11,500 Startups To Come Up In India By 2020
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11,500 Startups To Come Up In India By 2020

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NEW DELHI: As many as 11,500 startups would come up in the country employing over 2,50,000 people by 2020, according to key findings of India Start-up Report 2014 of industry body Nasscom.

Unveiling the findings, Nasscom President R Chandrashekhar said 300 VC/PE (venture capital and private equity) and 225 angel investments deals amounting to over $2 billion had been made in India.

He said over 20 mergers and acquisitions worth $1 billion were done in last three years. As many as 3,100 startups are present in India which is the third largest base in the world, Chandrashekhar said.

Also, 800 plus startups are being set up anually, he told reporters at the  eleventh edition of Nasscom’s annual flagship Product Conclave. Earlier, Nasscom launched its three-day annual flagship Nasscom Product Conclave 2014.

The conclave builds on the fast growing product and startup ecosystem in the country and provides a platform to engage with thought leaders in the product space and discuss issues of common interest, Chandrashekhar said.

It will also discuss issues of network with startups and partners to create a common framework for the future of the product startup ecosystem in India, he said. The event will feature 225 plus international and national speakers and showcase of 120 plus product companies Chandrashekhar said.

The Nasscom top Emerge 10 companies will also be showcased on the sidelines of the conclave, Chandrashekhar said. "These success stories are a mixture of burgeoning product innovations and exciting new solutions."

The growth of the software product industry in recent years has signalled a transformation - in India and across the globe.

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Source: PTI

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