A few years ago, it was quite difficult to imagine India as a start-up hub. But today, this has become a reality. The start-up ecosystem in India has come a long way in the recent years. This is helping India realize its dream of becoming a business-driven nation. It is helping to generate millions of employment opportunities and helping the youth realize their dreams. Vertoz’s Founder and CEO, Ashish Shah, recently shared his views on the prolific start-up ecosystem in India and why he is very optimistic about it.
Ashish is quite positive that India has an abundance of the one basic thing which is essential for a successful start-up i.e. the power of youth. In India, 65% of the population in India is below the age of 35. This means that given the right resources and direction, India can channelize this asset by leveraging the innovative ideas and energies of its young population.
The internet plays a pivotal role in this by providing a level playing field to all the start-ups. This helps the ones still in their nascent stage to compete with their more illustrious counterparts. Ashish also gives some credit to the government schemes like Startup India and Make in India, along with key reforms like the introduction of GST.
As per a recent NASSCOM report, India touts the position of being the third largest host for start-ups globally. India’s start-up ecosystem saw an investment of over $5mn in 2015. India currently has around 4,200 start-ups, which are estimated to grow to 11,500 by 2020 with the job creation going
from the current 85,000 to a whopping 2.5L-3L by 2020.
Ashish says that this has been facilitated by the amazing networking opportunities available for the Indian start-ups today. Facilities like co-working spaces and incubators provide the much-required monetary and infrastructure support. Accelerator programs from MNCs like Google, huge funding from Chinese investors and the government’s support have together brought in good times for the Indian startups.
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