Here are some ideal cities for starting up in India.
New Delhi- Oct 17, 2016. Rednewswire/-
With the startup ecosystem all heating up in India, many people are planning to step into the domain too. Most people’s first choice would be to launch the startup in their hometown. But this is not always a good idea. You have to consider the location very efficiently analyzing all its boons and banes if you wish your startup to expand and prosper. Startups are most likely to be successful in cities that have developing infrastructure, a growing domestic market, favorable funding and a pool of talented human resource.
These cities meet all the necessary criteria for launching a startup in India
The capital city has always been a great choice for businesses equivalent to North India. An entrepreneur can expect an ocean of activity in Delhi NCR. The city has a great telecommunication system, tourism industry and mass media. It is a hub of startup meetings and conferences. Hence it provides a plenty of opportunities for budding entrepreneurs who desire to build their own business.
Delhi is most importantly, the heart of e-commerce startups. Some great examples are Snapdeal, Healthkart and Paytm. This proves that Delhi offers a rich e-commerce startup platform. The city also possesses a high concentration of technology startups. Hike messenger and Zomato are two startup companies which have shown tremendous progress. Plus, the city has a brilliant founder-investor relationship which is the biggest reason behind the amazing success rate of startups in Delhi. According to tracxn, Delhi NCR bagged the biggest funding in India with $917 million out of the total $1.8 billion India was allotted.
Bengaluru is the country’s biggest IT service provider. IT giants like Infosys and Wipro are headquartered in the city. This means that the city is a great source of engineering and analytical talent which is crucial for any startup. The city was once reported to have a 13 percent higher influx of technical talent in comparison to the original Silicon Valley. Highly successful companies like Flipkart and Ola have also convinced many startups that this city is a great choice to begin or expand your business.
Many companies who were originally located elsewhere have now moved to Bengaluru owing to its attractive startup arena. These include Local Oye which moved from Mumbai to Bengaluru as the latter provided talented mentors. Besides, Bengaluru also has an inexpensive real estate which makes survival of a startup much easier. Moreover, the city has excellent weather, a good social life which contribute to a great startup experience in Bengaluru.
Mumbai is the most populated city in India hence an entrepreneur can expect vast human resource and good number of customers. The city is titled as the financial capital of India with organisation like State Bank of India and Reserve Bank of India operating there. The city is a great choice for entrepreneurs seeking huge investors. Kaalari Capital has funded two startups namely, Haptik and Crowd Fire. with $1 million and $2.5 million respectively. The city has witnessed major success stories with startups like Cleartrip, Ola and Quickr prospering.
Powai valley is known as startup hub of the city with a large concentration of IIT Mumbai talent feeding the area with new and promising startups. Because of the high standard of education, IIT Mumbai has foreseen may of its alumni succeeding in the startup orbit. This includes founders of Ola, Housing.com and Tiny Owl.
Other cities like Chennai, Pune, Ahemdabad and Hyderabad are also ideal for launching a startup. These cities are proved to be good alternatives when in some instances startups in Bangalore, Delhi and Mumbai backed away in order to find better economical zones. This resulted in a large pool of startups in Chennai and Hyderabad. Chennai has some extremely academic talent and Hyderabad has good infrastructure. These cities may soon witness their own startup orbit.