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India seems ready for technology-business amalgamation. According to a study by Assocham, India has the third highest base of tech start-ups in the world, thanks largely to the supportive ecosystem in the country. India had around 4,200 tech start-ups in 2015, marginally behind UK, which stands at No 2 globally. The US is way ahead with 47,000 tech start-ups.
Not surprisingly, Bengaluru is host to the largest share (26%) of technology driven start-ups, followed by the Delhi NCR (23%) and Mumbai (17%). In the ‘catching up’ category fell Hyderabad (8%), Chennai and Pune (6% each), according to the study.
In terms of total number of start-ups, comprising tech and non-tech areas, India figured among the five largest bases in the world along with China. The number of start-ups in India and China were 10,000 each. In this category too, US was at the top, one position among the overall list of 83,000 budding entrepreneurs.
The awareness that a start-up is a vehicle of rapid growth through technological “disruption” and innovation, has to spread across the economy. “Only then, there can be a true start-up revolution; otherwise if any small traditional business is treated as a start-up then the start-up eco system will never develop properly” said the report.
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