Bengaluru which was called at one point in time garden city and pensioners' paradise soon won the title of Silicon Valley of India and now it is again morphing itself into Start-Ups hub.
Bengaluru has risen four places in the latest Global Startup Ecosystem Ranking report submitted by a San Francisco-based research company named Compass. Venture capital funds also favoured Bengaluru over most other cities.
Melting pot of cultures:
Some inherent strengths that Bengaluru possesses are it houses many public sector undertaking like ISRO, HAL, BEL, and many more since many a decades. Bengaluru also houses IISc, IIMB, NID and many such organisations of national and international repute.
These units ensured that Bengaluru became melting pot of different cultures as people from various states of India started migrating to Bengaluru in search of work.
People from across the globe started making Bengaluru their home once IT giants set up their offices here.
Bengaluru definitely has exceedingly technology savvy people. So for all those who want to start up a new technology company would want to start it in Bengaluru.
Also there already exists an ecosystem of vendors who provide related services. This makes life simple for a new entrepreneur.
As per one article published it is said that hiring software engineers is much cheaper in Bangalore, with an average annual salary of $23,500 (Rs. 15 lakh), compared with $118,000 in the Valley. Employees in Bangalore also get much less equity at just 7 percent. That compares with an average of 23 percent for the region.
Facilities to hone skills:
A new entrepreneur may want to hone some skills before setting up a company. For that purpose also Bengaluru is an excellent location as one can hone any skill whether it is accounting or marketing. If not that a new entrepreneur will always get to meet many entrepreneurs who will have success and failure stories to share.
Bengaluru also houses several research and development centers for many firms such as ABB, Airbus, Bosch, Boeing, GE, GM, Google, Microsoft, Mercedes-Benz, Nokia, Oracle, Philips, Shell, Toyota and Tyco.
Bengaluru houses many enterprising people who would be more than willing to try out a new product or service or a substitute. This makes it very easy for a new entrepreneur to promote his product or service.
For all those who want to build associations so as to become successful entrepreneur, Bengaluru is one of the most favoured destination. The city provides ample opportunities through formal and casual events in the city to meet like-minded people.
Bengaluru is well connected with all the major cities within India and abroad. Also there are various means available to commute within the city.
Places to party and socialise:
All work and no play makes Jack a dull boy. So why should new entrepreneurs not party? Bengaluru provides numerous options for party goers to relax and also socialise among peers which can come in very handy for new entrepreneur. Who would not want word of mouth publicity of new business?