India has emerged as the youngest startup nation in the world with over 72% of founders are less than 35 years old.
- The country has presence of more than 4,200 startups, making it the 3rd largest startup base worldwide.
- The sector grew at the rate of 40% over the last year, overtaking Israel.
- Around 1,200 tech startups were born in the year 2015, out of which more than 50% focus on e-commerce, consumer services and aggregators business.
- Bengaluru remains the hot destination for entrepreneurs to launch their business and was ranked 15 globally.
Reasons for growth of Startups in India :
- Investment by business tycoons like Ratan Tata and Azim Premji in startups.
- Rapid increase in the availability of risk capital.
- Large Indian enterprises have also formed dedicated corpus to invest in startups.
Impacts of Startups on India :
- It is contributing to the Indian economy in many ways.
- It is positively impacting the lifestyles of citizens.
- They are creating innovative technology solutions that are addressing the key social problems that India is facing.