iSPIRT has brought out the product start-up report (Feb 2014) based on survey carried out by Sharique Hasan (Assistant Professor at Stanford's Graduate School ofBusiness),SrivardhiniK.Jha(Research Scientis with McGill Centre for Convergence of Health and Economics and Fellow at iSPIRT), and Rembrand Koning(a doctoral candidate at Stanford's Graduate School of Business). Findings:
- Over 50% of software product firms are bootstrapped.Majority invested less than a crore and valuation is generally less than 10 millionUSD.
- 40% of founders came from MNCs and the founders have a similar background & skill sets.Founders are older with 70% in 301-40 age group.
- Bangalore and Enterprise sectors dominate.