STARTUP HUB OF INDIA
Do you know which place in India is often compared to San Francisco? Yes, it is Bangalore. Two main things that the capital city of Karnataka and the North Californian city have in common are the pleasant climatic conditions and an environment that caters to the business startups.
The startup ecosystem is primarily based on and is driven by metropolitan cities that have an urban lifestyle. Although cities like Pune, Delhi, Gurgaon, Mumbai, Indore, and Chennai also have many start-ups in diverse fields mushrooming, Karnataka, especially Bangalore, is spearheading the startup growth in India.
Still unsure why Bangalore, Karnataka is the startup hub of India? Here are the top reasons!
- Pool of talent in multiple fields
Karnataka is one of the few states in India that has a large number of colleges and universities. Furthermore, many students from various other places prefer to move to Karnataka for their undergraduate and postgraduate studies.
In fact, Karnataka is an educational center, by itself, with 18 state universities, 15 deemed universities, 180+ engineering colleges, and few hundreds of general degree colleges.
Karnataka also has some of the most premier educational and research institutions such as the Indian Institute of Technology — Dharwad, the Indian Institute of Science — Bangalore, the Indian Institute of Management — Bangalore, the National Institute of Technology — Karnataka, and the National Law School of India University.
Therefore, the number of human resource available is steadily increasing. Not only is the state flooded with aspiring entrepreneurs, but it is also filled with students, who want to take up internships in various fields, and talented individuals, who prefer working in a startup culture.
- Investors’ interest in startups
Apart from hi-quality talent, Bangalore has a lot of investors and mentorship support. When it comes to Venture Capital investments, Bangalore stands second in the world with a four-fold increase in growth.
According to the Global Startup Ecosystem Ranking, 2015, Bangalore is at the 6th position internationally in terms of start-up funding. Likewise, in seed funding growth, Bangalore is the fastest with a 53% increase in the past two years.
In simple terms, Bangalore is well-placed as far as funding is concerned. What’s more, even the other cities of Karnataka like Mysore, Hubli, Dharwad, etc. are also joining the startup culture actively.
- Numerous startup incubators
As we all know, business incubators are companies that help startups by providing services such as mentoring, seed funding, training, and provision of office space. The incubators are primarily dedicated to startups and early-stage companies.
Bangalore has numerous incubators that help startups build a strong business plan and connect them to industry mentors. Moreover, some startup incubators, like The Syndicate, provide legal support to the startups.
Karnataka, especially Bangalore, has a lot of coworking spaces that provide a complete office setup with the internet, workstations, and café, etc., which is very beneficial to the startup companies.
- Cosmopolitan lifestyle
One of the major things that contribute to run a successful startup is the lifestyle and culture of the business’s location. Cities in Karnataka like Mysore, Bangalore, etc. have a cosmopolitan lifestyle. To start with, the global and national official languages, English and Hindi, are prevalently spoken across the cities.
Secondly, most co-working spaces are open 24×7, so it is easier for startups to function without any hindrance. From an entertainment point, the city has an active nightlife, numerous restaurants, adventure activities, coffeehouses, malls, etc., which interests the young working population of the city.
Furthermore, since people from various states in India migrate to Bangalore for studies or job, lifestyle in the city is multi-ethnic and multi-cultural. The cosmopolitan culture of the city makes it a home away from home for all those who migrate.
- Good infrastructure and facilities
The region in and around Bangalore — Mysore is known for the hi-quality educational institutions, incredible infrastructure, and well-connected transport system. These facilities make Karnataka a suitable environment for aspiring entrepreneurs to start their new businesses.
Due to Bangalore’s pleasant weather, fascinating infrastructure, and well-developed facilities, even the Indian government has invested a lot in creating and running research and development centres in and around Bangalore. In fact, Bangalore is the headquarters for many government-run R&D institutions, like National Aerospace Labs, Hindustan Aeronautics Limited, Indian Space Research Organization, Bharat Electronics, etc.
Finally, the city has an impressive metro rail system that connects almost all the major localities. Bangalore is also reachable via roadways, railways, and airways from other cities like Chennai, Hyderabad, Mumbai, etc.
So, if you are looking to start your new business, then Karnataka, especially Bangalore or Mysore, is an ideal destination for your new startup.