Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>An overall growth of 150% was recorded in the payments/salaries to gig workers between October 2021 and September 2022. </li><li>The potential of gig workers can grow further if online retail grows across the country. </li><li>The report predicts that the penetration of online retail was just 5% in 2019 and is expected to grow to 11% by 2024.</li></ul>As more e-commerce platforms enter the 10-minute delivery space, demand for gig workers has not only ballooned – but their monthly earnings have increased too. A report by StrideOne, a tech-enabled NBFC, titled ‘The Startup Economy Report 2022’ says that 25% of gig workers surveyed reported an over 50% rise in their monthly income as compared to their previous mode of livelihood – in the last one year. An overall growth of 150% was recorded in the payments/salaries to gig workers between October 2021 and September 2022, the report said. Majority of the gig workers are engaged in retail trade and sales which includes fast commerce like food and beverage, grocery, medicines delivery etc. Around 56% of the gig workers surveyed previously had full-time employment. “Startups are limiting their hiring of permanent employees. Gig workers have begun to replace these permanent employees,” the report said. The number of companies who shifted to a semi-gig workforce model has increased by 15% since October 2021. The potential of gig workers can grow if online retail expands across the country. The report predicts that the penetration of online retail was 5% in 2019, and is expected to grow to 11% by 2024. Non-farm sectors of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> have the potential to add over 90 million gig jobs in the longer term, the report predicts. As of now, the <keyword id="3080230" type="General" weightage="20" keywordseo="gig-economy" source="Orion">gig economy</keyword> constitutes 1.5% of the total workforce in India and is expected to expand to 23.5 million by 2024 constituting 4% of the workforce. <cmsannotation type="cmsannotation" annotationid="Startup ecosystem of India" comment="subhead" text="Startup ecosystem of India"><keyword id="15794501" type="General" weightage="20" keywordseo="startup-ecosystem-of-India" source="Orion">Startup ecosystem of India</keyword></cmsannotation> The number of jobs created by the startup ecosystem of India, which is said to be the third largest in the world, grew by 78% CAGR between 2017 and 2022. It is further projected to grow at a CAGR of 24% from 2022-27. The ecosystem altogether created over 2 lakh jobs this year, according to the report. However, several startups like Byju’s, Udaan laid off several employees from its workforce as a part of their retrenchment due to funding winter. “The rapid growth phase and maturity of the ecosystem have unlocked tremendous appetite for scalability, alternate funding options, expansion into the global market and the capacity to enable millions of jobs. This meteoric rise of startups has made India the third largest startup ecosystem in the world and has significantly impacted the Indian economy showcasing the ability to contribute approximately 4-5% to the gross domestic product (GDP) of India,” said Ishpreet Singh Gandhi, founder, StrideOne. Sectors like textile, apparel and logistics however retain the title of being the biggest job creators in the country. The textile industry is said to be the second largest employer in India, which has given direct employment to 5 crore people, and 10 crore people in allied industries. Whereas, logistics sector currently employs 22 million people and is estimated to contribute 11% to the overall GDP of the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-railways-backed-spacetech-startup-galaxeye-raises-3-5-million-in-seed-round/articleshow/96250010.cms">Indian Railways backed spacetech startup GalaxEye raises $3.5 million in seed round</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/will-be-lucky-if-we-grow-5-next-year-says-former-rbi-governor-raghuram-rajan/articleshow/96249572.cms">Will be lucky if we grow 5% next year says former RBI governor Raghuram Rajan</a>

