supported by Google for Entrepreneurs, Microsoft Ventures, Verisign, & Intel