India is popularly known as a land of entrepreneurs and the rise of angel funds has already provided a support system to the booming industry. The ecosystem for entrepreneurs in India has improved drastically over the past one decade and it is expected that it will continue to be better in the coming years as well. Market estimates suggest that Indian startups have grown three fold to 450 companies as of 2012 from 162 companies in 2006, with Bengaluru leading the pack, accounting for 27 per cent of startups, followed by NCR and Mumbai at 24 per cent and 15 per cent respectively.
The launch of 10,000 start-ups programme by the National Association of Software and Service Companies (NASSCOM) in partnership with Indian Angel Network and supported by Google, Microsoft and Verisign is another step in the right direction. The programme aims to incubate, fund and support 10,000 technology start-ups in India over the next ten years and catalyse the technology start-up ecosystem by 5X.
The change dynamics for the Indian entrepreneur ecosystem was also explained by the interviews conducted by IBEF with some of the prominent Indian entrepreneurs under the Ordinary Indians, Extraordinary Enterprise video series. You may click here for the conversations.