Bengaluru, the modern metropolitan city of India, is all about multicultural identities, delicious food and perhaps the best weather! And for us, this “Silicon Valley of India” is the city of dreams of a thousand and more hearts, beating to the tunes of changing life as we live it. So here’s 5 reasons why anyone who aspires to be an entrepreneur must take their first step in Bengaluru…
1) Raise capital easily:
Almost 30 of the 80 most active Venture Capital firms and Private Equity firms are based in Bengaluru. That almost accounts for more than 35% of the entire VC’s in the country. In fact, a whopping total of $2.256 billion of venture capital investment was made in Bangalore in the last 1 year. The city is also home to some fantastic investors who love checking out new ideas and technologies.
2) Easy Beginnings :
The seed capital required to set up an establishment in Bangalore is low when compared to the other major cities in India. The cost of renting commercial spaces is moderately cheaper in Bangalore. Also, due to the huge number of engineering colleges based in and around the city, hiring skilled Engineers at lesser annual average packages is not really a problem. Moreover, talented Engineers from all over the country come to Bangalore in search of better employment opportunities.
So you get to build an awesome team at an awesome place by not really shelling out a lot of money.
As a matter of fact, many startups like Ola and Inmobi have been in the news for having moved their bases to Bangalore in search of better talent.
3) Amazing Startup Culture:
Other than the cosmopolitan culture, the city turns out to give great mentorship vibes as it is known to be home for some of the best mentors in the ecosystem. Apart from that, Bengaluru lives by the motto ‘Technology comes first’ and this attitude has motivated these startups to be leaders in their respective categories. Also, this has contributed to Bengaluru having the highest number of homegrown unicorns in India. (Trivia-A unicorn is a startup valued at over 1 billion).
4) Get maximum Exposure – Land of Opportunities:
With so many startups existing here, you get exposed to some of the hottest products and ideas that can change the way the world works. Also, some well-known media, blog publishers like ‘Your Story’ are based in Bengaluru. The city also has groups that meet up regularly as well as conduct events and competitions related to startups. This way you can magnify your network and at the end of the day, find opportunities and probable clients knocking your door.
5) Ranking of Bengaluru:
Still don’t believe us? But numbers don’t lie! Bengaluru is the 2nd fastest growing startup ecosystem in the world (source: San Francisco-based Compass- A research-based firm that provides global benchmarking tools). These rankings are given on factors such as the performance of startups in that city, funding, market reach, talent and their growth index when compared to the previous year.
So from funding to talent, from mentorship to opportunities, Bengaluru has it all. This is where business tycoons like Azeem Premji and Narayan Murthy began their journey; this is where you must begin yours! Tell us below what you love most about Bengaluru.