For 2018, Nasscom released their data on startups placing Bengaluru at the top with 25% of the total shares in India’s technology startup capital. Delhi placed second at 21% shares. But this year 2019, there is an expected shift in percentages.
Smaller cities are also starting to place interest in the tech startup business creating a more diverse competition within India.For the past 10 years, the city of Bengaluru in India has sustained the brand as the country’s top startup capital for technology.
Now, there has been a slight ruckus when a statistic report placed the city of Delhi at the top spot in startup capitals. There has been a conflict in rank between two survey bodies namely TIE and Nasscom. But they are quick to explain why did the ranks vary, TIE used the data from all startup industries operating in India while Nasscom limited theirs to technology startups only. This explains the disparity between the released rankings.
Atit Danak, manager and head of CoNXT, a startup collab who worked on the TIE report, revealed:
Bengaluru still has the most comprehensive startup tech ecosystem and fosters talent. When it comes to deep tech and innovation, it has a clear edge.
Primary tech startup capital
The TIE data report not only covers tech startups but everything in general. This is the reason why Delhi placed on top of their rankings with at least 7000 startups in total, 10 unicorns and a private market valuation of $60 billion. The city of Bengaluru is right behind a few notches with 5200 total startups, 9 unicorns and approximately $40 billion in cumulative private market valuation.
Mumbai also has a high output at around 3800 startups, but they seem to fall short with only 1 unicorn company and a combined market valuation of $12 billion.
Bengaluru is highly appraised in terms of affordable workspace rentals, the abundance of co-working spaces, output driver programs in boosting tech skills, and huge support in early-stage seed fundings.
Globally, Bengaluru is at top 3 among the largest tech startup hubs. It clearly shows their in-depth talent and career growth when it comes to tech startup system.
Incoming data still places Bengaluru at the top spot in tech startup rankings and it is not expected to change as the year progresses. The city has indeed established their dominance in the tech startup industry and nothing is keeping this freight train from moving forward.
This is not a competition though those cities have to take negatively. The competition is just a good motivation for all parts of India to excel to contribute to the success of the whole country. We can count on our fingers several local projects that could be funded with donations from these lucrative tech companies.
Thinking out loud, is the ban on crypto still on the parliamentary table?