While Bangalore (now Bengaluru) has earned many names, from Indian Silicon Valley to the Garden City of India, recently it’s being widely referred to as the Startup Capital of India. For decades, Bangalore has been the information technology hub of India and now the city is offering the ideal startup ecosystem attracting a massive number of professionals who’re willing to start their entrepreneurial journey.
This rapid rise in entrepreneurship has eventually given a solid boost to the coworking culture of Bangalore. But before you start searching for coworking spaces in Bangalore for startups, let’s take a look at the key reasons why the city is being called a “Startup Heaven”.
Why Bangalore is the best place for startups to grow
A large number of investors
Funding is crucial and fundamental for the successful launch of any startup. In Bangalore, you can get comparatively easy access to a large density of angel investors and venture capitalists. Harvard Business Review once revealed that if you build your startup in Silicon Valley, it lowers your lead-time for raising funds and increases your chances of success. To a good extent, this logic applies to Bangalore as well. Lots of investors are being attracted to the city due to the early success of startups operating from here. Being in Bangalore will increase your chances of showcasing your startup and having in-person meetings with potential investors. If you’ve got a great idea, the right mindset, motivation, and vision for your startup, you won’t have to wait for long to meet your guardian angel in this city.
A robust pool of qualified professionals
Bangalore has an abundance of highly-qualified professionals who can offer their quality services required for startups to thrive. Many of these professionals are well-versed in cutting-edge technologies such as digital security and data analytics. These fields aren’t only recognized by industry-leading companies but are also essential for startups that plan to churn out advanced and innovative products and/or services.
In Bangalore, a wide range of hackathons, meetups, and other startup-friendly events are conducted throughout the year. These events immensely help budding startups to connect with their respective community, collaborate with like-minded professionals, obtain inspiration and ideas from leaders of the same industry, and showcase their ideas.
The perfect launchpad
Last year, the Karnataka ICT Group 2020 had asked for a fund of Rs. 1,000-crore to promote infrastructure development along with an additional Rs. 100-crore to be set aside for incubating startups and new IT companies. This will eventually give birth to a significant number of more startups.
In addition to these, it’s important for any startup to start operating from a city where the cost of living is relatively low. And in Bangalore, it’s still considerably lower than major cities like Delhi and Mumbai.
As you can see above, Bangalore lives up to its status in many ways. This becomes even more evident when you take a look at the long list of highly-successful companies that started their entrepreneurial journey from the city. There’s no shortage of success stories of entrepreneurs who’ve gone down the same road and today have become the motivation for startups like you to begin a venture. If you’re still thinking about it, perhaps it’s the best time to move your startup to Bangalore.