Bengaluru, NCR and Mumbai remain major start-up hubs in India

PANAJI: Bengaluru, the National Capital Region and Mumbai continue to remain as the major start-up hubs in India showing continued growth in the number of startups in 2016.
According to a NASSCOM-ZINNOV start-up report titled Indian Start-up Ecosystem Maturing – 2016 and released on Wednesday, India’s startup ecosystem is poised to grow by an impressive 2.2 times to reach more than 10,500 start-ups by the year 2020.
“Technology start-ups 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 start-up report is a testimony to the potential of the start-up landscape and the scope of growth and opportunity that India presents,” President, NASSCOM R. Chandrashekhar said.
Even as reports state that India’s startup ecosystem is slowing down, the country continues to harbor the third largest start-up base globally, marginally behind the United Kingdom, the report says in its findings.
The report was launched on the side-lines of NASSCOM Product Conclave 2016 in Bengaluru in the presence of Chairman, NASSCOM C.P. Gurnani, Chairman, NASSCOM Product Council Ravi Gururaj and the chief executive officer of Zinnov Pari Natarajan.
The report goes on to state that global investors are looking at domains like health-technology, financial-technology, and edu-tech. With a total funding of approximately around $4 billion, close to 650 start-ups were funded in 2016, signifying an aware and healthy growth of the ecosystem, the report said.