India is known for its IT service sector and it attracts lots of investment in this field. So after the success of IT sector India has emerged as the youngest startup nation in the world with over 72 % of the founders are below the age of 35. years.
With the presence of over more than 4200 startups, India has become the third largest startup base in the world. It has registered a growth rate of more than 40 percent over the last year. Leaving the countries like Israel India is placed at third rank after US and UK.
In a report published by NASSCOM in association with research firm Zinnov, it has been said that around 1200 startups originated in India over the last one year in India. More than 50 percent of them mainly focused on e-commerce, consumer services and aggregator business.
With more and more people are getting into the startup business to realise their dream. Along with male counterparts, female entrepreneurship has also made its mark.
“India is the youngest startup nations in the world with around 72 per cent of the founders less than 35 years old, and 50 per cent rise in share of female entrepreneurs in 2015 over 2014,” said Ravi Gururaj, Chairman, Nasscom, Product Council.
Bengaluru remains the hottest destination for entrepreneurs to launch their business and was ranked 15th globally. More than 65 percent of the startups are located in Bengaluru, Mumbai and NCR. Around 26 per cent of India’s start-ups are located in Bengaluru, and NCR and Mumbai had 23 and 17 percent respectively.
Investments made by business tycoons like Ratan Tata and Azim Premji in startups have made a huge mark and have helped in the growth of these startups. So far, Mr. Tata has made 10 investments in startups.
The report published by Nasscom also reveals many interesting numbers in terms of the activities happening in the Indian startup environment. As per the report, one of the major reasons for India’s growth in the new age business is the rapid increase in the availability of risk capital.
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