Bangalore is now ranks 15th in the Global Ranking for the startup’s. This is makes it a mecca of startups in India. In last two years it has transformed from being the Silicon valley of India to producing the best technology entrepreneurs in India.
The others in the list are Silicon Valley that tops the list, followed with New York City, Los Angeles, Boston and Tel Aviv.
Here are the key takeaways from the report.
Transformation of Bangalore
Bangalore has transformed itself into a high energy environment that offers early-stage startups the opportunity to turn into billion dollar companies. Bangalore has approximately 3,100 to 4,900 active startups, making it the largest ecosystem in India.
Youngest average founders’ age of all the top 20 ecosystems. With a median age of 28.5 years, Bangalore is home to the youngest entrepreneurs in the region.
VC Funding Better
Bangalore stands second in growth in VC investments with a four-time increase. Moreover, seed funding growth is the fastest in Bangalore, with a 53 percent increase in the last two years. It is also the fifth strongest ecosystem in the world.
Flipkart and InMobi Importance
Flipkart and InMobi are part of the unicorn club with valuations beyond $1 billion. This increases the attention of the international investor community who are eager to find high potential, under-valued new startup. Flipkart, which was set up just 8 years ago and has disrupted the retail segment big time, it has managed to raise $3.4 billion until now from investors including global majors such as DST Global, Tiger Global and Naspers.
Low Cost Talent
Bangalore has a solid pipeline of cost-efficient talent. The city is ranked 17 on this parameter. The average time taken for hiring is the second lowest in the city and salaries are below $40,000 annually. These are hugely beneficial for Bangalore-based startups.
Reports- US-based Compass.