Why Bengaluru is becoming Hub of Start-Ups?
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.
Skilled labour:
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.
Cheap labour:
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.
Buyers:
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.
Building associations:
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.
Connectivity:
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?