India's start-up culture concentrated in a few states: RBI survey

The annual turnover for over one-fourth of the respondents was up to Rs 10 lakh, whereas around 20 per cent start-ups did not report any revenue generation

A survey on start-ups by the Reserve Bank of India (RBI) has found that India’s start-up culture is concentrated in a few states, and that most of these emerging firms took shape in the past three years, taking funds from family and friends. The survey was conducted during November 2018 and April 2019 with 1,246 start-up participants.
 
“Nearly three-fourths of the participants were from Karnataka, Maharashtra, Telangana, Delhi, and Tamil Nadu, indicating large concentration of the start-up sector in India in a few states,” the RBI’s pilot survey on Indian start-up sector revealed.
 
Nearly half of the start-ups