Due to its position as the country’s primary centre for the IT industry, Bangalore has long been referred to as the “silicon city.” The name of the city at the moment is India’s Startup Capital. According to a NASSCOM survey, India is the third-largest startup hotspot in the world after the US and China.
Just in 2018, more than 1200 new startups have been added to the list. The nation is also well-positioned in terms of investments. The analysis indicates that there was a 100% rise between 2017 and 2016, with USD 4.3 billion flowing in between January and September of that prior year. The state of Karnataka’s capital is located in one of the biggest cities in the nation.
Aspiring business entrepreneurs have no trouble getting the resources they need to get started because Bangalore has a sizable market for labourers and raw supplies. Additionally, some of the best and most successful startups in the country have been housed there.
Businesses like Flipkart, Swiggy, Zoomcar, Ola, BigBasket, Myntra, Freshmenu, Dunzo, and others are included in that. These innovative firms are all changing the world in their own special ways to make their customers’ lives better and easier.
In this article, we will talk about a few reasons why Bangalore is still one of the hot startups destinations in India.
01- An Abundance of Investors
To get started, any business needs financing, which is crucial. There are a lot of attainable angel and venture capitalists in Bangalore, India. You’ll find your guardian angel here soon if you have a fantastic idea, the best attitude, vision, excitement, and direction for your startup.
Entrepreneurs are eligible to submit funding requests to the Karnataka government if they register their company in compliance with the Karnataka Shops and Commercial Establishment Act of 1961.
In order to support companies in a variety of sectors, such as biotechnology, tourism, and animation, the Karnataka government established a number of funds with a total capital of more than Rs. 300 crores and introduced the startup policy in 2015.
02- The Technocracy
Due to the high concentration of IT businesses there, Bangalore has already solidified its status as India’s Silicon Valley. It is a location to keep an eye out for great tech skills and creative ideas, which are often essential for most firms to have a strong tech foundation.
Bangalore has mastered the current scaling-up tactics, which are only possible with the aid of leveraging technology. This explains the higher likelihood of unicorn status for businesses situated in Bangalore.
3- Exceptional Infrastructure
For speedier economic expansion, a well-organized infrastructure is always necessary. Adequate infrastructure, such as ports, airports, railways, and highways, is required if one wishes to expand their firm.
For businesses to create jobs, advance the economy, and promote national wealth, a planned infrastructure, ranging from better roads to faster broadband, is essential. Bangalore, one of India’s top cities and the 84th most developed city in the world, has a strong infrastructure that makes it possible for new firms to flourish.
4- Get-togethers and Technological Events
The meetings, hackathons, and other activities that occur the most frequently all take place in Bangalore. This characteristic is largely responsible for the city’s reputation as a startup hotspot.
These gatherings give forward-thinking businesses the chance to network with communities and share their tales of triumph over adversity. They take inspiration and ideas from the speakers and other participants as they engage in conversation while exhibiting their concepts, products, and potential.
5- The Living Expenses
A booming real estate market and a growing service sector enable businesses, including startups and corporations, to prosper. The Metro Bengaluru Municipal Corporation (BBMP) additionally provides residents with free water, consistent energy, and a well-connected transit system.
Behind Delhi, Mumbai, Chennai, Kolkata, and other cities, Bengaluru has the sixth-highest concentration of Fortune 500 companies worldwide. The average monthly spending in Bengaluru can also contribute to the high standard of life in the affluent areas.
6- The Unicorns
The unicorn to startup ratio is the easiest way to tell how an organisation, a set of organisations, or other elements manage a company when the substantial number of startups is high. Due to the fact that more than 30 of India’s 100 unicorns were born in Bangalore, it stands out more than any other city.
Some of the well-known unicorns that have come out of Bangalore include BYJU’s, Swiggy, Razorpay, Blackbuck, MPL, Cred, Meesho, Cure.fit, etc. When the aforementioned aspects are taken into consideration, the designer must exercise a great deal of creativity to obtain the appropriate workforce, skilled labour, fantastic upscaling opportunities, and support in the suitable way.
7- Power Via Technology
Bangalore City has a higher concentration of youthful, motivated IT talent than other startup clusters due to its 1,800 to 2,300 active firms. Due to the massive inflow of talent that occurs daily from all across the country, Bangalore is the place where the majority of the country’s talent is found.
In order to help startups and small businesses establish a strong brand presence, PR agencies in Bangalore are committed to offering top-notch PR solutions. These solutions enable startups to establish unique positions in their markets and maintain an upper hand.
The brand’s market visibility and expansion are aided by their innovative content creation and goal-oriented PR efforts. Business owners in the intensely competitive construction sector should think carefully about the advantages of hiring a seasoned public relations firm to help them stand out from the competition.
A PR agency can help your company increase its projects, clients, and overall brand awareness. The majority of the time, contractors are preoccupied with finishing construction projects for their clients, leaving little time for them to think about how to improve the standing of their business or get attention for a noteworthy project.