Just $87 Mn worth of funding was raised outside of the tier 1 cities in 2020 compared to $234 Mn raised in 2019
Between 2014 to 2020, around $1.07 Bn has been raised by startups from Tier 2 & 3 cities
Government-backed startup policies, state-funded incubators and various other schemes have all played a crucial role in propelling the fledgeling startup ecosystems in India’s Tier 2 and 3 cities, but is it enough?
Over the last six years, India’s startup ecosystem has come a long way. Having become the world’s third-largest startup ecosystem with over 55,450 startups, India is at the centre of funding plans of the world’s biggest investment funds. But as entrepreneurs chase the next billion users to make products and services for, there has been an increasing expectation that investments will come in the cities where these users live. We are talking about Bharat, which resides in tier 2 and tier 3 cities of India.
With an internet user base of over 700 Mn, India is the market…