Long a magnet for growing global businesses, especially in
software, India now enjoys a reputation as the third-largest tech
startup hub in the world.
Between 2012 and 2017, eight unicorns were recorded in India,
inspiring a whole new generation of founders.Now encouraged and
supported by the government-backed initiative Startup India, scaling businesses are flocking
not just to Mumbai and Delhi, but also cities such as Hyderabad,
Chennai and Pune. Bengaluru (Bangalore) is home to an impressive 26% of all tech startups in
India.
The Indian Prime Minister, Narendra Modi, has a vision that
India will become a country of job creators instead of job seekers
and the startup culture is helping make that dream a reality. Yet
Indian startups are not as mature as other businesses in dealing
with the mechanics of regulation and compliance. In our
conversations with startup founders and investors, three big themes
emerge: payroll, tax and accounting prove a challenge time
