Even though the Indian startup ecosystem witnessed subdued funding in 2016, the year-on-year growth of startups getting funding grew by 8% in the same period, states a report by IT industry body Nasscom and research firm Zinnov.
Amidst the popular belief of the Indian startup ecosystem’s slowdown, India continues to harbor the third largest start-up base, marginally behind the UK as per the NASSCOM-ZINNOV start-up report titled“Indian Start-up Ecosystem Maturing – 2016”. The report further states that the ecosystem is poised to grow by an impressive 2.2X to reach more than 10,500 start-ups by the year 2020. The report was launched on the side-lines of NASSCOM Product Conclave 2016 in Bengaluru in the presence of C.P. Gurnani, Chairman, NASSCOM; R. Chandrashekhar, President, NASSCOM, Ravi Gururaj, Chairman, NASSCOM Product Council and Pari Natarajan, CEO, Zinnov.
Read more at http://blogspot.siliconvillage.net/2016/10/india-see-dip-in-funding-but-targets.html