mumbai about half of the startups dealt in innovative products and over 20 per cent had filed patents for their products a survey by the reserve bank of india based on responses from 1246 startups has foundthe pilot survey on the indian startup sector was conducted from november 2018 to april 2019 around threefourths of respondents were from the states of karnataka maharashtra telangana delhi and tamil nadustartups in six sectors agriculture data and analytics education health it consultingsolution and manufacturing accounted for nearly 50 per cent of the survey respondentsthe annual turnover for over onefourth of the respondents was up to rs 10 lakh whereas around 20 per cent of startups did not report any revenue generation less than onefifth of the respondents reported that their turnover exceeded rs 1 crore the survey revealedonly 14 per cent of startups had more than 10 employees in the first six months of their operation but as the sector matured the share increased to 40 per cent at the time of conducting the surveyalso around 36 per cent of the startups availed institutional loans including from banks to finance their activitiesas per the survey findings over 70 per cent of the participating startups were set up in the last three years 201617 to 201819further nearly 88 per cent of the founders had an academic qualification of at least a bachelors degree over 10 per cent of the founders were below 25 years of age and another 55 per cent were in the age group 25 to 40 yearsthe survey also said almost a half 49 per cent of the respondents informed that they were in the early stage of revenue generation while another 31 per cent were in the growing stageof the remaining startups which were yet to generate any revenue as high as 86 per cent were aged below three years it saidalso almost 58 per cent of the startups had plans to get listed on the indian stock exchanges in the next five years it addedparticipants reported marketindustry demand and team experience as the most important factors for setting up the startups the rbi saidfuture plans of the startups included hiring staff for supporting business expansion getting listed on the indian stock exchanges and seeking acquisition among othersonly 14 per cent of startups had more than 10 employees in the first six months of their operation but as the sector matured the share increased to 40 per cent at the time of conducting the survey revealed the survey findingsmost of the startups had at least two cofounders