The startup ecosystem of India has seen a phenomenal growth in the investments in 2018. On the other side, the investments in the seed stage fell and that in the early stage has grown marginally said a nasscpm report that was launched on Thursday.
The overall investment has grown to 100 percent tp $4.2 billion in the year 2018 from $2 billion within the same period in the year 2017.
“India’s startup landscape has become the epitome of innovation and we are seeing many startups tackling locally relevant issues,” said Nasscom president Debjani Ghosh.
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The Indian startups have also achieved the scale and volume with 2018 looking at the addition of the eight unicorns taking the total number to 18.
Unicorns are privately funded companies that have a valuation of more than $1 billion. Bangalore is said to be the third highest place for the startups among the global cities the report says.
The first two are Silicon Valley and London.
Overall, India continues to hold its position as the third-largest startup ecosystem, with 1,200 tech startups emerging in 2018, bringing the total to between 7,200 and 7,700. The first two are the US and UK.
The reports say that the ecosystem has created more thab 40,000 direct jobs in the year 2018 taking into consideration the total employement in the segment to 1.6 to 1.7 lakhs.
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