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1400 New Firms: India Retains its Start-up Hub tag

Despite a funding slowdown this year compared to last year’s bonanza, as many as 1,400 startups have come up in the country this year.
●    It has allowed India to maintain its position as the third largest startup base in the world with over 4,750 tech startups.
●    It is ahead of countries such as China and Israel in the startup report released at the Nasscom Product Council revealed. 
●    Even the number of startups that have been funded this year has increased by 8%, though the overall funding has come down by 20-30%. 
●    One of the reasons for the funding to have come down could be that investors are funding in tranches based on milestones. 
●    But it’s a very positive sign that more startups are getting funded," said Ravi Gururaj, chairman, Nasscom Product Council.
 

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