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NASSCOM STUDY ON STARTUP ECOSYSTEM

NASSCOM STUDY ON STARTUP ECOSYSTEM

Context:

According to a recent NASSCOM study, the startup ecosystem in India has increased twice. Between 2020 and 2021, the country's startup industry has grown to 330 billion USD.

Key Findings of the Study:

  • According to a new study by NASSCOM and Zinnov, start-ups raised a record $ 24.1 billion by 2021, a two-fold increase over pre-COVID-19 levels.
  • According to the survey, ‘Indian Tech Start-up Ecosystem: Year of The Titans’, more than 2,250 start-ups were added in 2021, over 600 more than what was added in last year.
  • The startup raised $ 24.1 billion by 2021, which is a double increase from pre-COVID levels.
  • Compared to 2020, there has been a 3X increase in the number of high-value deals (deals> USD 100 million), reflecting investors' confidence with a pool of active angel investors of 2400+ and a readiness to take significant risks.
  • While the U.S. remains a leading foreign direct investment (FDI) source in the beginning, global engagement is also growing. About 50% of the deals have at least one investor in India.
  • It said more than $ 6 billion had been raised through public markets by 11 start-up IPOs in 2021. 
  • The study added that the startup ecosystem saw 2X gain from the census collected from 2020 to 2021, at a rate of $ 320- $ 330 billion. This indicates the progress and sustainability of the sector throughout the pandemic. 

NASSCOM:

  • NASSCOM stands for the National Association of Software and Service Companies. 
  • It is a non-governmental organization that works to grow the IT industry in India.

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