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India’s secondary cities spawn more start-ups: Nasscom

Author: IANS/Wednesday, December 6, 2017/Categories: IT & ITeS

India’s secondary cities spawn more start-ups: Nasscom

Bengaluru, Dec 5 - Incubators and accelerators in tier-2 and tier-3 (secondary) cities across India are spawning more technology start-ups than ever before, said the IT industry apex body Nasscom on December 5.

"Secondary cities are emerging as new hubs for start-ups across the country as they are driven by growing number of incubators and accelerators," said a joint survey report Nasscom prepared with the city-based management and strategic consulting firm Zinnov. 

Out of about 5,200 total technology start-ups present in India as of 2017, nearly 20% (1,040) start-ups are present in the secondary cities, the report found.

About 40% (76) of the total 190 active business incubators and accelerators are located in secondary cities such as Ahmedabad, Pune, Jaipur, Lucknow and Chandigarh, it said.

"Traditionally, many tier-2 and tier-3 cities of India have been educational hubs, which makes them ideal and plausible destinations for start-up incubators and accelerators," the report said.

Out of the 190 business incubators and accelerators in India, 90 are academic, while the rest are government-supported or private-run.

India has witnessed a "phenomenal" progress of technology start-ups in the last decade, the study noted.

"Indian start-up ecosystem continued to remain attractive for investors with almost $6.4 billion funding in the first half of 2017, nearly 167 per cent growth over the first half of last year."

Start-ups in the country have also been working on India-centric grass root level problems, the study added.

Over 325 start-ups in the country are currently working on solving the challenges in the fields of healthcare, education inclusion, financial inclusion, clean energy and agriculture.

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Kavita Giridhar Mallya

IANS

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