While we know India has the third largest ecosystem in the world, which are the places within the country that are most preferred by budding entrepreneurs and startups to start their journey?
According to a recent report from Data analytics company Tracxn Technologies, NCR, which comprises of New Delhi, Gurgaon and Noida currently houses a whopping 8,772 startups, which is the highest in the whole of the country. Not only this, the three cities also house some of the most rapidly evolving technology hubs in the country within themselves, separately. Further, the combined region can also pride itself on housing the highest number of online retail startups in the country at 1,288 startups. Some of the popular startups in the region include Paytm Mall, Snapdeal, Shopclues and Limeroad.
The rise of Delhi NCR as India’s most preferred location for starting up might seem a shocker to some people, especially considering the fact that when the entrepreneurial wave first hit India, it was the cities of Bangalore and Hyderabad that had dominated the Indian startup ecosystem and became instant favourite locations among the industry people. While the startup fever might have entered Delhi NCR late than its counterparts, but it is surely spreading through the cities’ tribes faster than any other place in the Indian subcontinent.
Being the country’s capital seems to have worked wonders for Delhi’s startup ecosystem. Startups in Delhi NCR have easy access to important government offices, top talent from institutes such as IIT Delhi and Delhi College of Engineering etc., a fast pace city life with a mix of people having different opinions, choices, languages, and a business hub of some of the world’s top most companies.
Entrepreneurship seems to be the flavour of the season for Indians. A recent survey by Dutch multinational human resource consulting firm Randstad had revealed that the South Asian country is the keenest when it comes to taking the entrepreneurship route.
The survey highlighted that out of the 400 Indian workers the firm surveyed, 56 per cent were considering hanging their boots and starting businesses of their own. According to the global recruitment firm, the figure was the highest globally.
India is currently seeing the emergence of a new generation of youngsters who are capitalising on the hard-won financial security of their parents and venturing out of the mundane 9 to 5 job routine to try their luck in the risky startup business. More and more young people in the second largest populated country on the Earth are now embracing the startup culture, which can be seen as a stark contrast to the previous generations of the country which aggressively endorsed employment stability above all else.
According to the Randstad survey, the Indian youth’s attraction towards entrepreneurship and startups is sparked by the current startup friendly atmosphere in the country. Some even cited government’s initiative such as the Rs 10,000 crore Startup India fund when answering their reason behind favouring entrepreneurship over a regular service job.
This development was first reported in Economic Times.