Innovation Hub India

INDIA

Innovate Bengaluru - Innovation is in Bengaluru’s DNA

Bengaluru (earlier known as Bangalore) is one of India’s most vibrant cities, throbbing with innovative ideas. The capital of the south Indian state of Karnataka is also the technology capital of India, with private enterprise boosted by a slew of incentives rolled out by the Karnataka government, including a Startup Policy.

Bengaluru is the fourth largest technology cluster in the world after Silicon Valley, Boston and London. Colliers Research picked Bengaluru as the first of top three cities in Asia for tech enterprises, ahead of Singapore and Shenzhen, based on socio-economic, property and human factors.

This megacity has a diverse population of over 10 million, and while it is the third wealthiest Indian city with a total wealth of $320 billion, it is powered not just by the 7,500 millionaires (and counting) and 10 billionaires (in the areas of software, ecommerce, education, real estate and garments), but its large, educated middle class workforce.

Says Mohandas Pai, Founder and Chairman of Aarin Capital, “Bengaluru’s 3.5 million workforce (comprising 35 percent of its population), is mostly highly educated, highly skilled and works in the public and private sectors,  financial services and consulting, and a large number,1.6 million, work in Technology and KPO. The 25,000 IT companies and 7500 startups here have attracted about US $40-45 billion venture capital over the last 10 years, and tot up exports of US $45 billion.”

SmallBusinessPrices.co.uk ranks Bengaluru as the second best city in the world to work and live in for young innovators. Bengaluru leads the country in technology jobs, with 22 percent of job postings in this sector originating from here, according to job portal Indeed.

80 percent of global IT companies have based their India operations and R&D centers here, and it has the highest number of R&D centers in India.

Bengaluru provides world class infrastructure for businesses and is the base for 80 percent of global tech companies in India

Eric Savage, Co-Founder & CEO,Unitus Capital says, “There is a lot more innovation happening here than anywhere else in the world. Both in New York and Hong Kong where I worked before moving here, most of the people I knew were bankers or lawyers. In Bengaluru, every person I know is an entrepreneur. It’s in the DNA of the city, which makes it quite an exciting place to be in”.

Revathy Ashok, Co-Founder, Strategy Garage and member of the Indian Angel Network, says, “The ecosystem in Bengaluru is really vibrant. It’s built up over time and you can palpably feel the excitement of entrepreneurship. Startups choose to be here because of the benefits of peer learning and the support services available here”.

“The startup ecosystem in Bengaluru is the most mature in the country, with a large pool of trained manpower who are potential entrepreneurs, academic institutions of higher learning in both technology and management, angel and institutional investors, large technology companies that are partners and customers, and incubators and accelerators,” says CS Murali, Chairman of the Entrepreneurship Cell of the Society for Innovation & Development.

Bengaluru’s vibrant knowledge economy is a magnet for startups.

Innovation has been fuelled by tech companies and the roughly 450,000 MNCs who work on products and in deep engineering. Entrepreneurship has been fuelled by people who left the big companies to start their own. “Bengaluru is a fertile place where people can imbibe and use technology”, says Pai.  Taking into cognisance these happy convergences, the Karnataka government was the first in India to set up a dedicated Startup Cell with a mandate to promote Bengaluru and Karnataka as the ultimate startup destination in the world.

Thriving consumer demand has made Bengaluru India’s richest city in per capita terms, with GDP of around US $20 billion, and the state of Karnataka’s GDP is about US $190 billion. It absorbs the highest quantum of Grade-A office space in India, about 12-13 million square feet a year, for the last 12 years. It also has the second largest residential market in India.

“Absolutely brilliant minds live in Bengaluru! We are interviewing innovators across the spectrum – from Deep Science to Manufacturing, from Pharma to Space, Education to Social Impact, Ecommerce to Brick & Mortar, along with investors and innovation enablers. Their drive and commitment is going to make not only this city, but the world a better place. In our journey to connecting innovators across the world, Bengaluru is the most important pin on the map”, says Sandhya Mendonca, Founder, MD & Chief Editor, Raintree Media, which is Innovate India’s publishing partner. Raintree Media is a Bengaluru based transmedia company spanning print, digital, video, audio and experiences.

Stories

Impactful Investing

Impactful Investing “Investors should look at the social impact of the business as the best opportunity for large financial returns by investing in organisations that

Read More »

Design in Context

Design in Context “KAF’s mission is to create architecture which is very responsive, and leaves a mark visually or experientially. This approach has been drawing

Read More »
GCU Logo

Learnings for Life

Learnings for Life “Education is like an apple tree. You plant a seed and nourish it; while the yield will not be immediate, it is

Read More »

SIDing with Science

SIDing with Science Located within the century-old, sylvan campus of the Indian Institute of Science, and instituted in 1997, SID’s journey of transforming original scientific

Read More »
pikkol logo

Automated Relocation

Automated relocation “Innovation is at the core of what we are doing and we have just scratched the surface,” say Pikkol’s core team Suraj Valimbe,

Read More »

Policy Boost for Startups

Policy Boost for Startups In a bid to amplify Bengaluru’s increasing prominence as a tech innovator, and to encourage entrepreneurs across the state, Karnataka has

Read More »
Logo PathShodh

Democratising Diabetic Care

Democratising Diabetic Care Dr. Vinay Kumar demonstrates the Multi- Analyte Device: a tablet sized point-of-care product that powers affordable healthcare. Tackling the critical need for

Read More »
Dressire logo

SaaSing up Fashion

SaaSing up Fashion “We want to make shopping personal by providing a Mom’n Pop store experience, at scale, enabled through one-to-one personalisation and real time

Read More »
Saahas Zero Waste logo

Waste As a Resource

Waste as a resource “Individuals have to take responsibility for their waste. When you say ‘my waste’, that’s the starting point,” says Wilma Rodrigues, Founder

Read More »
COEO logo

Helping people breathe

Helping People Breathe “COEO Labs is one of the few companies which make new products from the scratch. Our products are patented in multiple countries,”

Read More »
Sea6 Energy logo

Powering a Blue Economy

Powering a Blue Economy “Sea6 Energy is unique in the way it has put together a multidisciplinary group of people to innovate novel and sustainable

Read More »

Indian Chips on the Table

Indian Chips on the Table “Mymo Wireless is trying to set an example in Indian semiconductor industry in cellular wireless communication”, say Mymo Wireless Founders

Read More »