The FinTech industry has always been in the eyes of VCs and investors. The already established FinTech players have started taking major steps in order to engage with emerging technologies. Cloud technology and open-source software have lowered the entry level barriers, thereby causing a rapid increase in the establishment of new startups. This revolution in technology and innovation is engaging investors with the FinTech Industry. In addition, the emerging and evergreen FinTech sectors like lending, bitcoin, mPOS and cloud-based financial services are majorly attracting investors.
The world's economy has always been dependent on startups and innovative business ideas, but what does the current landscape look like and who are the driving forces behind today's entrepreneurial race?
The data from 38 trusted sources uncovered interesting facts about dynamics of today's entrepreneurial activities around the world. While the United States keep a top position in number of startups (4.8 million), a huge growth is being observed in emerging countries like India and Brazil where the number of startups has currently reached 2 million or 584,000, respectively. The most interestingly, Uganda has been ranked as the most entrepreneurial country in the world considering that 28.1% of its adult population is involved in the entrepreneurial activities.
What about a government support for startup initiatives? To mention some, Israel hopes to make their country more viable by pumping $450 million in to seed funding and research & development and startups in Chile can apply for a $40,000 equity free grant. Besides domestic citizens, the governments try to attract foreigners with entrepreneurial intentions by issuing lucrative grant schemes and startup visas.