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Indian Startup Ecosystem Better than China and Israel, Says Michael Marks

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Published on : Dec 11, 2017

In 2017, almost 19,000 mainstream tech startup in India raised nearly US$31,299 mn investments, of which, the most notable came in the Q2 onwards. Taking this in consideration, Michael Mars, the co-founder and the MD of Innovative Partners, stated that the start-up ecosystem of India is much ahead of economies, such as China and Israel. The Twitter and SpaceX investor further stated that India has a strong and deep-rooted startup ecosystem. However, he quickly pointed out that Indian startups still need to get rid of regulatory issues that have it tied all around and focus more on innovating solutions for local issues and not just keep implementing examples of global technology leaders. “Currently, a cultural shift towards entrepreneurism can be seen in India, which augurs well for the country in the years to come; however, there are lesser number of angel investors and VCs in comparison with the number of startups,” he added.

He further states that while these startups are on the way to maturation, the market still requires to bring in more investments as compared to the current scenario. “The regulatory issues have been a hindrance to attract more investments to India but with GST and demonetization, it will get better, organically,” he said adding that the investment opportunity in this country is in its budding phase as of now, with three-fourth of the capital in Delhi, Bengaluru, and Mumbai.”