StartUp Hub Bangalore
India, the world’s 5th largest startup ecosystem, is also the youngest with 72% of all Indian entrepreneurs being under 35 years of age. Of the 4200 startups in India, 28% of them are based in Bangalore. In June 2016, more than 1700 startups were registered in this buzzing tech hub that also had the most startup funding in India in 2014.
Tech Capital ever since
But Bangalore was a tech capital long before the advent of the internet and web-based companies. The first Indian Institute of Science was set up here more than 100 years ago and has since made significant contributions within the spheres of advanced computing, space and nuclear technologies. On top of that, its technology, knowledge-based economy, and a growing influx of students and job-seekers, along with many accredited colleges offering engineering and MBA courses, have also given it the tag of an emerging educational hub. Accordingly, Bangalore has a huge talent pool, with a special focus on IT.
Bangalore is often dubbed as the Silicon Valley of India due to its large amount of startups, incredible growth of the middle class and the education excellence in IT. The focus lies on e-commerce, health tech and food tech but other important areas of interest range from energy, mobility and software to frugal and social innovation. Some of the most successful startups are Flipkart, Zipdial or Ola. Many startups like to work in the many coworking spaces, like BHive Workspace, Cowork India or Hustle Cowork.
The UK Indian Business Council has made massive investments in the area, setting up a full suite of support services including mentoring, policy insight, training, expertise in market entry, networking events and market research. This support is primed to nurture small businesses and help them develop to reach their global potential. The UK has also co-funded new ventures in cooperation with the State through the KITVEN Fund. Other incubators, e.g. WalmartLabs, Microsoft Accelerator or kyron, angels and VCs, such as Accel Partners, Sequoia or Blume Ventures, are following suit by swarming to the city looking for prime investments.