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2012-11-22

Bangalore among top start-up ecosystems

One of the major Indian metropolitan cities, Bangalore has been ranked among top 20 cities in the world offering the most influential start-up ecosystem, respectively, signifying a global start-up revolution. The Indian IT hub, Bangalore, was positioned a

One of the major Indian metropolitan cities, Bangalore has been ranked among top 20 cities in the world offering the most influential start-up ecosystem, respectively, signifying a global start-up revolution. The Indian IT hub, Bangalore, was positioned at no. 19, according to a report called Start-up Ecosystem Report 2012 released by Startup Genome and Telefónica Digital recently.

“There is similar motivation in Bangalore to Silicon Valley: 56 per cent of entrepreneurs in Bangalore pursue building a great product, 30 per cent try to change the world. Interestingly, no entrepreneur in Bangalore wants to create a quick flip and clone already proven business models,” the report said.

“We created this report for three reasons: firstly, to put a spotlight on the emerging hotspots of technology entrepreneurship that will be responsible for powering a massive global socio-economic structural shift; secondly, to further democratise the knowledge necessary to help spread the merits of Silicon Valley; and thirdly, to give actionable insights to entrepreneurs, investors, corporate development departments and policy makers,” said Bjoern Lasse Herrmann, CEO, Startup Genome.

“India could well be one of the toughest countries in the world for a startup to flourish. However, being one of the biggest markets on earth provides a foundation for a prospering startup scene. Another important factor is the richness of India’s talent base. Well educated and highly skilled, Indian web entrepreneurs have the ability to transform both their economy and society. Bangalore needs to take certain steps to enable entrepreneurs to build global startups and attract talent and capital from abroad,” the report added

"Overall, the Startup Ecosystem Index paints a glowingly positive picture of the state of entrepreneurship around the world. While Silicon Valley is far and away the strongest ecosystem, just 5 or 10 years ago, most of the other ecosystems on the list either barely existed or didn't exist at all," it said.

Based on data from more than 50,000 startups around the world, the study concluded Silicon Valley, Tel Aviv and Los Angeles were the top 3 startup hubs.

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