India is the fourth-largest startup hub in the world with more then 3,100 startups.
Bengaluru is traditionally home to the Indian headquarters of many global technology companies. Driven by its large talent pool, Bengaluru is also the number one hotspot for Indian entrepreneurs to start and scale their company. Bengaluru thrives on a high cost efficiency for engineers. For instance, salaries are about 13 times cheaper than in the Bay Area and 4 times cheaper than the average salary across Asia-Pacific. However, it’s not cost benefits that capture Bengaluru’s key competitive advantage, it’s its engineering prowess. 94% of Bengaluru-based founders have a technical background, the highest rate in the world. The ecosystem has been maturing, led by Unicorns like Flipkart, Inmobi and Ola.
Bengaluru is home to an estimated 50% of all IoT startups in India.
“Bengaluru, being an academic city with a large number of technical institutions and R&D laboratories is an ideal place for technical collaboration in developing and upgrading new products and processes. This presents a unique opportunity for the founders to succeed in the Advanced Manufacturing and Robotics space”
Vinod Shankar Chief Operating Officer at Global Incubation Services
Bengaluru is the Silicon Valley of the country. Engineers combine technical knowledge with their creative side to come up with some unique and experimental ideas for start-ups. Bengaluru is attracting investments from many countries including Japan and China. Bengaluru’s wide availability of talent, thriving ecosystem of investors, easy access to industry experts and the presence of startup accelerators are some of the factors that have contributed towards Bengaluru’s dominance.
Also, most of the major software companies have research centres here. The MNCs either help in accelerating the startup through mentorship or funding the entrepreneurs.