BENGALURU: India’s technology start up base will increase to 11,500 by 2020 from the current 3,000 today. It has the fourth largest startups for young businesses in the world currently.
A new study by Nasscom and IT advisory firm Zinnov titled ‘Tech Start-up in India: A Bright Future’ said that Indian startup companies were witnessing traction in opportunities such as Internet of Things, augmented realty and smart hardware among other spaces.
IT capital Bengaluru and the national capital New Delhi currently tops the chart for housing the highest number of young business.
“These latest findings indicate the beginning of the golden era for young tech-based businesses, where opportunities for growth are much larger than the challenges in the ecosystem. We are proud to be once again at the cutting edge in helping to support a growing niche within this field, and we are excited to ink new partnerships as we close the year to accelerate our efforts in that direction,” Rajat Tandon, Senior Director at the IT body’s 10,000 Startups initiative said.