On November 7, 2019 the National Association of Software and Services Companies (Nasscom) released a report on Indian startup ecosystem and job generation at the sidelines of the 16th anniversary edition of NASSCOM Product Conclave 2019. It was prepared with the support of consulting company named ‘Zinnov’. The report titled “Indian Tech Start-Up Ecosystem: Leading Tech In The 20s” in detail are as follows
Report on Indian startups and unicorn status:
i.Job creation: By 2025, Indian startup ecosystem could create upto 12.5 lakh direct jobs. The job generation ranges from 3.9-4.3 lakh in 2019.
ii.Indirect job creation: The number of Indirect job generation would also increase to 39-44 lakh by 2025 from the current(2019) 14-16 lakh jobs.
iii.Startup-position:
- Indian start-up ecosystem is positioned as the 3rd largest in the world after China and the United States(US) which are in the first and second place respectively.
- Bangalore(Karnataka), New Delhi and Mumbai(Maharashtra) are home to 55-58% of startups.
- Delhi has the highest number (6) of startups with Unicorn status(privately held company valued at over $1 billion).
iv.Growth in startups and Unicorns: The report also suggests that the Indian start-up ecosystem would grow about 4 times by 2025. The Indian unicorn companies would also increase to 95-105 range by 2025.
v.18% of all start-ups are leveraging in deep-tech and fintech, enterprise, and retail tech sectors. These areas are the most mature sectors in the startup exam ecosystem. India has grown 40% compound annual growth rate since 2014.
About Nasscom:
Founded- 1 March 1988.
Headquarters- New Delhi.
President- Debjani Gosh.
