Around 7,000 startups and 10 unicorns, having a cumulative valuation of about $50 billion (approx INR 3,59,545 crore) are established out of Delhi-NCR, says a report by TiE-Delhi-NCR and Zinnov.
The report was released by Amitabh Kant, chief executive officer of Niti Aayog, and said that vibrant hubs need to be created in Delhi, Gurugram and Noida that can be catalysts and agents of change. He also assured that the government will continue to support setting up of incubation centres in the region to help the start-up ecosystem.
The numbers are greater than the startups in Bengaluru and Mumbai.
The report stated that Delhi-NCR accounted for a 23 per cent share of start-ups in the country. While there were 7,039 start-ups in Delhi-NCR, Bengaluru had 5,234, Mumbai 3,829 and Hyderabad 1,940.
Within Delhi-NCR, Delhi accounted for 4,491 start-ups, Gurugram 1,544 and Noida 1,004 new businesses.
“What’s encouraging about the ecosystem in Delhi-NCR is that we actually have a very broad varied mix. As a region, NCR has created one at least one unicorn every year since 2013. And unlike other regions, the 10 unicorns that we have, they’re not from one particular sector, they are from fin-tech, e-commerce, logistics, food, energy and so on,” Rajan Anandan, President of TiE Delhi-NCR said.
The report, clearly revealed that Delhi-NCR has 10 unicorn companies with valuation of over $1 billion against nine in Bengaluru, two in Mumbai and Pune, and one in Chennai.
The report further added that with appropriate interventions, Delhi-NCR can become one of the top-5 global start-up hubs and could have over 12,000 active technology start-ups, 30 unicorns and account for cumulative valuations of more than $150 billion.
Adding on, the report shows that around 1,361 start-ups in Delhi-NCR and a total of 5,875 start-ups were founded in India in 2016. The number of start-ups being founded in Delhi-NCR stood at 826 (2017), 420 (2018) and 142 in the first half of 2019.
A total of 3,478 start-ups were set up in India in 2017, 2,036 (2018) and 800 in the first half of 2019, the report added.