Inspite of being awarded the 37th rank by an international organization on the prevailing startup ecosystem in India, there is nothing alarming, as feared by the media. It is just a wakeup call to the policy makers to make the environment conducive.
One basic issue was on the number of startups per population density. For which there is not much to worry about, as we are more employment nation and steadily shifting our focus to entrepreneurship.
However, the sector seems to be flourishing despite complicated tax compliance and startup policies unlike its other competitive nations. The environment though is startup friendly needs to be better for the growth of this sector, feel experts.
Angel tax has played a major dampener on the investor sentiments as well. Fighting all these odds our innovative minds are working best solutions to improve the overall scenario, which in itself is a blessing in disguise
The Indian startup ecosystem has been evolving since the last half a decade, inspite of internal and external turmoil.
Especially 2014 and 15 were considered as the golden period with the investors being liberal. On the other hand, 2017 saw a slight swing in the investor preposition with tight budgets and cautious investment.
STARTUPBLINK eventually released the latest, October ‘17 report that listed India at 37th position, with a total score of 8.6, while its competitor China was ranked 12 with a score of 11. However, USA topped the list with total score of 54. The top three Indian cities, with ideal startup ecosystem, were Bengaluru, Delhi and Mumbai.
STARTUPBLINK designed a specific global ranking index after considering many parameters. The survey spanned across 125 countries and 900 cities in total. Each city was measured for its startup ecosystem’s strength and activity.
An official statement by the company states, “This report ranks 954 cities and 125 countries around the world based on their startup ecosystem strength. Our rankings stem from thousands of data points gathered from various sources, such as incubators and accelerators that appear on the STARTUPBLINK global ecosystem map.”
WAY2WORLD hopes that the policy makers take up the necessary startup friendly initiatives to improve the overall performance of the group. With inputs from internet – Rajkishan