Report: With a few changes, Delhi-NCR could become global startup hub
A report released by not-for-profit TiE and consulting firm Zinnov highlights key changes required to be brought about in Delhi-NCR’s start-up ecosystem. After a study which involved developing an in-depth understanding of the Startup ecosystem in Delhi-NCR after which, they identified the most important actions that need to be taken to turbo-charge the startup ecosystem in NCR.
With over 7000 startups, NCR is also home to 10 unicorns. At least 1 new unicorn emerges there each year since 2013. The cumulative private market valuation of start-ups currently worth USD 50 billion, makes Delhi-NCR the largest start-up ecosystem in the country along with the other factors.
The report highlights key challenges to the growth of the startup ecosystem in NCR. Accelerating growth of the ecosystem will require addressing several core areas, it said, including the need for a lot more seed and early stage funding, creating more affordable co-working spaces, increasing the number and quality of accelerators and incubators, developing deeper pools of technical talent and developing sector specific policies.
To capitalize on the potential, several proactive actions were recommended by the report. These included focusing on 10 sectors where NCR can build true leadership, developing programs and policies in each of these sectors, strengthening core infrastructure and the talent pool, and placing a major focus on improving Seed and early stage funding in NCR.
However, the authors Geetika Dayal, Sudhir Gupta, Rahul Mahto, and Atit Danak said that with appropriate interventions, Delhi-NCR will become one of the Top 5 Global Start-up hub with 12000 start-ups, 30 Unicorns and cumulative valuation of USD150 Bn by 2025.
