Mumbai Startup Pulse 2013 – Trends and Insights
Third in our Startup Pulse 2013 series, we bring you what the Mumbai entrepreneurs think of the startup ecosystem there.
- Consumer Internet startups form 19% of the survey respondents.
- Only 25% of the startups are revenue generating and only 19% are profit making.
- 50% of the startups are leveraging iOS while iOS and Windows are being leveraged by 31% of the startups.
- Only about 13% of the startups are leveraging Amazon Web Services and Google App Engine for their Cloud requirements, which is relatively lower compared to other cities.
- 31% of all startups have headcount growth plans of 6-20 in the coming 6-12 months.
- 67% of the startups were bootstrapped and 10% were seed funded.
- 45% of the startups were looking for seed funding and 12% for Series A in the next 6-12 months.
- 52% of the startups were undecided on the preferred exit strategy.
- 69% of the startups had not pitched to an investor till date.
What they felt was missing:
- Ecosystem level – 56% felt that access to mentors was lacking; 44% felt that access to investors and big technology firms for collaboration were lacking.
- Organization Capability level – 75% felt that the biggest help needed was in the fund raising area, followed by 38% who felt that they needed help with marketing.
- Talent level – 44% felt that great designers and 31% felt good sales and business development professionals were in short supply in the local talent market.
- 66% of Consumer Internet startups had growth plans of 2-10 employees in the next 6-12 months.
- 100% of all B2B Software and Clean Tech startups were bootstrapped by the founders.
- 100% of all Consumer Internet and Lifestyle startups felt that they needed help and guidance in fund raising.
- 19% of all startups felt that Government grants to encourage startups and co-working spaces would benefit the overall ecosystem hugely.
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