NAMMA BENGALURU hosts 28% of all start-ups in country
Currently, India has 3,100 start-ups and 868 of them are-based at Bangalore
13% of the founders are those who have no prior work experience
Nasscom has predicted that by 2020, India will have 11, 500 start-ups that will potentially employ 2.5 lakh people and Bengaluru contributes to 28% of the start-up ecosystem in India and most startups in Bengaluru are in the field of e-commerce, big data and analytics, enterprise resource planning and productivity and collaboration.
Currently, India has 3,100 start-ups and 868 of them are Bengaluru-based.
About 64% of these are led by non-engineers.
Start-ups in Bengaluru do very well because of various favourable conditions, resources and another factor that gives the city its advantage is its huge skill base. The start-up ecosystem in Bengaluru has been growing and the momentum has been maintained in the city and offers a varied audience to support diverse start-ups. One of the Startup founder said that Bengaluru has a mixed populace and the most niche start-up can easily find a target audience here. The diversity and a growing migrant population is the most attractive factor in Bengaluru.
The government of Karnataka’s Department of Information Technology, Biotechnology and Science & Technology, (IT, BT and S&T) has offered tremendous support with its numerous initiatives. Examples of these are the 10,000 Start-up Initiative — which aimed at having 10,000 startups by 2023 and the New Age Incubators to promote student startups.
Engineers combine technical knowledge with their creative side to come up with some unique and experimental ideas for start-ups. Around 36 per cent founders of start-ups in Bengaluru are engineers. Around 62 percent of startup founders in Bengaluru have a prior technical background.
Bengaluru is attracting investments from many countries and major software companies have research and development centers here and these companies either help in accelerating the startup through mentorship or funding the entrepreneurs.