Bengaluru has the highest number of tech startups in the country, followed by the Delhi-National Capital Region and Mumbai, while India now ranks third worldwide, with 4,200 such startups that began in 2015. Bengaluru has 26% of the country's share of tech startups, whereas Delhi-NCR has 23% of them and Mumbai, 17%, according to a study conducted by the Associated Chambers of Commerce of India and the Thought Arbitrage Research Institute.
India, along with China, was ranked among the top five hubs for both tech and non-tech startups, while the United States stood first in both the overall list as well as in terms of tech startups alone. ASSOCHAM President Sunil Kanoria said, "The disruptive innovation in technology and process is creating newer Indian startups, and foreign investors, including some of the well-known venture capital funds, are showing immense interest in these startups."
Hyderabad (8%), Chennai (6%) and Pune (6%) all featured in the "catching up" category of the study. It emphasised the need for "a real support system" for startups, "in terms of technology, hand-holding, funding and rapid growth".
The paper said, "Synergising Start up India with Make in India and Digital India has the potential to expand the Indian ecosystem for new entrepreneurs", adding that offering exemption from paying taxes can encourage innovators to conduct research and experimentation "without fear of failure".
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