The Startup Ecosystem of Mumbai

Mumbai has 636 startups in our sample database. This represents about 15% of India’s startups. Mumbai is the 3rd best startup ecosystem in India.

CITY RANKING

While Mumbai decreased by 8 spot in its global rank in the Global Startup Ecosystem Index of 2023, its ranking in India remained stable at 3 nationally since 2022.

National Ranking

3rd
0
In India

Regional Ranking

3rd
0
In South Asia

Global Ranking

25th
-
8
Worldwide

Ecosystem

Startup Ecosystem Overview

high-rise buildings during daytime


With a growing number of startups being created in India each year, the country is bustling with more startup energy than ever. The Mumbai startup ecosystem is playing a very important role in India’s burgeoning startup scene and is its financial capital.


The startups in the Mumbai Startup Ecosystem mostly revolve around the financial, consumer services, media and retail sector. The abundance of venture capitalists, growth funds, educational institutions and incubators has propelled Mumbai’s growth in the startup scene.


One of the success stories in Mumbai’s startup ecosystem is one Acko General Insurance, a digital insurance company with a license to underwrite and distribute bite-sized insurance products which succeeded to exceed US $1 billion in valuation. Another example is Upstox, a fintech company that allows innovative investment options for its users. These success stories are proof showcasing Mumbai`s specialization in the fintech industry.


Mumbai also houses the head offices of a number of giant corporations, which means easy access to capital and experienced professionals. The city also offers startups an interesting mix of management and engineering talent, new as well as old. Every year, the city attracts students from all over India, who choose to study in the city owing to its many cosmopolitan attractions and opportunities. The city is home to premier institutes for engineering as well as management.

Startups

Mumbai Top Startup Industries

Edtech icon
Edtech
#9 worldwide

32 startups

Fintech icon
Fintech
#12 worldwide

107 startups

Foodtech icon
Foodtech
#17 worldwide

30 startups

Ecosystem HealthCheck

Mumbai Ecosystem Health Check

The health check tables allow you to look at the performance Mumbai has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...

  • Overperformance
  • Performance equal to global ranking
  • Underperformance
ParameterParameter Global rankParameter rank change since 2022ResultContribution to total scoreRank gain / loss due to parameter
Total Score25-830.154100%0
Quantity Score2404.1113.63%1
Sample size of startups31257612.73%1
Sample size of accelerators27-285290%0
Sample size of coworking spaces11-22390%0
Community Score37-45-60.270.9%0

ECOSYSTEM

Browse the startup ecosystem database of Mumbai

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Ecosystem

The Startup Ecosystem in Mumbai

Our startup ecosystem map for Mumbai includes a sample of 636 tech companies. We have identified as unicorns 15 startups that have passed the USD 1 billion valuations. Get the Pro account for unrestricted insights on this ecosystem.

Global Rank

Mumbai is ranked within the top 30 startup ecosystems globally.

Top Industries

Mumbai’s startups excel particularly in Edtech where it ranks 9 and in Fintech, and Foodtech. Find out more

Top Cities for Startups in India - Ranked by StartupBlink
StartupBlink ranks the startup ecosystems of 100 countries and 1,000 cities. Download our latest Global Startup Ecosystem Report.
Rows:
2023 National Rank & Change ▲
2023 National Rank & Change City
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Global Rank & ChangeTotal Score
Access subscores for 1000 cities and 100 countries
Quantity Score
Quality ScoreBusiness Score
1st
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8th
0
64.232
00.00
00.00
00.00
2nd
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13th
0
44.560
00.00
00.00
00.00
3rd
0
25th
-
8
30.154
00.00
00.00
00.00
4th
0
78th
+
12
8.482
00.00
00.00
00.00
5th
0
89th
+
8
7.946
00.00
00.00
00.00
6th
0
102nd
0
7.118
00.00
00.00
00.00
7th
0
181st
+
31
3.449
00.00
00.00
00.00
8th
0
195th
+
28
3.020
00.00
00.00
00.00
9th
0
239th
+
28
2.049
00.00
00.00
00.00
10th
+
2
371st
-
7
0.930
00.00
00.00
00.00
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Startups

Notable Startups in Mumbai
PharmEasy startup icon
PharmEasy
CarTrade startup icon
CarTrade
InVideo startup icon
InVideo

Startups

Successful Edtech startups in Mumbai
Lido Learning startup icon
Lido Learning
CredAble startup icon
CredAble
Skillmatics startup icon
Skillmatics

ECOSYSTEM

Why should you join Mumbai's Startup Ecosystem?

Overview

Within Mumbai there is an increased attraction for entrepreneurs to set up their startups in industries such as Edtech, Fintech, Foodtech. These three industries represent about 27% of the startups represented on the Startup Ecosystem Map of Mumbai.

3rd

National Rank

3rd

Regional Rank

Overview

Mumbai is India's 3rd best startup ecosystem and is ranked 3rd in South Asia. With a population of undefined, Mumbai is ranked 25th in the world. The city has some notable startup success stories including PharmEasy.

Featured Startup Ecosystems

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