The latest study on start-ups by Assocham has projected that, India’s start-ups are geared-up with financial services, e-commerce and other technology-driven fields creating the maximum interest; India is likely to generate at least dozen more billionaires and many more millionaires by 2020.

The paper revealed that the country will be among the top Asian start-ups along with the South East and Chinese countries. Unlike China, India doesn’t have any structural problems which would cause the roadblock for the startups.

It said the maximum value creation is anticipated in the fledgling e-commerce, music-entertainment, payment gateways and city transport aggregators like radio taxis. The travel arena, especially in the ticketing and booking has already gained some level of maturity.

Within the e-commerce space, many more categories beyond fashion, groceries, and electronic items such as mobile phones are expected to be created. The untapped areas for online business such as medical consultations (with fool-proof safety features), e-coaching, and social networking in the cities, while in the rural landscape, the initiative is going to be led by the state sector.

D S Rawat, secretary general of Assocham said, “Even though there are question marks on the kind of valuations some of the start-ups command, at least in India, we do not see any bubble-like situation and the interest from the angel investors is expected to continue.”

According to the study, even though market watchdog Sebi is putting in place a friendly regime for start-ups to raise finance from the bourses, it would take some time before funds are raised through this channel.

The study noted that the presence of angel investors such as Azim Premji, Ratan Tata, N R Narayan Murthy would surely have a moral pressure among the businesspersons focusing on the long haul and prove their mettle rather than exit in short term after making quick bucks.