According to the Assocham-Thought Arbitrage paper, India becomes the third largest number of technology driven start-ups in the world.
India has moved up to third position (4200) with the US occupying the top position with more than 47,000 and the UK with over 4,500.
According to Report, Bengaluru is host to the largest share of technology start-ups in the country, followed by Delhi NCR and Mumbai, while Hyderabad and Chennai are also quite popular among budding tech entrepreneurs.
In terms of total number of start-ups, comprising both tech and non-tech areas, India again figured among the five largest hosts in the world, along with China (10,000 each).
The US occupies the top slot with 83,000 start-ups.
IT hub Bengaluru is host to 26 per cent of domestic tech start-ups, followed by Delhi NCR (23 per cent) and Mumbai (17 per cent).
In the ‘catching up’ category were Hyderabad (8 per cent), Chennai and Pune (6 per cent each).
The study recommended that synergising ‘Startup India’ with ‘Make in India’ and ‘Digital India’ initiatives has the potential to expand the domestic ecosystem for new entrepreneurs.
It also suggested tax exemption for research and experimentation to encourage fresh ideas without fear of failure.