Delhi-NCR is home to over 7,000 startups, including 10 unicorns with a cumulative private market valuation of worth $50 billion, as per a report by TiE Delhi NCR and global management consulting firm Zinnov.
While there were 7,039 startups in Delhi-NCR, Bengaluru had 5,234, Mumbai 3,829 and Hyderabad 1,940.
Titled ‘Turbocharging Delhi-NCR Start-up Ecosystem’, the report also highlights key challenges to the growth of the startup ecosystem in
According to the report, accelerating growth of the ecosystem will require addressing several core areas including the need for a lot more seed and early stage funding, creating more affordable co-working spaces, increasing the number and quality of accelerators and incubators, developing deeper pools of technical talent and developing sector specific policies.
“NCR’s startup ecosystem has incredible momentum. Despite the progress so far, we believe we are still in day one. With concerted focus on the most important areas, NCR has the potential to become a top 5 global hub for startups, lead innovation across many sectors, create many more startups and have at least 30 unicorns in NCR by 2025,” said Rajan Anandan, President of TiE Delhi-NCR.
The report has recommended a focus on 10 sectors where Delhi-NCR can build true leadership, developing programs and policies in each of these sectors, strengthening core infrastructure as measures to boost entrepreneurship in the region further.
“Delhi-NCR has the potential to lead innovation in many sectors across the Indian economy. We have identified 10 sectors including consumer internet, consumer products, travel and hospitality, food and foodtech, next generation ecommerce, logistics, education and edutech, and mobility and electric vehicles. NCR has a unique opportunity to become a magnet for startups building in each of these scetors by developing market shaping policies and launching programs in these sectors,” said Pari Natarajan, CEO, Zinnov.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.