Startups growing by 30 per cent in Coimbatore

Coimbatore: A growth of 130 per cent of startups is expected in next five years from Coimbatore alone, said Paritosh Sharma, an advisor to tech startups and an entrepreneur with PayUmoney.

The mobile phone penetration in the country is close to 300 million in a year. “Corporate companies receive 50 per cent of traffic from mobile phones. Every city in the country will have infrastructure for internet connection in the next three years,” he told the DC.

He was in town to conduct a four-hour startup growth master class workshop at SIEMA building which discussed the practical ways and case studies of how start-ups have cracked the growth code without burning a lot of money. Around 105 start-ups from Coimbatore registered to attend the workshop.

Coimbatore has around 500 startups and it is growing every year by 30 per cent. “We are focused on creating sales, production building and marketing tricks for startups. We will keep repeating this workshop in every three months to build ecosystem of startups. Today, India is booming with startups,” he added.

Though 10 lakh startups in the country at present, most of them face a lot of issues including finance, marketing, sales and creating faith about their product among the clients. “We don’t need a lot of money to start a business, what we need is  brilliant ideas,” said Sharma.

PayUmoney is working closely with the local partners such as Kovai TechStart, 50K Ventures, Unitus Seed Fund and PSG STEP. Coimbatore has always been a good place for digital buyer market with the brilliant set of startups.