startups

Startup Street: Ban Won’t Stop TikTok Parent’s Spending Spree In India – BloombergQuint


India’s Startup Ecosystem Ranking Jumps 20 Spots

India’s startup economy jumped 20 places, ranking 17th worldwide in 2018, compared to 37th the previous year, according to StartupBlink — a platform that tracks startup ecosystems.

The platform uses an algorithm which tracks several factors such as startup funding, new startups, rules and regulations, accelerators and co-working spaces, among others. It also receives data from Crunchbase SimilarWeb—its global partners. It ranked 100 countries and 1,000 cities in this report.

While there was no change in ranking of the first four countries —the U.S., the U.K., Canada and Israel—India was one of this report’s “happiest surprises”.

“The country is now ranked 17th, a staggering 20-spot increase, as the World Bank dramatically upgrades its ‘Doing Business’ score, supported by a growing entrepreneurial spirit throughout the country,” the report said.

India’s ease of doing business ranking with the World Bank has improved for two straight years now as the government focuses on promoting self-employment, innovation and simplifying the process of setting up new businesses. India now ranks 77th in the list, jumping 23 places last year. Other programmes such as Startup India, Standup India, along with growing global interest in Indian startups, has led to a spur of growth in Indian startups.

City-wise, Bengaluru ranked 11th, New Delhi ranked 18th and Mumbai stood at 29. Chennai jumped 143 spots to 74th, Hyderabad jumped 115 spots to 75th and Pune rose 136 spots to 82nd.

In comparison, China dropped out of the top 20 rankings, falling to the 27th position. The report, however, said its algorithm might not have accurately captured China’s real startup activity.

About the challenges facing India’s ecosytem and the room for improvement, it said India needs to improve the “overall quality of startups, and increase the number of unicorns”.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.