India is world’s third biggest tech start-up hub: Study

NEW DELHI:  India is home to the third largest number of technology-driven start-ups in the world, with the US and the UK occupying the top two positions, according to a report.

The study, done by Assocham in association with Thought Arbitrage Research Institute, also revealed that Bengaluru is host to the largest share of technology start-ups 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 start-ups, 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 start-ups numbered around 4,200 up to 2015,” the report pointed out.

In terms of total number of start-ups, comprising both tech and non-tech areas, India again figured among the five largest hosts in the world, along with China (10,000 each).

The US occupies the top slot with 83,000 start-ups. IT hub Bengaluru is host to 26% of domestic tech start-ups, followed by Delhi NCR (23%) and Mumbai (17%).

In the ‘catching up’ category were Hyderabad (8%), Chennai and Pune (6% each). “The disruptive innovation in technology and process is creating newer Indian start-ups and foreign investors, including some of the well-known venture capital funds, are showing immense interest in these start-ups,” Assocham president Sunil Kanoria said.

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