A report by NASSCOM-ZINNOV, titled as “Indian Startup Ecosystem Maturing – 2016” says that India will be home to 10,500 start-ups by 2020. India has emerged as the third largest start-up base just behind US and UK, and nearly 1,400 new start-ups are expected by end of 2016, up by 8-10 per cent from last year, says the report.
NASSCOM Chairman C P Gurnani says that the start-up landscape in the country is becoming the epitome of innovation, with companies bringing out solutions that are aimed at solving locally relevant issues.
The report reveals that Bengaluru, NCR, and Mumbai continue to lead as the major start-up hubs in the country.
According to the report, the number of tech start-ups in India is expected to grow by 10-12% to over 4,750 by the end of 2016.
The report also noticed an increased interest from student entrepreneurs this year. A growth of 25% has been witnessed in 2016 with over 350 start-ups being founded by young students.