A quarter of Indian gig workers’ salaries grew by 50% in the last one year

New Delhi, March 31 (IANS) <keyword id="10387" type="General" weightage="100" keywordseo="microsoft" source="Orion">Microsoft</keyword> on Thursday launched its 'Startups Founders <keyword id="6590294" type="General" weightage="80" keywordseo="hub" source="Orion">Hub</keyword>' in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> to support founders at every stage of their journey with access to more than $300,000 in benefits. Startups in the country will also be able to gain mentorship and skilling opportunities with industry experts and 'Microsoft Learn' initiative. The company said that the Hub is available to all startups in India, including those without third-party validation or funding. "As a platform company, our cloud services and solutions are designed to empower founders to concentrate on what they do best - innovate at their own pace," said <keyword id="1668247" type="General" weightage="50" keywordseo="sangeeta-bavi" source="Orion">Sangeeta Bavi</keyword>, Director-Startup Ecosystem, <keyword id="28250" type="General" weightage="50" keywordseo="microsoft-india" source="Orion">Microsoft India</keyword>. Microsoft for Startups Founders Hub has been created following extensive research and conversations with hundreds of founders who explicitly shared their need for access to a digital ecosystem. "We look forward to how our new offering will support more founders in <keyword id="21718" type="General" weightage="50" keywordseo="asia" source="Orion">Asia</keyword> and provide access to the technology, tools, and resources they need to build and run their business," Bavi added. As the third largest ecosystem for startups in the world, India is home to nearly 100 unicorns with a total valuation of over $320 billion. To date, the country has close to 67,000 startups that are officially recognised by the Department for Promotion and Internal Trade. Microsoft is also partnering with companies like OpenAI, a global leader in AI research and deployment, that develops AI systems to provide startups with exclusive benefits and discounts. The Hub is designed specifically for early-stage startups to lower the barriers of business creation, said Microsoft. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/india-finds-its-third-gaming-unicorn-in-games24x7/slidelist/90557732.cms">India finds its third gaming unicorn in Games24x7</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/youtube-tv-brings-picture-in-picture-support-for-iphones-and-ipads/articleshow/90559830.cms">YouTube TV brings picture-in-picture support for iPhones and iPads</a>

Microsoft to support Indian entrepreneurs, launches 'Startups Founders Hub' in India

<ul><li>Bengaluru needs to turn into a deeptech hub too </li><li>Bengaluru is the only Indian city to be among the top 30 global startup ecosystems of today. It jumped two ranks up in the world’s top 30 startup</li><li>The city is known for its Edtech and Fintech startups but has been facing challenges due to weak environment policy in India.</li></ul> Bengaluru might be India’s <keyword id="6357722" type="LOCATION" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword> but it is in dire need of a strong framework to develop and commercialise “deep tech” like smart cities, robotics, autonomous systems, <a href="https://startupgenome.com/reports">said</a> the Global Startup Genome Report 2019. <a href="https://startupgenome.com/gser2019">Startup Genome</a> is an independent research firm that provides data and insights to startups. Bengaluru is the only Indian city to be ranked among the top 30 global startup ecosystems ranked by the report. It jumped two ranks this year in the world’s top 30 startup ecosystems list, according to the report. There are 30 global cities that it said have the potential to become the “next” hubs including Bengaluru. Bengaluru is home to a number of unicorns and is known for its edtech and fintech startups. However, it has been facing several structural bottlenecks. “A weak policy environment in India, as well as relatively low levels of research production, means that <keyword id="6355033" type="LOCATION" weightage="20" keywordseo="bangalore">Bangalore</keyword> might face more challenges in deep tech startup sub-sectors — those requiring tangible IP — than it did in Software, the report explained. It further said, “Potentially, this might become a significant hindrance in the ecosystem, threatening its future growth,” said the report. The city is also facing challenges due to “quality” of funding. The past growth “Bengaluru, Sydney, Stockholm, and Berlin stand out for their relatively low levels of Funding Quality, driven by lack of local, experienced VCs compared to other ecosystem”, said the report. Edtech and fintech hub India has witnessed exponential growth in co-working spaces over the last year which has fueled expansion in fintech and edutech hubs in India, with about 42% of startups based in Bengaluru. A recent India FinTech Report 2019 by global innovation platform MEDICI says that India is the second biggest Fintech Hub after the US with over 2,000 startups nourishing in the zone. Almost every top ecosystem has a strong national regulatory environment that encourages IP commercialization, according to the report.Here, too, Bangalore, along with Beijing and Shanghai was an exception. “Bangalore has all of the ingredients to create a world class tech ecosystem - investors, engineers, clients, experts - and the potential to build high-quality global startups at a fraction of the cost.” <a href="https://startupgenome.com/reports">said</a> Varun Chawla Founder, 91springboard in the report.

Here’s what Bengaluru needs to do in order to keep its crown as a global startup hub

<ul><li><keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> have raised more money through VC <keyword id="440371" type="PERSON" weightage="20" keywordseo="fundings">fundings</keyword> and financing, beating now listed companies that raised capital via IPOs this year. </li><li>While the startups raised nearly ₹449 billion in the <keyword id="6357097" type="DEFINITION" weightage="20" keywordseo="Venture-Capital">venture capital</keyword> (VC) funding rounds in 2018, nearly 25 companies listed on stock exchanges in India garnered ₹341.17 billion from investors. </li><li>Indian market regulator SEBI has been making amendments in regulations to provide <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword> as a substitute to VC funding for startups.</li></ul>2018 has turned out to be an eventful year for startup ecosystem. While several Indian startups are planning to tap the Initial Public Offerings (IPO) market as an alternative capital needs, they have already raised <a href="https://www.cnbctv18.com/market/data/indian-startups-raised-more-money-than-ipos-in-2018-1784121.htm">more money</a> through fundings and financing via the venture capital route, beating other Indian companies that raised money via IPOs this year, CNBC reported citing data from research firm, VCCEdge. Comparing the total amount <a href="https://officechai.com/startups/indian-startups-raised-money-indian-ipos-year/?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts">raised by the companies</a> under the two segments — startups getting funding under the Venture Capital (VC) and other companies listed under IPOs — stats show that while the startups raised nearly ₹449 billion in VC funding rounds in 2018, nearly 25 companies listed on stock exchanges elevated with ₹341.17 billion from investors. In 2017, the companies listed under IPOs raised over ₹772 billion. On the other hand, the startup VC investments were found to be comparatively low, raising ₹243.47 billion. The biggest company under IPO, Bandhan Bank, raised ₹44.7 billion from investors this year. In fact, startups are forging ahead with nearly twice the Venture Capital ( VC) funding this year, as compared to 2017. Separately, the <a href="https://inc42.com/buzz/sebi-to-release-startup-listing-guidelines-by-january-20/">Security and Exchange Board of India</a> (SEBI) has recently floated changes in the existing regulations for the startup ecosystem. With this, the regulatory body is looking to provide IPO as a substitute to VC funding. However, the market regulator will release detailed guidelines by January 2019. It is also planning to launch a startup platform, with inputs from Bombay Stock Exchange (BSE), for its listing process across sectors — including Information Technology, e-commerce and biotech among others. ‘<keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">Unicorn</keyword> club’ India, which is the third -largest for startup ecosystem in India, <a href="http://v">added 8 new unicorns</a> to the list this year, adding up to 18 in total. Private companies with a valuation over $1 billion are the ones making to a ‘unicorn club’. Under the venture capital funding, India’s recent unicorns raised ₹70 billion in its latest round of <a href="https://officechai.com/startups/indian-startups-raised-money-indian-ipos-year/?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts">fundings from international investors </a>such as Naspers and SoftBank among others. In fact, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">swiggy</keyword> entered the ‘unicorn club’ just this year, accompanied by the homegrown food major, <a href="https://www.businesstoday.in/current/corporate/newest-desi-unicorn-on-the-block-is-zomato-just-raised-usd-200-million/story/269566.html">Zomato</a>, which raised 13.99 billion from Alibaba Group’s subsidiary — Ant Financial Services. See also: <a href="https://www.businessinsider.in/indias-largest-online-learning-service-is-all-set-to-become-the-4th-highest-valued-indian-startup-with-a-254-billion-valuation/articleshow/66474294.cms">India’s largest online learning service is all set to become the 4th highest valued Indian startup with a ₹254 billion valuation</a> <a href="http://v">The Indian government may roll back a tax on angel investments that is said to be hurting the country’s startup ecosystem</a> <a href="https://www.businessinsider.in/indian-food-delivery-unicorn-zomato-to-expand-footprint-to-30-more-cities/articleshow/66915630.cms">Indian food delivery unicorn Zomato to expand footprint to 30 more cities</a>

For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles

In a recently released entrepreneurial study by <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword> to understand the rapidly evolving India <keyword id="1973995" type="UNKNOWN" weightage="20" keywordseo="Startup-ecosystem">startup ecosystem</keyword> and its effects on the wider economy, the results reveal that <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> can exploit a range of attributes and advantages unique to India. More than 76% of Indian executives pointed to India’s economic openness as a major business advantage, while 60% identified India’s skilled workforce and 57% of the executives said that India’s large domestic market provides significant advantages. The study further focuses on how more proactive engagement between startup and established organizations can help startups harden their business models, accelerate growth and leapfrog into the big leagues, while enabling established companies to share in the entrepreneurial spirit of <keyword id="94495" type="ENTERTAINMENT" weightage="20" keywordseo="Innovation">innovation</keyword> and agility. Their mutual success will drive India toward an ever-more dynamic future. “Startups are redefining the Indian economy by being the catalysts for technology innovation and collaboration. The Indian startup community; ranked third globally in terms of number of startups has been creating new job opportunities and attracting capital investment. We believe that startups need to focus on societal problems like healthcare, sanitation, education, transportation, alternate energy management and others, which would help deal with the issues that India and the world face. These require investments in deep technology and products which are built to scale globally”, said Nipun Mehrotra, Chief Digital Officer, IBM India/South Asia. He further added, “At IBM, we work closely with startups, VCs, incubators, academia, and individual developers to foster a culture of innovation and disruption and provide access to deep technology such as cognitive, blockchain, cloud and other emerging technologies, as well as the business mentoring needed for their growth.” Startup activity is driving India’s emerging business ecosystems India’s startup community is expanding rapidly with a strong entrepreneurial culture, especially among millennials. Strong government promotion of entrepreneurship has strengthened a rapidly evolving startup culture – a proposed reduction in corporate tax from 30% to 25% is expected to further boost startup activity. The study further stated that market valuation of Indian startups has grown significantly over the past four years, with three times increase in startup investment recorded in 2015. According to the study, approximately 35% of startups are being set up in tier two and tier three cities, thereby promoting accelerated development and industrialization of rural and other less developed areas. Top roadblocks for India’s startups Despite India’s entrepreneurial strength, the startup economy still has not reached full maturity and more than 90% of startups fail within the first five years. 1) Lack of innovation: 77% of venture capitalists surveyed believe that many Indian startups lack pioneering innovation based on new technologies or unique business models. Indian startups are prone to emulate already successful global ideas. 2) Lack of skilled workforce: 70% of the venture capitalists believe that talent acquisition is one of the biggest challenges faced by Indian startups, and limited availability of necessary skills impedes growth. As per a study, 80% of engineering graduates in India are deemed unemployable and 48% of employers in India face difficulty in filling vacancies. 3) Lack of sufficient funding: Indian startups face funding roadblocks both at entry and exit stages while successful global startup ecosystems are well supported by active investor communities. 65% of venture capitalists revealed that funding is one of the major challenges for these companies. 4) Other roadblocks include inadequate formal mentoring, poor business ethics and lack of experienced leadership. Stakeholder engagement key to derive significant benefits in startup ecosystems Ecosystems are crucial for India’s entrepreneurial economy to thrive. The IBV study also outlines the importance of stakeholders’ involvement, along with offering recommendations designed to increase the value of their contributions and accelerate outcomes. Established companies, startups, venture capitalists, government and higher education institutions have significant roles to play and rewards to reap in fostering further development of India’s startup economy. A robust startup community improves the vitality of the Indian economy and provides a gateway to systemic economic transformation. The formation of ecosystems in which established companies, startups, venture capitalists, government and centers of higher education are able to engage and interact can empower India to consolidate its place as a leader in the global economy. (The IBM study, “Entrepreneurial India” is based on interviews with more than 1,300 Indian executives, including 600 startup entrepreneurs, 100 venture capitalists, 100 government leaders, 500 leaders of established companies and 22 educational institution leaders to analyze the macro impact of startups on the economic growth of the country.)

Here's why 90% startups in India are failing in their first five years

“It is never just an incredible idea; it is the ingredients that make a startup successful.” 
 <keyword id="3159882" type="UNKNOWN" weightage="100" keywordseo="Paddy-Cosgrave">Paddy Cosgrave</keyword>, co-founder of Web Summit, world’s most important platform for<a href="http://www.businessinsider.in/5-easy-and-effective-tips-to-scale-up-your-startup/articleshow/49891713.cms"> start-ups</a> to kickstart their journey in full swing, believes team work, smart money and working in the right ecosystem are the sutras of a successful start-up. And if you couple it up with engineering, no one can beat you.
 When he started Web Summit from his couch in Dublin with Daire Hickey and <keyword id="112960" type="PERSON" weightage="100" keywordseo="David-Kelly">David Kelly</keyword>, they had no proper office, no working toilet; yet convinced the likes of Niklas Zennström, founder of <a href="http://www.businessinsider.in/Dozens-Of-Skype-Users-Troll-Witness-Testifying-At-George-Zimmerman-Trial/articleshow/21030732.cms">Skype</a> and <keyword id="265395" type="PERSON" weightage="100" keywordseo="Jack-Dorsey">Jack Dorsey</keyword>, co-Founder<a href="http://www.businessinsider.in/Meet-Twitter-Indias-new-Public-Policy-head-Mahima-Kaul/articleshow/47956812.cms"> Twitter</a> to speak at the first Dublin Web Summit.

	 
	This man is a firm believer of the potential of the <a href="http://www.businessinsider.in/Startups-know-Bangalore-is-where-their-heart-is/articleshow/49816015.cms">Indian start-ups ecosystem</a>. He said the Indian market is experiencing the second wave of the ecosystem and technology is driving it.
 “People are entrepreneurial when it comes to tackling the traffic,” jokes Paddy while explaining the potential of <keyword id="107737" type="ORGANIZATION" weightage="100" keywordseo="Entrepreneurship">entrepreneurship</keyword> in every Indian. 

	How far behind is the Indian start-ups ecosystem in the global competition? Or, is the real question is it ‘far behind’? Paddy describes the ecosystem step by step.
 

	1. From 2011-2014 the world has witnessed an explosion of Indian start-ups.
 

	“The ecosystem was hell back for years and everything else was moving ahead. It is almost like an elastic band that just exploded.”
 

	And the explosion is not gradual, unlike anywhere else in the world. There is the second wave right now in the Indian market with a diversity of start-ups. It is happening pretty fast. 
 Paddy explains that there was a time when Indian engineers formed a major part of <keyword id="6357722" type="COMPANY" weightage="100" keywordseo="silicon-valley">Silicon Valley</keyword>. Suddenly we don’t see the same number anymore. The talent that rushed to Silicon Valley 10 years ago is rushing back home. These people would not move away from Silicon Valley until they believed that there was a great opportunity here in India. 
 

	2. Where the whole world has moved on from the ecommerce wave and experiencing a surge of second generation start-ups, hardware and mobile communication start-ups, ecommerce is still huge in India. It is time for India to address the question: What comes next?
 

	“If you look at the funding over the last four years, ecommerce is huge and everything else is a little bit smaller in India. But if you look at the history elsewhere in the world, ecommerce was huge first and then everything else expanded.”
 

	<a href="http://www.businessinsider.in/EXCLUSIVE-Kshitij-Marwah-the-pioneer-of-hardware-manufacturing-spaces-in-India-has-more-to-offer-to-the-country-than-just-technology/articleshow/49908383.cms#commentHash">Kshitij Marwah</a>, founder of Tesseract, the company that built the world’s first 360 Virtual Reality Live stream Video Camera, believes hardware start-ups would form a major part of the second wave. It has huge potential and will boom soon.
 

	3. But the interesting thing is where in US, the ecosystem is mainly bound within the Silicon Valley, Indian start-ups ecosystem is dispersed in many different cities.
 

	4. India has kind of leap frogged to the second wave with the penetration of smartphones. The world moved slowly from dot com to applications. But India jumped the desktop and laptop level to directly make it huge in applications.
 

	“People have smartphones before they even know what a laptop is..So there is a whole generation of applications built in India that we probably haven’t seen anywhere in the world.”
 

	5. Where there are innumerable start-ups coming up in the same genre, how do we become unique? Paddy has made Web Summit unique via engineering. He believes one needs to ask one basic question- ‘Why?’ This is what makes their start-up different than the rest. From applying engineering to maintain the queue to applying it to make the most suitable length of name plate for every participant, engineering is the secret. Indian start-ups need to apply it more when it comes to form an incredible idea, making smart money to finding the right market.
 

	But all is not different. Startup ecosystems face one major hurdle in most parts of the world- the mindsets. When it comes to people leaving their 9-to-5 job to work in a start-ups, not many are willing to take that risk. Though the younger generation is catching up, the elder generation is yet to make up their minds.
 

	“My granny doesn’t really like the idea that I left my job and am working in a start-up. She doesn’t introduce me as a start-up founder to her friends yet,” laughs Paddy. 

	 
	 
	(Image credits: Indiatimes)

The second wave is here in the Indian market. Paddy Cosgrave, co-founder of Web Summit explains the difference between Indian and global start-ups ecosystem

Exiting a year where startups spread wings across various sectors ranging from e-commerce, hospitality to technology, the next year may see unexplored social impact sectors like healthcare and <keyword id="6355445" type="COMPANY" weightage="20" keywordseo="Education">education</keyword> become the preferred choice for budding entrepreneurs. Moreover, investors feel, much of the groundwork has been laid in 2015 for 2016 to become a watershed year for the emergence of a really strong <keyword id="138263" type="UNKNOWN" weightage="20" keywordseo="startup">startup</keyword> ecosystem in India. 
 
“We will have not only fresh entrepreneurs, but new innovation propositions in sectors like healthcare. Fintech startups is going to be very much part of the flavour. I also feel Agritech will start opening up which will bring valuable and high money into sectors that are extremely critical for India’s economy growth and development,” says Padmaja Ruparel, founder of Indian Angel Network. 
 Echoing her opinion, Saurabh Srivastava, co-founder at IAN and Nasscomm, says: “I see a lot of entrepreneurs creating solutions for what you would call the bottom half of the pyramid. In India, such ideas can also be economically very scalable because of the high poverty levels and the underlying opportunity there. Although we see <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">entrepreneurship</keyword> in many sectors, I think we will see lots happening in the social impact arena, medical devices that government has its focus on etc.” 
 Also, as the member of <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> panel on startups and Indian Aspiration Fund, Saurabh tells us the keen interest with which government bodies are working for creating a favorable ecosystem for Indian entrepreneurs. “A big focus area in SEBI committee is on how do we accelerate the flow of capital to startups, how more domestic capital should flow into startups. SEBI, Niti Aayog and several other wings are working on such areas and there is an amazing degree of openness and wish to support,” he says. 
 
Meanwhile, it seems the angel investor community is also expanding in India along with the rise of startup culture. Padmaja says: “Investment is like marriage for angel investors. They invest but what they look for is a divorce and hefty alimony. I think this cycle has started happening at Indian Angel Network (IAN), where people are getting cash exits and returns. I look at this as maturing of the angel ecosystem and I only see this growing in the coming year.” 
 
“Moreover, entrepreneurs today are also looking for fundings. The moment they get it, they will startup. It’s a symbiotic relationship between the two,” she adds.

It's no more Tech! Here's what will be the preferred choice for startups in 2016

As per a recent <keyword id="2325711" type="ORGANIZATION" weightage="20" keywordseo="Nasscomm">NASSCOMM</keyword> report, India continues to harbour the third largest startup base, marginally behind the UK. 
 Titled "Indian Startup Ecosystem Maturing - 2016", it states that the ecosystem is poised to grow by 2.2X to reach more than 10,500 <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> by 2020. 
 
The report released on the sidelines of Nasscom Product Conclave 2016 in Bengaluru on Wednesday predicted continued growth in the number of startups in 2016, with Bengaluru, NCR, and Mumbai continuing to lead as the major startup hub for the nation. 
 
In terms of vertical growth, investors are looking at domain like Healthtech, Fintech, and Edutech. With a total funding of approximately $4 billion, close to 650 startups were funded signifying an aware and healthy growth of the ecosystem. 
 
R Chandrashekhar, president, Nasscom, said, "Technology startups are creating a new identity for India and its technological prowess. They are defining the way the world operates making life better and easier for people and businesses alike. Our startup report is a testimony to the potential of the startup landscape and the scope of growth and opportunity that India presents. Nasscom has always been working towards creating a heterogeneous bond between all stakeholders and craft a conducive and innovative environment for start-ups to grow." 
 
According to the report, the number of tech startups in India is expected to grow by 10-12% to over 4,750 startups by the end of 2016. 
 
Interestingly, over 1,400 new startups emerged in 2016 denoting that that the ecosystem is becoming prudent with both investors and startup founders focusing on profitability and optimising the overall spend. With this impetus, India will become home to over 10,500 startups by 2020, employing over 210,000 people reveals the report. 
 
Furthermore, incubators and accelerators are playing a substantial role in strengthening the startup community throughout India. The report highlights the significant rise in number of accelerators to improve startups' outcomes and provide them with a support that they require. 
 
With impetus from the government and corporates, there is a 40% increase in the number of active incubators and accelerators in 2016 with over 140 active incubators, helping entrepreneurs experiment with new ideas by offering them functional expertise and resources. 
Over 30 new academic incubators have been established under the government's 'Startup India Standup India' initiative this year. With the country showing signs of increased interest in entrepreneurship, Tier-II/III cities have established 66% of the new incubators. 
 
The report reveals an increased interest from student entrepreneurs this year. Growth of 25% has been witnessed in 2016 with over 350 startups founded by young students. Median age of startup founders has reduced marginally from 32 years in 2015 to 31 years in 2016. 
 
Talking about investments, the report states that investors are increasingly looking at opportunities in startups in areas other than online retailing. The sentiments are high for ventures in verticals like Fintech, Healthtech, Edutech, data analytics, B2B commerce and artificial intelligence.

Welcome to India, The Third Largest Startup Base in the World

<keyword id="6390344" type="CITY" weightage="100" keywordseo="Cisco">Cisco</keyword> today launched its own startup launchpad program at its Bengaluru centre, an initiative to accelerate startups and support growth in India’s startup ecosystem. 
 
Cisco’s in-house teams would help mentor and co-work with startups to help build businesses. Startups will be offered office infrastructure, mentorship, investments, validated use-cases to work on and Cisco’s proprietary GTM (go to market) engines to co-develop solutions for partner organizations. 
 
Amit Phadnis, President of Engineering at Cisco said, “You can call this an accelerator plus plus. It’s a consortium to solve the problems of the next 3 billion Indians on their way to digitization.” 
 
The programme aims to connect over 50 billion devices to the current ecosystem through digitization. This would be done by matching ideas to business acumen and talent to investors and customers. 
 
When asked about investments open to contestants, Phadnis said, “We have committed to invest over $280 million via CDA (Cisco Digitization Acceleration) and other investment programs. The entire amount is potentially open to these startups.” 
 
The launchpad would have a selection programme, post which 5-8 startups would be shortlisted basis their business plans, team strength and other parameters. These would then have access to Cisco’s infrastructure, the company’s channel partner ecosystem and a select customer-base to test their technologies to validate and scale these ideas. 
 As a part of the launchpad, Cisco and <keyword id="43217" type="CITY" weightage="100" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> have coordinated to develop solutions for Indian electric utilities. The duo would partner with startup s to drive digitization in the power sector. 
 
The US networking major had announced series of strategic investments in India earlier this year, including $40 million to fund early-stage and growth-stage startups in the country. It has also launched a Global Delivery Center in Pune that would see its employee strength doubling over the next two years. 
 
With the upcoming Pune centre, India is the only country in the world where Cisco will have two global delivery centres, the first one being in Bangalore. 
 
Today, Bengaluru houses nearly 30% of the country’s technology startups, including the biggies like Flipkart, Ola, and InMobi. The city has the world’s second-fastest growing startup ecosystem, and is among the top 15 largest startup ecosystems globally.

Cisco launches its own startup launchpad

New Delhi, Mar 18 () The Department for Promotion of Industry and Internal Trade (DPIIT) will rope in a consulting agency to support it in effective and on ground implementation of initiatives for startups.The department has floated a notice inviting request for proposal (RFP) from interested agencies. The department "proposes to engage a consultancy organisation to provide support...for a period of three years, extendable one year at a time for a total duration of five years, to assist and support the department in effective and on ground implementation of Startup India Action Plan". The agency, it said, will also support the department in scaling up the Startup India initiative through manifold interventions considered important for building a strong ecosystem for budding entrepreneurs. The main objectives include handholding, supervising and monitoring implementation of recommendations for next three years; examining the need of current ecosystem; and provide short, medium and long-term suggestions for implementation by various agencies in consultation with various stake holders to scale up the initiative; and undertake the state startup ranking exercise every year by coordinating with states and other stake holders. Startup India is the flagship initiative of the government, launched in January 2016, that intends to build a strong ecosystem for the growth of startup businesses, to drive sustainable economic growth and generate employment opportunities. The Startup India action plan provides tax and other incentives.Since the launch of the initiative in 2016, a total of 28,979 startups have been recognized by DPIIT as on March 1. RR MRMR

