Looking to Asia: The state of India’s startup ecosystem
If you follow tech news, you know that this year many in the industry are betting on India. The country is no longer synonymous with outsourcing and R&D, but with entrepreneurship, especially out of Bangalore, a city that boasts more than 1700 startups according to AngelList. Private equity, VCs, and hedge funds are all laser-focused on what’s now considered the third largest technology startup ecosystem in the world. But why India? Thanks to a booming population with a burgeoning middle class, domestic consumerism is on the rise. India’s young talent — optimistic, resourceful and motivated, some even dropping out of business school to start their own companies — account for many of the new tech startups sprouting up in the last seven years. While India’s startup scene may be flourishing and evolving, however, it isn’t new. In Harvard Business Review, serial entrepreneur and global virtual incubator founder Sramana Mitra, says India has “done well in the last twenty odd years to build its technology industry through services. Today we’re seeing a maturing of the industry.” From the commercialization of...
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