Funding for startups originating in small towns increased 41 per cent year on year in 2022, while investments in hubs such as Bengaluru, Mumbai, and the national capital region (NCR) fell 48 percent during the same period, indicating that the concentration of startups has started to shift from metro cities to smaller towns.
The deal share of non-metro startups increased 2.8 percent in 2022 from 1.6 percent in 2019, according to Blume Ventures’ Indus Valley Annual Report 2023. According to the report, India was the fourth largest destination for venture capital (VC) investments after the United States, China, and the United Kingdom.
Interestingly, while India’s share of global GDP was 3.4 percent, its share of venture capital funding was 4.8 percent.
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