India rises to 3rd position in global startup ecosystems

INVecoThe IT industry body Nasscom and Zinnov launched the second edition of the start-up report titled “Start-up India – Momentous Rise of the Indian Start-up ecosystem” in which it ranked India third among global startup ecosystems, with more than 4,200 new-age companies.

Speaking to the media Nasscom President R Chandrashekhar said it has been a good year, with three to four startups being born every day and nearly $5 billion of funding coming in in 2015. The conditions in India with the large number of people coming on to the Internet and the consumer base is driving all the growth.

Noting that India is just after the US and the UK, Chandrashekhar said Israel is the country India has just overtaken and if all goes well next year India will be in 2nd place.