The
country has seen an addition of over 1,000 startups IN 2017,
strengthening its position as the third largest startup ecosystem
across the world, amidst intensifying competition from countries like
UK and Israel. This takes the total number of technology startups to
nearly 5,200, according to the Nasscom Startup Report. It further
said that the country is witnessing a rapid rise in the business to
business startups focused on verticals like healthtech, fintech,
ecommerce and aggregators. While Bengaluru, Delhi and Mumbai retained
their position as the key start-up hubs in India, 20 per cent of the
start-ups emerged from tier II and III cities, the report noted.
"India is one of the fastest growing start-up landscape in the
world and every major accelerator, investor, angel group, is
participating in becoming a part of this growth journey. "Today,
Indian ecosystem is flooded with innovative ideas and needs the right
channel and guidance in terms of acceleration, scaling up and
funding," Raman Roy, Chairman, NASSCOM, and CEO and MD, Quatrro
Global Services said in a statement here. With 40 per cent of
startups in the B2B segment, B2B’s share in the overall tech
start-up funding is over 30 per cent the report noted. Fin-tech
start-up base is estimated to be 360 in 2017 indicating at 31 per
cent year on year growth with over USD 200 mn funding received in the
first half of 2017, recording a growth of 135 per cent since the
comparable period in 2016, it said. The healthcare technology
vertical saw a 28 per cent annual growth, with an estimated base of
320 startups. The vertical also garnered a total funding of USD 160
mn in the first half 2017, up by 129 per cent since 2016. With over
60 per cent start-ups, the business to consumer technology start-up
segment focused on creating innovative business models and taking the
vertical approach, securing close to 70 per cent of the overall tech
start-up funding in the first half of 2017, the report said.
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