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.

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