Hyderabad: The city features in “Top 100 Emerging Ecosystems” list of Global Startup Ecosystem Report (GSER). Telangana makes it to Top Ecosystems for funding.
The Hi-tec city of Hyderabad ranked higher than Pune and Chennai with regards to funding for startups for the year 2021. Bangalore continued to assert its dominance as the best startup space in India, while Hyderabad shared its position with Pune and Chennai.
Telangana has made it to top spaces in terms of recruitments for startups on the GSE report due to its recruitment assistance performance grants, which has been able to attract a number of startups.
According to the scheme, a sum of Rs 10,000 per employee is granted to the venture for the first year, while state based startups that reflect a year on year growth of 15% in the first 3 years since their incorporation, will be eligible for a 5% additional grant based on the turnover with a limit of $ 13,600.
Telangana was also adjudged favorable for science especially in terms of AI, Big Data and Analytics.
The GSER conducted a survey of 280 ecosystems worldwide and ranked the top 140 ecosystems.