As per the NASSCOM-Zinnov report of "Indian Start-Up Ecosystem 2018: Approaching Escape Velocity", India is ranked as the third biggest startup hub globally right after US and UK. In 2018, 1200+ startups came up in India. Since 2017, there has been almost 50% increase in the number of tech startups. Also according to a report by Microsoft Ventures and Venture Intelligence, in 2014 India had 3,100 startups but by 2020, it is expected to grow and reach 11,500 startups.
The Government of India has set up an initiative 'Startup India' to build a "strong eco-system for nurturing innovation and startups in the country that will drive sustainable growth and generate large scale employment opportunities".
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