The word “Start-up” is not unfamiliar to anyone in India. Start-ups are set out in huge numbers with a major impact on the country’s growth and development. The spark of innovation and game-changing ideas in the mind’s of many Indians burst into flames with the call of “Start-up India, Stand up India” made by our honourable Prime Minister Mr. Narendra Modi on the 15th August, 2015. Interesting facts about Indian Start-ups are:
1. According, to the Economic Survey 2015-16 released by the Government in February 2016, India is home to more than 19000 start-ups enabled by technology and have captured a number of fields such as E-commerce, Edu-Tech, Health-tech, Aggregators, Consumer service, Enterprise software, Analytics and many more previously untapped segments of the economy.
2. E-Commerce has seen the most number of start-ups among all other areas.
3. India ranks third among global start-up ecosystems with more than 4,200 new-age companies, IT industry body. India is now looked upon as a emergent and a fast growing economy by the developed nations to touch and capture the immense untapped potential in the new upcoming markets due to start-ups.
4. Nasscom states three to four start-ups being born every day. This boom in the number of start-ups in India has led to various economical implications touching every aspect from education, healthcare, employment, agriculture etc to enhancing standard of living, building innovative solutions and generating scope for opportunities for stakeholders and investors.
5. India is the youngest start-up nation in the world and 72 per cent of the founders are less than 35 years old. This provides promising growth to the Indian economy in terms of market size, lifestyle employment opportunities and higher incomes.
6. Start-ups are growing at a rapid pace of 40% at the end of 2015.
7. The major markets tapped the start-ups are internet oriented.
The country is expected to see 500 million internet users by 2017 — including 314 million mobile internet users.
8. 85% of the startup activity in India tracked in top 5 Indian cities of Bangalore (32.9 per cent), Delhi-NCR (17.8 per cent), Mumbai (17.8 per cent), Gurgaon(11 per cent), Hyderabad (5.5 per cent), Others (15 per cent) including Pune, Chennai, Kolkata, Ahmedabad, Kochi, Jaipur and Thiruvananthapuram which turn out to be the next emerging startup locations.
9. Only 9% of the founders (and co-founders) are women.
10. Start-ups will generate over 2.5 lakh jobs in the next five years. The impact of startups proves its importance to the economy.
Space Whiz is an online portal of work spaces like commercial offices, co-working spaces, private cabins, conference rooms and training rooms. The company's mission is to accelerate the new sharing economy & make managed offices available to the growing community of Entrepreneurs, Professionals and Start-ups for the purpose of renting/leasing at an affordable price and multiple locations options.This author has published 15 articles so far.