Judging from India’s historically technical workforce, it’s no surprise that the country’s tech industry is flourishing. Startups are popping up left and right, from Delhi to Hyderabad to the city that has been dubbed the Silicon Valley of India, Bangalore.
India’s startups have been a combination of unique solutions for day-to-day problems in India, as well as copycat startups that have taken popular apps from around the world and customized them to suit the Indian population. For example, the most highly funded tech startup in India of the year 2015 is an app based out of Bangalore called Ola, which follows Uber’s concept of instant cabs.
A startup that’s also caused a lot of excitement is OYO, which is a digital platform that powers a network of hotels across India and Southeast Asia with a seamless user interface. Its founder is 21 year old who has raised over $150 million to date.
A unique partnership between the Govt. of Telangana and key stakeholders in the startup ecosystem, T-Hub’s mission is to catalyze the creation of one of the tightest, most successful and vibrant entrepreneur communities in the world, and make Hyderabad the place to be. Startup Village aims to bring the tools and resources to create great startups to every founder in India. With a 150+ mentor network and associations with notable organizations, Microsoft Accelerator offers entrepreneurs a platform to accelerate their startups and take them to the next level.
The Indian government has been one of the biggest supporters of startups in the country. Earlier this year, the government announced a series of incentives that they will be providing for Indian-based startups, which include a Rs 10,000-crore corpus for innovation-driven enterprises, a three-year break from paying income tax on profits, a Rs 500-crore per year credit guarantee mechanism, and exemption from capital gains tax for start-ups.
Additionally, the Indian government launched Startup India in 2015 to provide investments for startup ventures with the end goal of boosting entrepreneurship and encouraging job creation in the country. The organization has funded 5 startups to date, and incubates a number of projects too.
Startup India is one of many organizations who are looking to boost entrepreneurship to encourage job creation. 10000 Startups has an inspiring goal of accelerating and incubating 10,000 startups in the next 10 years! You can check out how many they have so far here.
Another – and our favorite – trend that has helped boost tech innovation in India is the growing popularity of hackathons. AngelHack is proud to be bringing its Global Series to India for the third year running. We also had a blast last year hosting our Kerala Road Safety hackathon with the World Bank and the Kerala Road Safety Authority, to use tech to solve the prevalent issue of road accidents. We had an amazing 21 projects come out of this hackathon!
This year, AngelHack will be touring in our usual cities Hyderabad, Mumbai, Delhi, and Vizag, and we will also be entering Trivandrum for the first time.
Stay tuned for the exact dates & check out our awesome network of ambassadors below!
Meet our ambassadors!