7 reasons why Bangalore is called the startup capital of India
It is not an easy decision to find out the right location for your startup. You should be able to connect with the right people, hire skilled and talented employees, and get support from the government and your community to effectively enable the entrepreneurship development in the city. Bangalore, also known as “Silicon Valley”, is the only place in India you can find this perfect startup ecosystem. India’s youth population is the largest in the world. As per Bloomberg News analysis, “India is likely to have the world’s largest workforce by 2027, with a billion people aged between 15 and 64.”
Why Bangalore for startups?
Bangalore hosts its own Startup Weekend to highlight local area startups. The city has the best entrepreneurial ecosystem and financial environment to start and grow a business. Moreover, the metropolitan city has a lot of networking opportunities that foster the growth of startups in the area and thus makes Bangalore a “Startup Heaven”.
Furthermore, co-working spaces in Bangalore are also supporting the rapid outgrowth of startup hubs in India by offering a wide range of facilities to satisfy the needs of its clients. The co-working spaces provide a platform for all the independent workers to communicate, collaborate and to work together with an aim to increase their creativity, productivity, and efficiency. Thus, by providing a networking platform, it enables all the startups, freelancers and emerging businesses to succeed by aiding one another.
There is a number of places like Koramangala, MG Road, Jayanagar and Indira Nagar in Bangalore that boasts of many budding startups.
1. High Density of Investors
For launching any startup, funding is fundamental and critical. In Bangalore, there is relatively easy access to a large number of venture capitalists and angel investors. You need to have a great idea, the right state of mind, vision, motivation and right direction for your startup, and it won’t take you long to find your guardian angel here.
Besides, the entrepreneurs can also apply to the Karnataka Government for funds provided they register their companies under the Karnataka Shops and Commercial Establishment Act, 1961.
The Karnataka government launched the startup policy in 2015 and has set up several funds with a corpus of over Rs. 300 crores to back startups across different sectors such as biotechnology, tourism, and animation.
2. Amazing Infrastructure
A well-planned infrastructure is always needed for faster economic growth. In order to expand their business one requires having adequate infrastructure in the form of roads, railway transport system, ports, power, and airports.
A planned infrastructure-from better road to faster broadband – is essential to give startups the confidence to grow, as it is necessary for businesses to deliver employment, growth and national prosperity.
Bangalore is one of the top ranking cities in India that offers a highly developed infrastructure for startups to launch and is positioned number 84 globally among developed urban areas.
3. Cost of Living
Founding a startup in a cosmopolitan city where the cost of living remains low is always the preference of startup founders. In Bangalore, the cost of living still remains low compared to its big-city counterparts like Mumbai and Delhi.
4. Technocratic Power
Bangalore city, home to between 1,800 and 2,300 active startups, has a majority of young, hardworking tech talent available compared to other startup hubs.
Every day, Bangalore sees a huge influx of talent from all parts of the country making most of the talent available here.
5. Meetups and Technical Events
Bangalore is the city that organizes a wide range of meetups, hackathons and many other events every year. This fact contributes to one of the biggest reasons why the city is a heaven for startups.
These events enable budding entrepreneurs to mingle with the community, get a chance to share their experiences of overcoming the challenges and achieving the goals.
They also get ideas and inspiration from speakers and other attendees, showcase their ideas, products, and potential and thus get to connect with each other.
We all know that weather strongly influences our mood and also affect productivity, concentration, and efficiency, so we always prefer to work at a location where we can find a calm, soothing and pleasant weather.
That is why most of the people launch their startups in the city of Bangalore as the city has the best weather unlike the other cosmopolitan cities.
There is a number of Media platforms like NextBigWhat, ET Tech, Yourstory and Medianama that are present in the city that focuses on startups and entrepreneurs. If you’ve got a great idea to offer and a good state of mind and vision, then be sure that exposure, coverage, and networking are all yours.
These are some of the reasons for many to choose Bangalore as their dream startup location. It has the perfect atmosphere to start a company and make it grow. Today there are many renowned companies in Bangalore that were budding startups around 5 years ago. So, if you have a unique idea to offer and if you are thinking of having your own startup then there is no better place to consider than Bangalore.
The Best Co-working Space In Bangalore – Book Now!