Bengaluru worlds next Silicon Valley | BANGALORE - THE SILICON VALLEY OF INDIA | Karnataka | India
When you walk down the streets of the Koramangala neighborhood in Bangalore, there are three things there’s an abundance of – bars, engineers and entrepreneurs. With a new startup mushrooming almost on a daily basis from hostel rooms and universities, Bangalore is proving to be one of Asia’s fastest growing startup ecosystems.
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In the last few years, Bangalore – or Bengaluru as it’s currently called after being translated to the native Kannada language – was among the top 14 leading global advanced manufacturing and robotics ecosystems, according to Startup Genome’s 2018 ranking, overtaking other metropolitan cities like Mumbai and New Delhi. “Bangalore as a place for entrepreneurs I think is really exciting and is getting more exciting,” says Ben Legg, managing director of Ola UK, the Bangalore-based ride-sharing platform.
Legg speaks from experience as Ola, initially born out of Mumbai, shifted its headquarters to Bangalore after recognising the city’s benefits. “While Mumbai is a bigger and richer city, [the founders] needed a lot of engineers and there’s way more in Bangalore,” Legg declares. “And if you want to build an awesome product quickly, you need to be in a place where an engineering shortage isn’t going to hold you back.” After moving base to Bangalore, not only did Ola scale further and enter international markets including the UK and Australia but also received funding worth $3.8bn through 21 rounds from Indian and foreign investors. “Just like Google, Facebook or Apple’s head office remain where the action is – which is in America, Silicon Valley – I expect the same with Bangalore,” he opines. “With Ola [being in Bangalore], they’re in the heart of things. And that’s the right place to be.”
Bengaluru worlds next Silicon Valley || BANGALORE - THE SILICON VALLEY OF INDIA | Karnataka | India
While Bangalore is deemed the startup hub of India today, the city wasn’t initially seen as a fertile land for business. Being a former British colony, India was mainly an agricultural and manufacturing hub due to its cheap labour and low-cost land.
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Bengaluru worlds next Silicon Valley || BANGALORE - THE SILICON VALLEY OF INDIA | Karnataka | India
The benefits of Bangalore’s infrastructure and abundance of resources led many multinational corporations to follow suit and place their headquarters in the city. Apart from global titans like Amazon and Uber, the list includes infotech businesses like Cognizant, Texas Instruments, Wipro, Microsoft, SAP LABS, Accenture and Infosys. “[The] shift of Infosys’ headquarters from Pune to Bengaluru encouraged the setting up of more IT companies and created thousands of jobs,” Pasari says. Additionally, unicorns – namely Swiggy which raised $1.5bn over nine rounds and Flipkart which has $7.5bn funding in total – indicate how lucrative Bengaluru’s ecosystem is. “India’s startup landscape has become the epitome of innovation and Bangalore is one of the future faces of India,” he continues.
Bengaluru worlds next Silicon Valley || BANGALORE - THE SILICON VALLEY OF INDIA | Karnataka | India
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