Need to have early stage funding to accelerate start-up ecosystem: Report

Our Bureau New Delhi | Updated on September 10, 2019

In a bid to accelerate the start-up ecosystem, there is a need to have an early stage funding, create more affordable co-working spaces and to increase the number as well as quality of incubators, according to TiE Delhi-NCR report.

The report titled, 'Turbocharging Delhi-NCR Start-up Ecosystem’ in partnership with Zinnov mentioned that focus should be given on 10 sectors where NCR can build true leadership, develop programs and policies in each of these sectors besides strengthening core infrastructure and the talent pool.

“We have identified 10 sectors including consumer internet, consumer products, travel and hospitality, food and food-tech, next generation e-commerce, logistics, education and edu-tech, and mobility and electric vehicles. NCR has a unique opportunity to become a magnet for startups building in each of these sectors by developing market shaping policies and launching programs in these sectors”, said Pari Natarajan, CEO, Zinnov.

It further added that three world-class start-up hubs should be established. One each in Delhi, Noida and Gurugram. Also, facilities should be designed to provide infrastructure for co-working space.

"NCR’s startup ecosystem has incredible momentum. With concerted focus on the most important areas, NCR has the potential to become a Top 5 Global hub for startups, lead innovation across many sectors, create many more startups and have at least 30 unicorns in NCR by 2025," said Rajan Anandan, President, TiE Delhi-NCR.

The report also mentioned that an innovation fellowship program should be created to attract individuals with prior hands-on experience in building start-ups to improve the quality of incubators and accelerators. It added that currently, Delhi-NCR is home to over 7000 startups and 10 unicorns, with at least one new unicorn emerging each year since 2013.

Published on September 10, 2019

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