Tech startups grew by over 1000 this year, says Nasscom

Startups on the way to create the ‘Eureka Moment’

A day after India makes it to the top 100 in Ease of Doing Business by World Bank, the startup sphere gains momentum yet again. According to a recent report by Nasscom, India has seen an addition of over 1,000 tech startups this year. This strengthens the position of India to the third largest startup ecosystem across the world.

Let’s have a look at the main points of the report:

• This increase in number of startups this year has intensified competition for UK and Israel
• The total number of technology startups have risen to 5,200 approximately
• A rapid rise has been found on startups in areas such as healthtech, fintech, e-commerce and aggregators
• Bengaluru, Delhi and Mumbai remain the startup hubs in India, yet tier II and tier III cities have made 20 per cent contribution.
• “India is one of the fastest growing startup landscape in the world and every major accelerator, investor, angel group, is participating in becoming a part of this growth journey,” said Raman Roy, chairman, Nasscom.

India making it to Top 100 in Ease of Doing Business by World Bank and scored a sixer. Do you think 2018 will see an increase in numbers too?

Do let us know.

Excerpts from PTI.