An indian startup ecosystem can begin with two places only, either academic campuses or campuses. Our Prime Minister, Mr. Narendra Modi began the Indian startup campaign in India. After which many restrictions have been removed like licenses and land permissions. Furthermore, the government has started initiatives like iMADE which is a financial app with MUDRA bank.
In recent years Indian startup ecosystem has become a hub for cutting-edge technology and innovation. Being the world’s 7th largest economy, it has the 3rd largest purchasing power parity. Several global enterprises are running towards India to capture this diverse market.
Unlike China or other countries, India has the advantage as a majority of the current generation is youth, i.e., under 35 years of age. Additionally, success of Indian startup ecosystem campaigns are encouraging people from abroad to come back to India and do something which they always love. Sources reveal that 100 high profile executives returned from the USA to start businesses of their own.
60-70% of the Indian startup ecosystem can be seen in metro cities like Mumbai, Delhi, and Bangalore. By the end of 2015, the estimated funding has reached around $5 billion. As compared to previous times, starting a company has never been so easy in India. Many cities have their own focus area. Hyderabad has 8% of consumer services and software. Pune is well known for e-commerce and Chennai for enterprise software.
Nandan Nilekani, first chariman of UIDAI and co-founder of Infosys said that today businesses and consumers will be data rich first rather than economically rich. Nitin Gadkari, the Union Minister of roads said that the majority of investment opportunity for entreprenuers and government lies in waste management.
All the entrepreneurs appreciate the change India startup ecosystem provides today which can make their dreams come true. Every metro city in India provides unique climate of work and customers also. Of all the cities in India, Pune shows high potential for budding startups, unlike Bangalore.
Besides the top cities, Ahmedabad, Jodhpur, and Jaipur have also shown activities of startups around them. This is more of manufacturing and service related sectors. Only issue these cities will face is the lack of technological advancements.
Ola Cabs, for example, had to move its operations from Mumbai to Bangalore to stay in touch with its investors. Similarly, Quikr has also recently started its own tech facility for their upcoming app which caters entertainment industry. Overall, in terms of technological advancements, it will be hard to beat Bangalore