The startups in the country and how Bangalore plays a role!
Bangalore has been known as the silicon city for years now, as it is the hub for IT Companies in the country. Currently, the city is called the Startup capital of India. With Prime Minister Narendra Modi emphasizing on his “Make in India” project, the city has grown a few folds by housing 7000+ Startups in the country. As per a report by NASSCOM, India is the third biggest Startup hub in the world after the USA and China. We have added over 1200 Startups to the list in 2018 alone! Investment-wise the country is in a favourable position too. The report suggests 100% growth from 2017 to last year, as USD 4.3 billion was received between January to September last year.
As per the same NASSCOM report, Startups have created around 40,000 + direct job opportunities last year and around 1.6 to 1.7 lakhs of indirect jobs. Over the past few years, Bangalore has created a lot of job opportunities for people across the nation. Earlier people flocked to Bangalore for the IT opportunities available in the city. But now the city is getting famous for being the birthplace of Startups and the city is giving way to young entrepreneurs. The favourable weather, work culture and talented IT professional in the city has made it a huge hit among businesses. Even huge players in the market have shifted their operations to Bangalore. The city has witnessed an expansion of the market for both B2B and B2C Startups.
The city has been trouble free for budding entrepreneurs to avail the resources required to run a business quicker, as the market in terms of manpower and raw materials is vast in Bangalore. They have also been home to a few of the top/ successful Startups in the country. That includes companies such as Flipkart, Zoomcar, Ola, BigBasket, Myntra Swiggy, Freshmenu, Dunzo and the likes. Each of these innovative Startups is changing the world in their own ways to make it better and easier for their customers!
The IT parks in the city are in various locations like Electronic city, Whitefield, Outer Ring Road and Mysore Road. Same way Startups are also creating hubs like Koramangala, HSR, MG Road and Indiranagar.
Koramangala is known as the Startup hub in the city and is one of the best test grounds for startups. This is due to the availability of huge cosmopolitan crowd and youngsters who are open to trying new products and services. The locality is a premier location in Bangalore with easy accessibility with facilities like metro, taxis, autos and shared vehicles. The place also has popular eateries and is convenient for those new to the city with options like paying guests and coliving options. To know more read the article on “How Koramangala is the start up hub of Bangalore”.
The city is also showing a growing trend in Coworking Spaces, having around 30% of the shared office spaces in the country. This is the next big thing in the office space sector. The popular Coworking spaces in the city are BHIVE Workspace, WeWork, Awfis, 91 Springboard, Cowrks and Regus.
Cities like Mumbai, Hyderabad and Delhi are part of the race too. They come right after Bangalore in popularity for Startups and Coworking Spaces in the country.
The largest co-working space in Bangalore, constantly trying to provide flexible and creative workspace solutions to all.