Bengaluru in top cities list for nurturing startups

Singapore is the only other Asian city on the list prepared by Compass

GN Bureau | July 28, 2015


#startups   #bengaluru   #compass   #silicon valley   #Singapore  

Silicon Valley remains at the top but Bengaluru is home to the world's 15th-best startup ecosystem in the world.

According to a global Startup Ecosystem Report published by Valley-based startup benchmarking firm Compass, it is up from 19th three years ago. The IT capital of India is ranked number 10 in the valuation and number of startups and number 6 in access to funding. However, surprisingly the city lags behind in talent and market reach.

The report said that Bengaluru showed five-fold increasing in exits, quadrupling VC investment, and having the highest growth in the number of seed investments. Its growth index has been ranked second only to Berlin.

Singapore is the only other Asian city on the list. The top 10 ecosystems include seven cities in the US, with Silicon Valley taking the lead. Tel Aviv and Berlin make up the rest. This is the second startup ecosystem report from Compass, the first being in 2012.

The report excludes China, Japan, and South Korea due to language constraints in data collection.

Singapore jumped to tenth position from number 17 in 2012 as it has access to  funding, market reach, and startup experience. However, like Bengaluru, the city-state was wanting in talent as it ranked last for talent access.

Across the top 20 ecosystems, total exit growth rose 78 per cent annually from 2012 to 2014. Bengaluru contributed to 0.20 per cent of global exit value

The startup stats:

The total number of startups in India: 3,100

India's rank is 5th in the world in startups after the US, the European Union, Canada and China.

Bengaluru is where most of the funded startups are based, followed by New Delhi and Mumbai.

690 funding deals took place across 566 tech startups in India in 2014-15.

At $1.7 billion, Flipkart got the highest funding in India in 2014, followed by Snapdeal at $637 million and Ola at $250 million.

The venture capital funding to startups in India till date in 2015 is $3.1 billion.

Comments

 

Other News

Five years after Nirbhaya, have things changed?

Far away in the other world, she must be weeping seeing the flames of fire she lit for justice slowly fading. On December 16, 2012, the 23-year-old Delhi woman, better known as Nirbhaya now, was brutally raped. She eventually succumbed to her injuries, but not before triggering a storm acorss the count

Income inequality has rapidly increased: Report

The rise in income inequality has been gradual in India, said the World Inequality Report which noted that at the global level, inequality has risen sharply since 1980, despite strong growth in China. The report said that inequality within world regions varies greatly. In 2016, the share of

BHEL launches coal-fired power project in Indonesia

 BHEL has successfully commissioned a 54 mega watt coal-fired captive power project in Indonesia. The project located at East Kalimantan in Indonesia has been set up by BHEL for PT Citra Kusuma Perdana (PT CKP) for its coal-mining operations.   For the project, B

Five years after Nirbhaya: A lot needs to be done

Have things changed five years after the Nirbhaya incident? I see Delhi as the capital of protest, not just capital of rape as it is often painted. In terms of legislation, in 2013 one-stop-centres were set up after the landmark report of Justice Verma Committee and Justice Usha Meh

Winter session will be productive: Modi

The winter session of parliament is starting and I am confident that it will be productive session, said prime minister Narendra Modi on Friday. He hoped that there is “constructive debate and we come up with innovative solutions to our nation`s problems”. Speaking

Know more about Project 75

When prime minister Narendra Modi dedicated Kalvari submarine to the nation, it was significant for more than one reason. Not only did the submarine enhance India’s capability as a blue water navy, it also highlighted Project 75 that focused on a major exercise to build six submarines.



Video

Govt. approves draft legislation to ban triple talaq

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter