Bengaluru is host to the largest share of technology start-ups in the country.
A study done by Assocham in association with Thought Arbitrage Research Institute revealed that India is home to the third largest number of technology start-ups in the world with around 4,200 tech start-ups up to 2015.
US is occupying the top position with more than 47,000 and UK holds the second position.
“In terms of total number of start-ups, comprising tech and non-tech areas, India again figured among the five largest hosts in the world with china. The number of start-ups in both India and China was 10,000 each,†said Assocham.
The survey also says that Bengaluru is host to the largest share of technology start-ups in the country with 26 per cent of the total, followed by Delhi NCR with 23 per cent and Mumbai 17 per cent. The cities Hyderabad, Chennai and Pune are also quite popular among entrepreneurs and included in the ‘catching up’ category with eight and six percentage each respectively.
“The disruptive innovation in technology and process is creating newer Indian start-ups and foreign investors include some of the well-known venture capital funds are showing immense interest in these start-ups,†Assocham president Sunil Kanoria said.
The study recommended that synergising ‘Startup India’ with ‘Make in India’ and ‘Digital India’ initiatives has the potential to expand the domestic ecosystem for new entrepreneurs. It also suggested tax exemption for research and experimentation to encourage fresh ideas without fear of failure.
The Assocham-Thought Arbitrage paper recommends a Stanford University model in various Indian universities and says that courses on creation of small businesses should be encouraged in Indian universities.