Bengaluru has world's third highest number of startups: Nasscom

Bengaluru has the third highest number of startups in the world after Silicon Valley and London, according to IT industry body Nasscom's 2018 report titled 'Indian Start-Up Ecosystem'.

 

The report further stated that India continues to hold its position of being the third biggest startup ecosystem in the world behind USA and UK. A total of 1,200 startups emerged in 2018 alone, taking the number to well over 7,000. 

 

As per Times of India, the report noted that 40% of the startups are outside Bengaluru, Delhi NCR and Mumbai, showing a spike in the number of startups in Tier 2 and Tier 3 cities. 

 

The report also highlighted that the number of Unicorns in India had risen to 18 with eight companies adding itself into the list. Unicorns are privately funded companies with a valuation of over $1 billion. Udaan, Oyo, Swiggy, PayTM Mall, Zomato, Freshworks, Policybazaar and Byju's are the new entrants in the billion-dollar category. The spurt was attributed to an increase in late-stage funding, especially Series C, D, E and F, which saw a 250% increase in funding in the year.