Indian Startup ecosystem is ranked third in the world: Nasscom

On Tuesday, IT industry body Nasscom said that with the number of Startups crossing 4200 by the end of 2015, India is placed third among global Startup ecosystems.

According to the second report of “Startup India- Momentous rise of the Indian Startup ecosystem” presented by Nasscom along with Zinnov, India was placed fourth globally  last year but this year India has moved one position ahead. Nasscom President R Chandrashekhar said that the the sudden surge in the number of Startups can also be attributed to the latest policy initiatives taken by the government.

According to the report, the Startups have created more than 80,000 jobs and the investment has grown 100 percent over 2014. Also, about 9 percent of the founders or co-founders are women. Most of the Startups deal in eCommerce and related services. As compared to last year, the funding in Startups has also seen a phenomenal growth of 125 percent.

The report highlights the dynamics of the Indian Startup ecosystem and also points out the importance of small to mid sized Startups. When it comes to providing quality jobs or retaining the quality workforce, the Startups have done well in both these aspects. It also forecasts that the domination of eCommerce Startups is likely to continue.

R Chandrashekhar also said that Nasscom is committed to work closely with the government to ensure the growth of Startups and to ensure ease of doing business. He said that the role of Nasscom is that of a facilitator and will do everything to ensure the growth of Startups. The Startups are playing a big role in the Indian economy by creating more quality jobs and it is government’s duty to ensure their hassle free operation.

 

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