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Road to Recovery: Indian Tech Start-up Landscape 2024

India's tech startup ecosystem has rapidly evolved into one of the world's largest and most dynamic, driving both innovation and economic growth. Over the past few years, we have witnessed remarkable progress within this ecosystem, in terms of rising startup formations, deepening technology capabilities, growing Indian investor confidence, and expanding sectoral diversification. However, macroeconomic fluctuations, funding cycles, and evolving regulatory landscapes have also reshaped the ecosystem, bringing both challenges and new opportunities. This 11th edition of Nasscom’s annual tech startup report, titled “Road to Recovery: Indian Tech Start-up Landscape 2024”, provides a comprehensive analysis of the Indian tech startup landscape, offering data-driven insights, emerging trends, and forward-looking perspectives. It captures the growth trajectory, funding patterns, innovation hotspots, evolving challenges, and interventions required for sustainable long-term growth, in line with Viksit Bharat 2047 vision.
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Key Findings

01

  • 13.42% contribution to GVA by India’s core digital economy in FY25.
  • Tech driven digitization has created new-age B2C and B2B models.
02

  • Total Indian tech startups grew by over 7% to 32K-35K in 2024.
  • Tech start-ups founded in emerging hubs made up 44% share in 2024, 4% higher than 2023.
03

  • Academia leads the pack in India with 390+ Incubators and Accelerators, followed by Private Organizations.
  • 93% of incubators and 51% accelerators follow a sector-agnostic model.
04

  • 88% of founders reported an increase in revenues, exceeding the 67% anticipated in the 2023 survey.
  • 99% and 89% of founders expect their revenues and profitability to grow in 2025, respectively.

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