DPIIT proposes to appoint consulting agency for Startup India initiatives

<keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">Startups</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> have high expectations from this year's upcoming <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>. Early-age startups hope for the removal of angel taxes, while <keyword id="20677283" type="General" weightage="20" keywordseo="health-tech-startups" source="keywords">health tech startups</keyword> expect increased <keyword id="19913964" type="General" weightage="20" keywordseo="funding" source="keywords">funding</keyword> for the sector. Startups function as engines of economic growth, playing a crucial role in generating new jobs, ideas, products, and services. As of December 2023, the Department for Promotion of Industry and Internal Trade (DPIIT) had recognised 1,17,254 startups. These startups have reportedly created over 12.42 lakh direct jobs, significantly impacting the economy. Eklavya Gupta, CEO and Co-founder of Recur Club, stated, "We are confident that India's business credit landscape is on the brink of a major digital overhaul. FinTechs are at the forefront of this change, deploying innovative technologies and utilising in-depth data analytics to streamline and expand <keyword id="20974354" type="General" weightage="20" keywordseo="credit-access" source="keywords">credit access</keyword>." He added, "While the current allocation of Rs 10,000 crore is an excellent initial step, realising the full capabilities of India's SME and startup ecosystem will necessitate greater investment, especially in credit guarantee schemes." Vinod K Singh, Co-Founder and CTO of Concirrus, expressed his expectations from the budget: "As the Union Budget 2024-25 approaches, we hope the government will address the pressing issue of the 'angel tax.' Eliminating this tax will enhance capital formation and attract vital <keyword id="19895633" type="General" weightage="20" keywordseo="investments" source="keywords">investments</keyword>. Streamlining the duty structure and reducing high tariffs on electronic inputs are also crucial to bolstering the startup ecosystem and driving innovation. Expanding the Fund of Funds and introducing low-interest loans would be beneficial." Rajiv Lamba, co-founder and CEO of AI-enabled customer feedback platform Surveysensum, added, "Just as the government has prioritised financial inclusion, it should now focus on <keyword id="22405441" type="General" weightage="20" keywordseo="technological-inclusion" source="keywords">technological inclusion</keyword> to propel India to the next stage of growth. By training youth in AI, the government can make a strategic investment in the nation's technological future. Given the rapidly evolving job market, a substantial increase of 20 to 25 percent in budget allocation should be considered for AI-based skill development and entrepreneurship." He further emphasised, "Incentivizing investment in <keyword id="20328842" type="General" weightage="20" keywordseo="AI-startups" source="keywords">AI startups</keyword> and R&amp;D initiatives can boost local innovation in the AI space. The last budget introduced a deep tech fund of Rs 1 lakh crore with a 50-year interest-free loan period; the government should now establish a clear and transparent mechanism for access to this fund." Raja S, founder and MD of Hearzap, highlighted the expectations of health tech startups: "Health tech startups are eagerly anticipating increased funding that could usher in transformative advancements. This crucial investment holds the promise of extending cutting-edge healthcare solutions to rural and underserved areas, effectively bridging existing gaps in care. The upcoming budget ensures that every individual in our diverse population, from the youngest to the oldest, can access essential health services, including specialised care." Discussing taxation for startups in India, Vvihan Gulati, Director of Mediagraphics PR, commented, "Removing the angel tax is a highly anticipated move that would benefit early-stage startups and their investors. It would foster a more favourable environment for innovation and growth, allowing startups to attract much-needed capital without the burden of excessive taxation. This change could significantly enhance the ease of doing business and contribute to the overall growth of the startup ecosystem in India." The Union Budget 2024 will be tabled on July 23 by Union Finance Minister Nirmala Sitharaman. With this, she will become the first Finance Minister to deliver seven consecutive budgets, surpassing Morarji Desai. She presented the interim budget on February 1 of this year.

You Searched For "startup ecosystem of India" and got 11 results

A quarter of Indian gig workers’ salaries grew by 50% in the last one year

Vaamanaa Sethi

Microsoft to support Indian entrepreneurs, launches 'Startups Founders Hub' in India

IANS

Here’s what Bengaluru needs to do in order to keep its crown as a global startup hub

Preeti Soni

For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles

BI India Bureau

Here's why 90% startups in India are failing in their first five years

Anushree Singh

The second wave is here in the Indian market. Paddy Cosgrave, co-founder of Web Summit explains the difference between Indian and global start-ups ecosystem

Usha Rani Das

It's no more Tech! Here's what will be the preferred choice for startups in 2016

Welcome to India, The Third Largest Startup Base in the World

Anushree Singh

Cisco launches its own startup launchpad

Saikat Pyne

DPIIT proposes to appoint consulting agency for Startup India initiatives

PTI

Startups demand angel tax elimination, incentives on investments in upcoming budget

ANI

Popular Keywords

Buying Guides