Impact of Technology Startup on Economic Development with Reference to India and China

The founders of a startup company often provide the first capital for the company, however these individuals may also look for funding from other sources before the company officially launches. Startups are often new enterprises that are still in the process of developing their products and conducting research on the market. India gained more than 1,300 active digital firms in the last year, bringing the country's total to somewhere between 25,000 and 27,000. India continues to have the third-largest tech startup ecosystem in the world, after the United States and China. There is a pressing need for institutions to concentrate their efforts on the minds of young people in order to raise awareness of startups and the implications of startups for the expansion of the economy. The objectives of study to determine the rate of growth experienced by technology startups and to investigate the effects that new technology businesses have had on employment and the economies of India and China. This study has mostly concentrated on exploratory research and has made use of secondary data in order to determine the number of unicorn startups. In India the government initiating several schemes and policies for encouraging and promoting new startup and innovators for sustaining the country economy in global market, like China government initiated various promotional schemes to increase more number of startup in their country. Based on the analysis India startups are steeply increased and it's a proud moment which stood one of the third largest countries in global startup index.