Delhi-NCR leaves behind Mumbai & Bangalore with over 7,000 start-ups, 10 unicorns
- Delhi-NCR has 10 unicorns – organizations with valuation of over USD 1 billion
As per a report by by TiE-Delhi-NCR and Zinnov, Delhi NCR is way ahead of cities such as Bengaluru and Mumbai when it comes to new businesses. It is home to over 7,000 start-ups and 10 unicorns having a cumulative valuation of about USD 50 billion.
The report, titled ‘Turbocharging Delhi-NCR Start-up Ecosystem’, expressed that Delhi-NCR represented a 23 percent portion of new companies in the nation. While there were 7,039 new businesses in Delhi-NCR, Bengaluru had 5,234, Mumbai 3,829 and Hyderabad 1,940. These new organizations were established somewhere in the range of 2009 and 2019. Inside Delhi-NCR, Delhi represented 4,491 new companies, Gurugram 1,544 and Noida 1,004 new organizations.
The report featured that Delhi-NCR has 10 unicorns – organizations with valuation of over USD 1 billion – contrasted with nine in Bengaluru, two each in Mumbai and Pune and one in Chennai.
TiE Delhi-NCR President Rajan Anandan was quoted saying, “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.”
Anandan said access to subsidizing over all stages should be improved, and base of active angel investors in Delhi-NCR ought to be expanded. He concluded by saying, “Except the US, no other country has more than five cities in the list, making India truly a broad-based start-up ecosystem.”