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Showing posts with the label tech startup hub

India's Startup Ecosystem Scales Up With Widespread Government Initiatives

With 4,200 tech startups, India is the third-largest tech startup hub in the world. But the steady increase in startups and a range of initiatives by the Indian government to spur growth does not mean the challenges for entrepreneurs are any less. In India, 40% of startups failed since 2014, while in the first five months of this year, over 18 businesses have shut down, according to separate surveys conducted by startup tracker Xeler8 and tech media platform Inc42. “As many as 997 of 2,281 startups in logistics, e-commerce, food tech and analytics collapsed since June 2014. The average age of these failed ventures is just over 11 months,” says Rishabh Lawania, founder of Xeler8. Last week, Indian retail mogul Kishore Biyani raised eyebrows among Indian entrepreneurs at the  Economist  India Summit in New Delhi when he said a majority of the startups lack long-term vision and were created with the aim to sell themselves off to larger companies. “Ninety percent of startups