India is the third largest number of technology driven startups in the world, with the US and the UK occupying the top two positions. The study, done by Assocham in association with Thought Arbitrage Research Institute, also revealed that Bengaluru is host to the largest share of technology startups in the country, followed by Delhi NCR and Mumbai, while Hyderabad and Chennai are also quite popular among budding tech entrepreneurs.

In the technology driven startups, India has moved up to third position with the US occupying the top position with more than 47,000 and the UK with over 4,500. India’s tech startups numbered around 4,200 up to 2015. In terms of total number of startups, comprising both tech and non-tech areas, India again figured among the five largest hosts in the world, along with China.

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. The study recommended that synergising ‘Startup India’ with ‘Make in India’ and ‘Digital India’ initiatives has the potential to expand the domestic ecosystem for new entrepreneurs.

About ASSOCHAM

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is one of the apex trade associations of India. The organisation represents the interests of trade and commerce in India, and acts as an interface between industry, government and other relevant stakeholders on policy issues and initiatives. The goal of this organisation is to promote both domestic and international trade, and reduce trade barriers while fostering conducive environment for the growth of trade and industry of India.