India is now world’s 3rd largest tech startup hub
An Indian research organisation ranks India and China together, right behind the UK and US, as having excellent startup hubs
The Associated Chambers of Commerce and Industry of India (Assocham) and research organization Thought Arbitrage have jointly conducted a study of startup ecosystems globally, with a special focus on tech startups.
The study has found that Bengaluru is the mecca of tech startups in India, as it has overtaken both Delhi-NCR and Mumbai in terms of new startups and their expansion.
Commanding an impressive 26 per cent share of the overall Indian tech startups industry, Bengaluru is the place to be when it comes to launching a tech startup. With a 23 per cent share, Delhi-NCR is at a close number 2 while Mumbai is placed at number 3 with a 17 per cent share.
In May, an IISC (Indian Institute of Science) report claimed that due to massive infrastructure logjam and mindless expansion of concrete all over the city, Bengaluru may be unlivable by 2021. Such facts seem not to bother the daring tech startups, which are continuing to prefer this city for opening up their new offices and branches.
The report mentions Chennai and Hyderabad as ‘quite popular among the techies who are budding entrepreneurs.’ As per the findings of the report, Hyderabad grabbed an 8 per cent share of tech startups, while Chennai and Pune were tied at a 6 per cent share.
To be very honest, we had expected Hyderabad to notch up better results compared to Bengaluru as most of the innovations and big launches are now happening in this city. No wonder, Apple decided to open their US$25 million offshore tech development center in this city; India’s biggest tech startup incubator: T-hub opened in Hyderabad and even Uber has opened their largest facility outside the U.S. in Hyderabad.
India is 3rd largest tech startup hub
If we leave aside the US and UK, then India is world’s largest tech startup hub, according to the findings of the Assocham report. With 4,200 tech startups in 2015, India is now placed number 3 globally after the US, which has 47,000 tech startups and the UK, which has 4,500.
Interestingly, there is no mention of China in the ranking of tech startups.
However, in the overall ranking of startups, which includes both tech and non-tech entities, India has been ranked equally with China, as the study found both of these developing countries to have exactly 10,000 startups (tech + non-tech).
The U.S. is still at number 1 with a massive 83,000 startups.
Also Read: 8 qualities all successful CTOs share
All this means that India is now ranked among the top 5 countries in the world in terms of its startup ecosystem.
The report mentions a number of factors, which can improve India’s ranking among other countries, and encourage more entrepreneurs to take the plunge and discover solutions that can create wealth for all.
Tax exemption is the one of the strongest recommendations the report makes, and “experimentation to encourage fresh ideas without fear of failure” has also been suggested. A unique Stanford University model has been recommended for the Indian startup ecosystem, wherein courses related to small- and medium-scale businesses have been advised for creating more awareness about the exciting world of entrepreneurship.
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The original article India is now world’s 3rd largest tech startup hub first appeared on Technode.
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