Monday, May 27

Young tech startups relocating overseas??

A recent observed change in the Indian Startup ecosystem is raising eyebrows over the projected growth in a recently started new year. As per a leading think tank in the country iSPIRT(Indian Software Product Industry Roundtable), approximately 75% of the young tech startups eyeing the global market may shift overseas to make a new base, reason being better investment opportunities, better regulatory environment and facilities.

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Source: iSPIRT

 

Indian eCommerce giant Flipkart and leading mobile advertisement firm InMobi have already their bases in Singapore and many more startups are thinking of catching the same train unless government takes some steps to provide some better opportunities. On the other side, hungry for intellectual growth, the government and investors in other countries are welcoming Indian tech companies with an open heart. A Singapore-based investor even offered $100 million (Rs 632.7 crore) for funding and infrastructure for 10 years to InMobi on private terms.

According to iSPIRT’s first Software Product index (iSPIx), 9 out of top 30 business-to-business software product companies and startups by market capitalization have already shifted to the US, UK and Singapore, worth $6.2 billion (Rs 39,137 crore), having an employee strength of almost 18,000 people.