India is the third largest startup!

a. UK

b. Australia

c. Russia

d. None of the above

 

India has emerged as the third largest startup base and such ventures are projected to grow 2.2 times to reach 10,500 by 2020 despite a perception that the ecosystem in the nation has slowed down in the past year.

• India is in the third position just behind the US and the UK and nearly 1,400 new startups are expected towards the close of 2016, up 8-10 percent from the previous year’s figure according to the Indian Startup Maturing-2016 report by NASSCOM-ZINNOV.
• The report also indicates that Bengaluru, NCR and Mumbai continue to lead as startup hubs in the country.
• As far as vertical growth is concerned, investors are looking at domains such as health-tech, fin-tech and edu-tech.
• With a total funding of USD 4 billion, around 650 startups were funded signifying a healthy growth of the ecosystem.
• The startup landscape is an epitome of innovation with solutions aimed at solving locally relevant issues.
• NASSCOM holds that the contribution by startups is growing at a rapid rate and the landscape has a massive potential in terms of business stability, revenue growth and rapidly advancing innovation.
• As per the report, the number of tech startups is expected to grow by 10 to 12 percent to over 4750 by the close of 2016.
• India will become home to 10,500 startups by 2020 employing over 2,10,000 people as per the report.
• Over 30 new academic incubators have been established under the government’s Startup India Standup India initiative this year.
• Tier 2/3 cities have been establishing 66 percent of the new incubators.
• India will get electricity generated by wind propelled plants installed in Gujarat and TN in about 5 years as part of the green energy development program of the nation.
• Commercial offshore wind projects are slated for India.
• A 100 MW pilot project will be installed in the ocean off Gujarat in three years.
• A Facilitating Offshore Wind in Industry/FOWIND program funded by the EU has done a series of reports on wind conditions for wind generated electricity and its integration into a grid along the coastlines of Gujarat and TN.
• FOWIND is supported by Euro 4 million grant from the Indo-European Cooperation on Renewable Energy program and Euro 500,000 contribution through the Gujarat Power Corp Ltd.
• The consortium Global Wind Energy Council comprises GPCL, DNV GL. CSTEP and WISE.
• The project is being implemented in close cooperation with the Ministry of New and Renewable energy and National Institute of Wind Energy.
• Over time, DNV GL has emerged as a presence in India, one has looked at over 50 GW of offshore wind projects.

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