From expansion plans of brands like Eatlo, Swiggy, Dazo it seems a trend of not just customers but also VCs putting their money where their mouth is.
Year 2014-15 saw numbers of food-tech start-ups entering the Silicon Valley with lots of innovative concepts hitting the industry. Chef-driven food-tech aggregators, online food ordering portals, healthy food deliveries and the Ghar-Ka-Khana segments have highly heated Bengaluru during these periods.
The city appears to be a tech-imbued, and has welcomed technology with open arms and the pool of talent has helped make resources easily available and put some great minds together.
According to Compass Report, “Bengaluru boasts an incredibly youthful startup ecosystem, with the youngest average founders’ age of all the top 20 ecosystems.”
Along with IT infrastructure that brings large pool of techies and cosmopolitan culture, Bengaluru has other advantages in terms of educational and entrepreneurial institutes. But now Bengaluru has become a hub for food start-ups. And with some much opportunity, this city provides the best opportunity for home chefs, food experts to make their career.
“I think people are much more aware here about whole startup ecosystem. People here are willing to experiment new things. Bengaluru is an adventurous place, people frequently eat out. So, there is lot of demand. And there is also supply of people. People are early adopters of start-ups here,” shares Sai Priya Mahajan, Co-Founder of Eatlo.
In last couple of months, Foodtech startups in India especially Bengaluru have taken the spotlight, even overtaking the attention from the Indian e-commerce space. From expansion plans of brands like Eatlo, Swiggy, Dazo it seems a trend of not just customers but also VCs putting their money where their mouth is.
Not only this, because of the technical skill of the city, Bengaluru was ranked among top 10 favourite destinations for entrepreneurs and home to more start-ups than any other city in the Indian sub-continent. The tech hub aims to grow 1,000 start-ups in the next three years and also link them with international firms which will support the businesses to expand their operations in India.
Commenting on the same lines, Pushpesh Dutt, Co Founder & Managing Director, Tandurust Healthy Food Pvt. Ltd. says, “People are getting motivated from other startup that has set good examples for others, so that they can also do something. Bengaluru is a cosmopolitan city, so issues regarding good quality food and catering services are there. People come from different parts of country, so they want authentic food and this is the right time to experiment with their innovative ideas.”
Nasscom reported that most startups in Bengaluru are in the field of e-commerce, big data and analytics, enterprise resource planning and productivity and collaboration. 13 percent of the start-ups have been founded by people below the age of 36 years and are inviting investments from countries like China and Japan.
Hence, with a mix of innovative start-ups, aspiring entrepreneurs and food-lovers discussing on various aspects of the food and beverage industry in India, the city is really going to see some more tech-start ups in coming years.