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Stop startups from setting base abroad, iSPIRT tells Govt

Says the government must address 34 points to make companies 'stay in India'

BS Reporter  |  Bengaluru 

India may see an exodus of startups that raise venture capital and private equity funds to domicile in either Singapore or the US, if the government does not address  34 issues, collectively called the stay-in-India checklist, iSPIRT, the lobby group for home grown software product innovations has warned. In 2015, three out of four companies that raised funds from global venture capital firms were domiciled outside India, up from 54 per cent of the firms in 2014. Six out of the eight Unicorns (startups valued at over $ 1 billion) have been domiciled outside of India, either in ...

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First Published: Sat, February 06 2016. 00:39 IST
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