TiE Pune KPMG Entrepreneurship Report on Pune
Pune: The City of Pune is at the cusp of startup revolution and on an upward trajectory according to a report on entrepreneurship in Pune published at the two days TiECON 2019 event organized by The Indus Entrepreneurs at Westin Hotel. TiE Pune has partnered with KPMG to release this report. Pradeep Udhas Office Managing Partner – West KPMG in India , Kiran Deshpande , President TiE , Keshav Murugesh Group CEO WNS Global Services and Chairman Nasscom , Corporate Advisor R. Gopalakrishnan , TiECON 2019 Chairperson Vineet Patni and experts like Harish Mehta , Ganesh Natrajan , Vandana Saxena , B.V Jagdeesh , Vishwas Mahajan were present on the occasion.
The report states that availability of large talent pool, high standard of living, robust technology, infrastructure are just some of the factors which are aiding startup landscape in this city. However, the city still has some ground to cover before it can become the startup capital of India. Also, a lot needs to be done to effectively compete with startup hubs of the world such as Boston, Beijing, Silicon Valley, etc.
But with a slew of new launches early-stage investing, acquisitions, mentoring and more it is time to welcome Pune in its new avatar Pune 2.0.
The report was presented by Pradeep Udhas Office Managing Partner – West KPMG in India.
According to the report Pune- the city which is ranked no. 1 in ease of living index is home to 3200 active Startups ( 2018) across various new age sectors such as health tech, edtech, Autotech, agritech, etc with many more to emerge in the coming years. 2 % of India’s tech start-ups are based out of Pune . Between 2014-18 ( September), Pune received 69 billion INR ( USD 1 Billion ) in funding through 132 deals with 2016 accounting for 42 deals.
The key enablers have been education institutes (COE), accelerators, investors, co-working spaces, etc. The key challenges though lie in access to funding, international connectivity, lack of adequate incubators and accelerators and rapid transit metro connectivity. The report recommends more skill enhancement and training of entrepreneurs, bolstering physical and digital infrastructure, policy, regulatory and institutional direction.
According to the center for American Entrepreneurship’s report‘ Rise of the Global Startup City”, Pune is ranked 10th in the ‘global next’ category. The global next cities are those who could not qualify as established global startup hubs but rank among the top 100 cities for global venture capital deals and among the top 60 for angel and seed stage investment. During 2015-2017 period, Pune received a total VC funding of INR 21.5 billion ( USD 311 Million) in 91 deals and was ranked 11th in terms of growth in VC deals secured in 2015-17 as compared to 2010-12 period indicating the expansion of startup ecosystem in the city.
Vineet Patni, Chairperson TiECON 2019 opined that Pune has the potential to compete with global hubs like Silicon Valley or Israel if we give more thrust on innovation.
The forward for this 64-page report has been written by Arun Kumar Chairman and CEO of KPMG in India and Pradeep Udhas Office Managing Partner – West KPMG in India.
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