India is becoming the world’s fastest-growing startup ecosystem. As per many trusted reports, India’s startup economy has been booming. There were approximately 3000 startup businesses in 2014 and it will continue to escalate to millions in the coming years. The last few years have witnessed significant activity in multiple fields including the founding of new and unique startups, amount of funding and number of investment rounds, inflow of startups and global investors, development of better infrastructure, global mergers and acquisitions, and internationalization.
Young entrepreneurs are dominating the startup scene in India with the majority of founders in the age bracket of fewer than 36 years. In recent years, we have witnessed how successful startups like Paytm, Housing.com, InMobi, Rebus, etc. have changed the way industry works and the Indian startup ecosystem currently ranks as the 3rd largest on the entire planet.
The role of startups is important to our society to develop our nations and it is pivotal to develop an entrepreneurship culture in our country for more startups. Business Consultants, accelerators, and incubators are firms providing startups with growth advice and decision-making tools, and with that Indian startup ecosystem has evolved dynamically in the last few years. The future of startups in India holds immense promise and the young risk-takers are humbly contributing to its creation.
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