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Bangalore Emerging As A Hub for Global Start-ups

From Bay Area in California to Koramangala in Bangalore may be a paradigm change for many, but the IT City is once again taking the lead to become the emerging destination for global start-ups.

Published: 11th August 2014 06:00 AM  |   Last Updated: 11th August 2014 07:47 AM   |  A+A-

BANGALORE: From Bay Area in California to Koramangala in Bangalore may be a paradigm change for many, but the IT City is once again taking the lead to become the emerging destination for global start-ups. It is the preferred platform for start-ups with strong IT services, a huge talent pool of engineers with global work experience, and active angel investments.

On an average, nearly 8-10 start-up hubs are set up in Bangalore every month. So, it has more than 625 start-ups followed by Delhi and Mumbai.

According to Indian Start-ups Report, Bangalore also leads in the number of deals being signed raising millions of dollars.

According to the World Start-up Report 2014 on India, 41 per cent of start-ups are based in Bangalore with 33 per cent of them focusing on e-commerce.

Recent success of peers like Zoho, Inmobi and Zomato are proofs for the fact that Indian start-ups can scale globally.

Even smaller ones like Visualweboptimizer, Wingify and Fusion Charts are showing great promise in the international arena, Shashank N D, CEO and Co-founder of Practo Technologies, said.

Bangalore provides a wider variety of support services ranging from peer groups like Open Coffee Club and HeadStart, accelerators (Microsoft, Target, Kyron, GinServ), incubators (IIMB, Nasscom 10K start-ups, IIITB) to entrepreneur support organisations such as TiE, which provide a host of services. Further, angel groups, professional mentoring groups, shared working space and even founder matching services are available in Bangalore.

Dr K Srikrishna, Executive Director, National Entrepreneurship Network (NEN) said, “Bangalore is one of the most exciting start-up environments globally in terms of its sheer energy, passion and volume of startup activity. However, it is still quite far from Silicon Valley or the start-up milieu in Israel, Seattle or even Europe. The primary reason holding Bangalore back is that we are still very early in our life cycle with very few embarking on their second start-ups now - whereas in other markets, easily 4-5 cycles/generations of start-ups, have happened, providing greater depth, maturity, expertise to the entire playing field. “

Shashank added, “We were benefited by networking meet-ups like Open Coffee Club and events by NEN. We had a good network of startup friends from these events. Since Bangalore has a high number of IT companies already existing, good engineering talent is not very difficult to find. Lastly, Bangaloreans are open to technology and start-ups and welcomed us with open arms.”

An angel investor elaborated, “With Bay Area proving to be costly and unviable, many are now looking towards Bangalore for their start-ups. Further, Koramangala is emerging as a support system for nurturing small companies to achieve a global status. Recently, the UK India Business Centre set up a start-up zone here reflecting Koramangala’s status as the new startup hub. Run by a team of advisers, the centre will provide market entry support to start-ups and offer events, knowledge and policy insight into the market for their members.”

National Entrepreneurship Network

The National Entrepreneurship Network (NEN), the flagship initiative of the Wadhwani Foundation has matched over 600 entrepreneurs in the last three years with mentors. Last year, they launched a women focused Dream to Destination (D2D) programme that has helped nearly 100 women entrepreneurs connect with appropriate mentors. Similarly, the NEN-SAP emerging entrepreneur programme has matched over a 100 entrepreneurs with mentors.



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