87 Indian Tech Startups Pulled their Shutter Down in 2012
Bangalore: Carefully scrutinizing the facts and figures of the recent past one can quickly come into a conclusion that, the startup eco system in India is growing wide. It must be a little surprising to know the fact that around 379 tech startups were launched in India in 2012 out of which 87 shut down their operations in the same year. As blogged by Mukund Mohan.
Microsoft Accelerator India conducted the study in which Mukund Mohan; the CEO in Residence, Microsoft Accelerator said that it tracked over 6214 entities which included 3948 technology product companies and few service companies which were building great products and other side projects that fetched the founders great traction and revenue. The study was conducted by performing face to face interaction with the founders of 65 percent of these companies and also relying on secondary data but the closure of the data was completely based on face to face interviews. The study reports that:
The year 2010 and 2011 saw the highest number of tech startups with 452 and 519 respectively but 2012 saw just 379 startups.
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