Rise My Venture team got some of data regarding NASSCOM report which declared India is the youngest startup nation in the world. NASSCOM states that over 80,000 jobs created in 2014-15. Association of Software and Services Companies (NASSCOM) has recently discharged a report, as indicated by which, India has been pronounced as the most youthful startup country in the entire world. The report specifies that a normal business person from India is under 35 years old, which is the most minimal middle age, internationally.
The report titled: ‘Startup India – Momentous Rise of the Indian Startup Ecosystem’ has been readied in relationship with consultancy firm Zinno.
On one hand IT industry is attempting to keep pace with the development rate, and is required to offer lesser occupations one year from now, new companies are expanding the procedure of employment creation in the nation. The report specifies that last year, Indian business visionaries made 80,000 employments, powered by 100% development in financing, and 100% development in PE and VC drove subsidizing in the country.
This by and by demonstrates that Indian startup biological community has effectively made a domain, which is offering push to development, business and general development of business visionaries.
This report was propelled yesterday at Bengaluru by R Chandrashekhar, President, NASSCOM, Ravi Gururaj, Chairman, NASSCOM Product Council and Rajat Tandon, Vice President, NASSCOM 10 K start-up system.
Some different highlights from the report:
- 72% of all Indian entrepreneurs are less than 35 years of age, hence making us the youngest startup nation, globally
- Right now, India is 5th largest startup ecosystem in the whole world, as the total number of startups have growth to 4200, which is an increase of 40% compared to last year
- Out of 1200 startups associated with NASSCOM, 50% of them are digitally focused on ecommerce, consumer services and aggregator based model.
- Total number of accelerators in the Indian startup scene has increased by 40% in 2015, compared to last year. There are now 114 active accelerators in the nation.
- Total funding received by Indian startups has increased by 125% in 2015
- By the time 2015 ends, Indian startups would have received $5 billion worth of VC funds, which includes initiatives from State and Central Government
- The report also mentions some much needed changes, to improve the overall startup ecosystem in the country. For instance, only 9% of founders and co-founders in the Indian startups are women (which is still 50% more than 2014!)
A few suggestions which were partaken in the report:
- Simplified rules and procedures for business registration
- Ease of FDI rules and investment protocols
- Ease of rules pertaining to licenses, permits, approvals for new startups
- Simplifying tax structure and tax filing for all startups
- Removal of angel investment tax
- Easier methods for raising capital for a new business
- Removing or reducing credit guarantee for loans required by young startups
- National recognition for successful startups, so that more entrepreneurs venture out
- Enabling easier exits for entrepreneurs and VCs
The report holds much centrality, as India’s biggest social occasion of item based business visionaries: NASSCOM Product Conclave 2015 is being held in Bangalore.
This article has been well researched by Rise My Venture team.