Bangalore is one of the top 20 start-up ecosystems globally: R. Chandrashekhar
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2014-03-20

Bangalore is one of the top 20 start-up ecosystems globally: R. Chandrashekhar

The IT and ITES Industry Association of Andhra Pradesh, an apex body of 300 IT and ITES industries in the state organized an Annual ITsAP SME Conference 2014 in Hyderabad.

The IT and ITES Industry Association of Andhra Pradesh, an apex body of 300 IT and ITES industries in the state organized an Annual ITsAP SME Conference 2014 in Hyderabad.

 

The one-day conference witnessed over 300 participants. Sanjay Jaju, Secretary, ITE&C, Government of Andhra Pradesh formally inaugurated the meet.

 

Former Telecom Secretary and current NASSCOM National president, R. Chandrashekhar, who took over charge recently as president of NASSCOM, the body that represents the $108 billion Indian IT-BPM Industry delivered a key note address on Industry Perspective and Opportunities for SMEs.

 

“The industry is evolving constantly. Businesses are increasingly influencing technology. We are witnessing lively start up ecosystem infusing new energy fuelling innovation,” Chandrashekhar said.

 

Giving an overview of IT-BPM industry, he said it is the largest private sector employer with 3.1 million. It is the largest private sector of women employer giving employment to 1 million. It is the highest attractor of $2.4 billion PE and VC investment.

 

Speaking about Indian start-up ecosystem, he said there are 1,000-1,200 enterprises that are big and doing remarkably well. “We have 20,000 small size players. Bangalore is one of the top 20 start-ups ecosystem globally. The years gone by have registered three times growth in new firms set up post year 2005. Start-ups are increasingly focusing on solutions around SMAC,” he added further.

 

Chandrashekar also projected growth in global IT spending. He said it is projected to grow faster in 2014. IT will grow by 3.9 per cent and BPM by 5.9 per cent.

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