Posted by amita gar

India and China are not only among the two largest economies in the world but they also have the most thriving startup ecosystems as well. While China has the second-largest startup ecosystem, it is followed by India at the third position. In this video, we will compare the startup ecosystems of Asia's two largest economies, examine why Chinese startups are ahead of Indian startups and what India can learn from the success of China’s startup ecosystem. 00:00 India vs China: Introduction 04:08 China is creating 10,000 startups every day 05:52 Role of incubators and accelerators 07:33 Startup hubs 08:13 Most valuable startups 10:40 Startup funding 12:40 Ease of doing business 15:50 Government initiatives promoting startups and entrepreneurship China is creating 10,000 startups every day: According to numerous reports floating around on the internet, China is home to 30 million startups and the country is creating 10,000 startups every day. With 206 unicorns, China is home to 40% of the world's unicorns. India, on the other hand, has 80,000 startups with 31 of them being unicorns. While India's startup ecosystem is still in the nascent stage, Indian startups are more likely to become unicorns when compared to Chinese startups. Role of incubators and accelerators: One of the reasons why China has so many startups is because they also have the most number of incubators and accelerators in the country. It has 11.800 incubators, compared to merely 520 in India. Incubators and accelerators are important in a startup ecosystem as they provide the necessary initial support like seed funding, mentorship and working spaces which increases the chances of success of a startup. Startup hubs: Majority of China's startups are located in cities like Shanghai, Hangzhou, Shenzhen and Beijing. Beijing is also called the unicorn capital of the world as it is home to 40% of China’s unicorns and 16% of all unicorns around the world. India's startup hubs include cities like Delhi-NCR, Mumbai, Hyderabad and Bengaluru. Most valuable startups: Three of China's most valuable startups include ByteDance, which is also the world's most valuable startup with a valuation of $75 billion. Followed by ByteDance, Didi Chuxing, China’s ride-sharing giant is valued at $56 billion and Kuaishou, another video sharing platform, is valued at $18 billion. India's three most valuable startups - Paytm at $16 billion, Byju’s at $10.5 billion and OYO at $10 billion, have a combined valuation of $36.5 billion, which is half of ByteDance. Startup funding: During the period of January to mid-November 2019, Chinese startups raised a total of $35.6 billion. Which is significantly higher compared to what Indian startups raised during the entire year of 2019, which was $14.5 billion. Ease of doing business: Both the countries have made it significantly easier for entrepreneurs to start a new business and this is reflected in their ease of doing business rankings. In 2015, China was ranked 190 and it has come a long way and is now ranked at 31. India, on the other hand, was ranked 142 in 2015 and today it is ranked at 63 the position. Back in 2015, it took an entrepreneur about 31 days to start their business while now it can be done in merely 9 days. Indian entrepreneurs were able to start a business in 29 days back in 2015 but now they can do so in just 18 days. While India is still behind China in terms of expediting reforms, the government has said that it is trying to bring down the number to merely 5 days. Government initiatives promoting startups and entrepreneurship: China launched its mass entrepreneurship and innovation program in 2015, under the program, the government provided the startups with financial support, technology infrastructure and introducing policy changes. The Indian government did something similar in 2016 with the launch of Startup India program which is responsible for a lot of new startups coming up and states introducing their own startup policies to support startups and entrepreneurship. Give us a like and subscribe to Backstage with Millionaires if you liked our video. Let us know what you think about this video in the comments below. Music: Sappheiros - Dawn: https://youtu.be/DUWRbl3eVi0 Infraction - Corporate Business Music: https://youtu.be/wGqBrJMB-Zs MOKKA - Corporate Technology: https://youtu.be/hch_vLn-6KI CO.AG Music - Money: https://youtu.be/YlQQXkSLT7Y Ross Bugden - Black Heat: https://youtu.be/mhqnK65AZmM Infraction - Corporate Technology: https://youtu.be/3eWgYzMlU0g Follow Backstage with Millionaires to remain updated with our latest developments. LinkedIn: https://www.linkedin.com/company/backstagewithmillionaires/ Twitter: https://twitter.com/bwmillionaires/ Instagram: https://www.instagram.com/backstagewithmillionaires/ #indiavschina #startupecosystem #backstagewithmillionaires #bwm