According to the NASSCOM India Startup Ecosystem report, India has retained its position as the third largest Startup Ecosystem in the world. More than 1,200 startups came up in 2018, including eight unicorns, taking the total number to 7,200 startups, NASSCOM reported. Considering the scale of the Indian market, even average startups can find a viable market even with average ideas and poor quality. However, on the flip side, India with its diversity and wide-ranging issues also offers a fantastic test base to develop a robust and innovative product.
In this dynamic and complex landscape, while an increasing number of entrepreneurs are emerging, a report by IBM Institute for Business Value and Oxford Economics found that 90 per cent Indian startups fail within the first five years. The emerging incubator ecosystem in the Indian landscape is a welcome shot in the arm for the starry-eyed startups.