Over 1,300 startups added in 2019: Nasscom

Nasscom, 11 tech bodies form global council
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Nasscom, 11 tech bodies form global council

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With addition of more than 1,300 startups this year so far, India continues to reinforce its position as the third largest startup ecosystem in the world, according to IT industry body Nasscom.

New Delhi: With addition of more than 1,300 startups this year so far, India continues to reinforce its position as the third largest startup ecosystem in the world, according to IT industry body Nasscom.

The total number of tech startups in the country has grown to 8,900-9,300 with 1,300 startups being added this year so far.

India also witnessed the addition of seven Unicorns this year till August taking the total tally to 24 - the third highest number of Unicorns (companies with valuation of over USD 1 billion) in a single country in the world.

The startups have created an estimated 60,000 direct jobs and 1.3-1.8 lakh indirect jobs, Nasscom said in a report.

According to the report, investment in start-ups were steady with $4.4 billion flowing in between January-September this year across 450 start-ups - up 5 per cent year-on-year (y-o-y).

Funding saw a huge spike in early stages (series A, B as well) with $1.6 billion being recorded and growing at 70 per cent y-o-y.

The trend witnessed over the year was that start-ups are driving focus more towards the B2B space and almost half of the country's start-ups are offering enterprise focused services, it said.

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