‘Indian Tech Startup Ecosystem – Leading Tech in the 20s’

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News:According to the report ‘Indian Tech Startup Ecosystem – Leading Tech in the 20s’ by Nasscom,India continues to be the third largest startup ecosystem across the world.

Facts:

Key takeaways from the report:

  • India continues to be the third largest startup ecosystem in the world, having added more than 1,300 tech startups in 2019.
  • India now hosts 24 unicorns which is the third-highest number of unicorns in a single country in the world.Unicorn is a term to describe to startups valued at $1 billion.
  • The report has also predicted that the number of Indian unicorns could increase to 95-105 by 2025.
  • The volume of investments in startups has also grown touching $4.4 billion by January-September,2019 across 450 startups up 5% from the year-ago period.
  • Startups have also created 60,000 direct jobs in 2019 alone compared with 40,000 jobs in 2018.

Additional information:

About NASSCOM:

  • The National Association of Software and Services Companies (NASSCOM) was established in 1988.
  • It is a non-profit organisation of Indian Information Technology (IT) and Business Process Outsourcing (BPO) industry.