India will be home to 10,500 start-ups by 2020: Report

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India continues to harbour the third largest start-up base, marginally behind the U.K., according to a Nasscom-Zinnov start-up report.

The report, titled “Indian Start-up Ecosystem Maturing – 2016,” says that the ecosystem is poised to grow by an impressive 2.2X to reach more than 10,500 start-ups by the year 2020 despite the popular belief that the Indian start-up ecosystem is slowing down.

There is an increased interest from student entrepreneurs this year, according to the report. A remarkable growth of 25 per cent has been witnessed in 2016 with over 350 ventures founded by young students. The median age of start-up founders has reduced marginally from 32 years in 2015 to 31 years in 2016.

“Technology start-ups are creating a new identity for India and its technological prowess,” said R. Chandrashekhar, President of the IT industry body Nasscom, in a statement. “They are defining the way the world operates making life better and easier for people and businesses alike.”

Some of the notable findings of the report include; continued growth in the number of start-ups in 2016, with Bengaluru, the National Capital Region, and Mumbai continuing to lead as major start-up hubs for the nation.

In terms of vertical growth, investors are looking at the domains like health-tech, fin-tech, and edu-tech. With a total funding of approximately $4 billion, close to 650 young firms were funded signifying an aware and healthy growth of the ecosystem, according to the report.
The number of technology firms in India is expected to grow by 10-12 per cent to over 4,750 start-ups by the end of 2016, according to the report. Interestingly over 1400 new ventures have emerged in 2016 denoting that the ecosystem is becoming prudent with both investors and start-up founders focusing on profitability and optimising the overall spend.

With this impetus, India will become home to over 10,500 start-ups by 2020, employing over 210,000 people reveals the report.

“Today, India is brimming with new ideas which need the right guidance and funding to be scalable for the market,” said C.P. Gurnani, Chairman, Nasscom, in a statement.

Source: http://www.thehindu.com/business/Industry/india-will-be-home-to-10500-startups-by-2020-report/article9272293.ece

Indian medical tourism industry to touch $8 billion by 2020: Grant Thornton

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According to a CII – Grant Thornton white paper, cost is a major driver for nearly 80 per cent of medical tourists across the globe.

As healthcare turns costlier in developed countries, India’s medical tourism market is expected to more than double in size from USD 3 billion at present to around USD 8 billion by 2020, a report says.

According to a CII – Grant Thornton white paper, cost is a major driver for nearly 80 per cent of medical tourists across the globe. The cost-consciousness factor and availability of accredited facilities have led to emergence of several global medical tourism corridors – Singapore, Thailand, India, Malaysia, Taiwan, Mexico and Costa Rica.

“Amongst these corridors of health, India has the second largest number of accredited facilities (after Thailand). The Indian Medical Tourism market is expected to grow from its current size of USD 3 billion to USD 7-8 billion by 2020,” Grant Thornton India’s National Managing Partner Vishesh C Chandiok said.

Bangladesh and Afghanistan dominate the Indian Medical Value Travel (MVT) with 34 per cent share.

Africa, GCC and CIS regions (whose current share is just 30 per cent) present the maximum possible opportunity for the Indian healthcare sector. Medical tourists from these sectors currently favour the South East Asian medical corridors.

Chennai, Mumbai, AP and NCR are the most favoured medical tourism destinations for the floating medical population who avail treatments in India.

“While the number of MVTs itself is poised to grow at over 20 per cent CAGR, Kerala needs to focus on its visibility as a healthcare destination amongst other states,” said the report.

Kerala attracts only 5 per cent of such medical tourists currently and has the potential to increase its share to a 10-12 per cent with a focused marketing strategy.

As per the study, the key factor to drive medical value tourism in Kerala will be availability of national as well as globally accredited facilities across the entire state, an area where Kerala lags behind in comparison to Tamil Nadu, Maharashtra, NCR and Andhra Pradesh.

“… Kerala is already one of the most preferred tourist destinations in the country. For medical value tourism, however, there is a clear need to build and upgrade infrastructure,” Grant Thornton India Partner Vrinda Mathur said.

The white paper suggests tapping a larger share of the health wallet of the African, Asian, Middle East patients as well as welcoming tourists from other regions and countries, as also a marketing campaign with active support of the government and private sector.

Source: http://health.economictimes.indiatimes.com/news/industry/indian-medical-tourism-industry-to-touch-8-billion-by-2020-grant-thornton/49618595