Delhi Emerges As Largest Startup Ecosystem In India: Report
With 7000 startups and 10 unicorns in the region alone, Delhi has emerged to be the largest startup ecosystem in the country. The current cumulative private market value of the startups in Delhi stands at $50 billion, higher than that of Bangalore and Mumbai.
The report ‘Turbocharging Delhi-NCR Startup Ecosystem’ which was released by TiE Delhi-NCR revealed other findings also about the startup ecosystem.
It valued Bangalore’s cumulative private market at $32-37 billion while Mumbai’s market valuation of the startup stood at $12 billion. As per the report, Delhi has the most number of unicorn startups with Bangalore following the course.
Amitabh Kant, CEO of Niti Aayog expressed his surprise on the findings and said that the region has more oppurtunities to offer than what was known to the market. He said, “I always thought that Bangalore and Hyderabad were more vibrant. This report really shows that while there is a lot of entrepreneurship, the marketing of NCR in this aspect isn’t adequate. The art of marketing and branding needs to be positioned far better.”
While delivering his keynote address Kant said that the capital should have more T-Hub communities. “We should push the envelope for more T-Hubs in Delhi NCR which can serve as catalysts of change,” he added.
Even though the numbers are increasing, there were some areas of the startup ecosystem where suggestions were made. Increase in seed and early stage funding, angel investments, outcome driven programs and creation of more co working spaces that are affordable were found to be the key aspects that could enhance the eventual growth in the system.
The President of TiE Delhi-NCR, Rajan Anandan said, “With concerted focus on the most important areas, NCR has the potential to become the top global hub for startups, leading innovation, creating more startups and at least 30 unicorns in NCR by 2025.”