Nearly 50% startups dealt in innovative products: RBI

About half of the startups dealt in innovative products and over 20 per cent had filed patents for their products, a survey by the Reserve Bank of India based on responses from 1,246 startups has found.

The pilot survey on the Indian startup sector was conducted from November 2018 to April 2019. Around three-fourths of respondents were from the states of Karnataka, Maharashtra, Telangana, Delhi and Tamil Nadu.

Startups in six sectors — agriculture, data and analytics, education, health, IT consulting/solution and manufacturing — accounted for nearly 50 per cent of the survey respondents.

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