India has third-largest ecosystem for start-ups: Nasscom Official
- IBEF
- February 23, 2022
According to an official, India has the world's third-largest ecosystem for start-ups, and the number of such businesses is rapidly increasing. Mr. Sanjeev Malhotra, CEO of the Nasscom Centre of Excellence for internet of things (IoT) and artificial intelligence (AI), noted that most of the start-ups are on the application side, but that there has also been a lot of work done in the field of software-assisted services.
He said that "The number of start-ups is growing significantly in the country with 10% being added every year. There has been significant growth in the number of companies and funding organisations which are attributing to this cause." According to him, the country is producing more unicorns, and the "financing pattern is getting healthier."
He went on to say that Nasscom, the National Association of Software and Service Companies, has been providing the required ecosystem for developing start-ups.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
