India has 38 cities in the top 1000 and is one of the leading startup hubs in South Asia.
Since 2023, India lost 2 spots in the Global Startup Ecosystem Index, having now positioned itself as 21st worldwide.
India is a country of great potential considering its population size and cost effectiveness in business operations. The country has established itself as a world leader in technology services and enjoyed a boom in unicorns over the past few years. India’s growth trajectory in the startup scene is truly impressive and can be attributed mainly to its domestic market size and huge IT industry. The country’s startup ecosystems are a growth engine for its economy and have the capacity to improve India’s productivity and transform the country beyond recognition.
Apart from brain drain, India faces challenges with its digital infrastructure. Internet speed is low compared to most other countries, and power outages are frequent. The Indian government could take additional steps to improve this critical infrastructure and strengthen its startup ecosystem, as other countries in the region are growing fast.
India’s successful startups and unicorns are focusing on the massive potential of the local market. However, for India to achieve a status of a global tech hub, its startups will have to focus more on regional and global markets.
In recent years, the Indian startup scene has shifted the focus towards digital solutions and fintech, setting aside the previous ecommerce successes of unicorns like Flipkart and BigBasket. The US remains the biggest source of FDI for Indian startups, and investment is mainly flowing into fintech startups working on new banking models, like neobanking.
The ecosystem is backed up by multiple support organizations, including the Alliance of Digital India Foundation. In addition, Startup India, the Government’s flagship startup initiative, as well as Make in India, signal the public sector’s commitment to building regulatory frameworks for the ecosystem. But concerns have been raised about the impact of new policies on the ease of doing business in the country. An example of a strange policy that is sure to do damage to the local ecosystem and chase entrepreneurs away, the recently introduced angel investor tax potentially taxes companies when receiving investments. Considering that India enjoys good ties with most of the world, we are optimistic about its chance to continue to grow and assume a bigger role in the global startup ecosystem. When considering India’s core advantage of an educated, young, English-speaking population, the country’s potential is immense.
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The health check tables allow you to look at the performance India has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
India is ranked within the top 30 startup ecosystems globally.
India’s startup scene is best represented in Edtech, Transportation, and in Ecommerce & and Retail.
2023 National Rank & Change | City | Global Rank & Change | Total Score | Quantity Score | Quality Score | Business Score |
---|---|---|---|---|---|---|
1st 0 | 8th 0 | 64.232 | 00.00 | 00.00 | 00.00 | |
2nd 0 | 13th 0 | 44.560 | 00.00 | 00.00 | 00.00 | |
3rd 0 | 25th - 8 | 30.154 | 00.00 | 00.00 | 00.00 | |
4th 0 | 78th + 12 | 8.482 | 00.00 | 00.00 | 00.00 | |
5th 0 | 89th + 8 | 7.946 | 00.00 | 00.00 | 00.00 | |
6th 0 | 102nd 0 | 7.118 | 00.00 | 00.00 | 00.00 | |
7th 0 | 181st + 31 | 3.449 | 00.00 | 00.00 | 00.00 | |
8th 0 | 195th + 28 | 3.020 | 00.00 | 00.00 | 00.00 | |
9th 0 | 239th + 28 | 2.049 | 00.00 | 00.00 | 00.00 | |
10th + 2 | 371st - 7 | 0.930 | 00.00 | 00.00 | 00.00 |
The Global Startup Ecosystem Index (GSEI) reveals the startup ecosystem rankings of 1,000 cities and 100 countries based on various factors. It uses an algorithm that considers many parameters and incorporates data from different sources and partners such as Crunchbase, SEMRush and Statista. The results of this index are also integrated with the StartupBlink Global […]
At StartupBlink, we always say that where you base your startup highly affects your success. Hence, the Global Startup Ecosystem Index sheds light on location-based decisions for startups and other ecosystem stakeholders. In this episode of the Startup Ecosystem Podcast, Eli David and Martin Jordana go further to discuss the cities of the future for […]
A comprehensive startup ecosystem database can help you to allocate resources better, improve information flow, foster collaboration, and drive innovation. Additionally, it is a way to showcase resources and opportunities available in your ecosystem to entrepreneurs and startups interested in relocation or building a business overseas. This is an essential part of building a thriving […]