New Delhi : There are approximately 3000 women led start-ups and about 11% of fund managers are women. A study by IIT Chennai has found that 21% of funded start-ups are led by women. Capital allocation is slightly skewed with about 43% of capital flowing to Bengaluru and about 24% to Maharashtra. About 174 start-ups in our portfolio are from Tier-2 and Tier-3 cities including those from Tripura and Jammu & Kashmir.” said Satya Prakash Singh, CGM, SIDBI at an ASSOCHAM Event on Start-Up Ecosystem.
Speaking on the development of start-up ecosystem in the country Singh said, “The first start up fund in India was launched in 2011-12 by SIDBI with 2000 crore borrowed from the RBI. The government allocated 10,000 crores to the initiative in 2016, and the ecosystem flourished. The number of registered Alternative Investment Funds (AIFs) has increased dramatically, rising from just 69 to over 1,400 and over 1,60,000 startups have benefitted from the support of the DPIIT, including 22 unicorns within its portfolio. Sovereign capital has enhanced the credibility and viability of the ecosystem as Government-backed funding increases trust and helps in attracting private investment.”
In a freewheeling discussion on start-ups, Mr. Singh Said, “Most proposals are driven by the concept of Me Too, something happens somewhere in some part of the world, and I am trying to make a similar product. Start-ups that are run by passion and not by fashion has higher chance of success, but too much passion can also kill the business. The government and regulators are dedicated to nurturing the ecosystem.”
At a special session on “Fueling Growth of the Indian Startup Ecosystem,” Mr Sanajy Nayar, President of ASSOCHAM acknowledged the immense progress made under the Prime Minister’s leadership over the past decade while highlighting the need for further development in India’s funding and innovation ecosystem.
