Why Whitefield is the startup hub of Bengaluru?
“Silicon Valley of the East “, “Tech Capital of Asia”, “City with entrepreneurial Spirit”, Bengaluru (mostly known as Bangalore) is the media’s new muse. Bengaluru is the favourite city of expatriates in India and has the most use of English when compared to other cities.
What makes Bengaluru, well, Bengaluru – Mecca of startups?
Among several countries, India received the third highest VC funding, which globally is at a historical high and 57% of India’s funding was corned by Bengaluru. Bengaluru is also in the list of cities globally that received the most venture capital. Of the about 80 active PE and VC funds in India, almost 30 are based out of Bengaluru. According to the World Startup Report, released by a Silicon Valley entrepreneur, Bowei Gai, who is mapping the startup ecosystem in 29 countries, Bengaluru Accounts for 41% of all new ventures launched in India. Bengaluru is a heaven for entrepreneurs and has scope for established businesses looking for expansions.
Through research several reasons have come together to cement Bengaluru’s position as a startup hub. Building your startup in Bengaluru reduces the lead-time for raising funds, increases your chances of being bought, and enhances your odds of success. Bengaluru, home to the largest number of local conglomerates and IT MNCs, is known for its startups in different niches, much like the Silicon Valley in the United States.
Going by anecdotal evidence, there is a very good reason why from e-commerce giant Flipkart to food chain startup Swiggy have their base in Bengaluru. Isn’t it time that you thought about it too?
From the invention of telephone to internet to mobile, the cycle of technological change has become shorter. Inventors and techies are in great demand each time this distinct pattern emerges. With the demand followed swiftly, Bengaluru as an IT hub attracted tech talent from all over India.
With the ubiquity of mobile and communication, Bengaluru every year represent the critical talent pool one needs to succeed in a mobile era. Entrepreneurs flocking to Karnataka’s capital say that they are drawn by a unique culture of mentorship and networking that pervades the city. Financial solutions, application development and entertainment are some of the top technology scopes available to people looking for jobs in Bengaluru.
If you are a Tech aficionado who has been there and want to elevate view on next level, you find lots to love here.
Why choose Whitefield?
Most pioneering business person invest almost double the average work – week working on their firm, and a lot of trial and error. Every entrepreneur needs to give their geographic location a serious re-think, behemoth you can imagine. Location is the key to most business, and the entrepreneurs typically build their reputation at a particular spot. Considering this analysis, one should consider demographics, psychographics, census and other data while selecting the location.
Choosing the right location is vital and can save you a lot of time and hardship on your unique entrepreneurial journey.
Primarily, you would like to get answer to these two questions:
Why this locality?
Without further ado, here are some essential factors as to why you should consider Whitefield.
Whitefield is a well-known developed residential locality, one of the real estate hotspots, situated on the eastern periphery of Bengaluru, a place where pristine exists. Whitefield is embellished with skyrocketing buildings and includes the upmarket apartment complexes which is also a shopping and entertainment hub. The area is full of upscale malls like Phoenix Market city and houses global brands, movie theatre, open air vistas and so on. It is now a major part of greater Bengaluru. While this micro-market boasts of all necessary amenities and connectivity, be prepared to deal with traffic snarls. However, the upcoming metro-rail connectivity is expected to bring in much needed relief.
Whitefield being Bengaluru’s contradictory, there is an insignificant progress in its expansion over time. Needless to say, Whitefield takes the top spot as it is packed with IT firms, businesses, tycoon and housing developments.
Ironically, this village-turned-suburb-turned-city has the highest number of tech parks. The development of the ITPB, International Tech Park Bangalore which is the oldest tech park, put in motion a knock-on effect that has contributed to Whitefield’s development and is paragon of Bengaluru’s IT success story and continues its contribution to the expansion of Whitefield as major IT hub. Located just 18 km from the city centre, ITPB is a 69-acre integrated development with office space, retail mall and anchor of niceties.
Let’s get to know a little about its history. Whitefield history goes back to 1882 when David White, the locality is named after, decides to set up a self-sufficient Anglo – Indian village. White was founder and first president of the European and Anglo-Indian Association, which received 4,000 acres of land from Mysore Maharaja Chamaraja Wodeyar on very favourable terms.
Perhaps, the old Whitefield vanished soon after the arrival of ITPL, home to huge multinational corporation and e-commerce behemoths.
Whitefield now houses Bengaluru’s leading MNCs. Some of the Multi – National corporations located in the region include Accenture, Hewlett Packard, Huawei, Unilever, TCS, and many more. This area is quite undoubtedly becoming the IT hub of India and is a perfect location to setup an office. Tech roles accounts for 25% of roles in Whitefield, a number that is expected to continue rising overtime. Whitefield offers the essential motivational framework necessary for the tech startups.
Having considered the above pointers, and pros of choosing Whitefield, one can bet to make the optimum results investing in this area. Whilst covering many crucial factors the aura of a particular region is as important as the business facility that you provide and is necessary for you to dedicate as much time as you find the “Perfect Spot”.
What makes Whitefield an attractive location for startups in Bengaluru?
Whitefield is an attractive location for startups in Bengaluru due to its well-developed infrastructure, proximity to major tech parks, and availability of affordable office space. Additionally, the area has a vibrant startup ecosystem and a supportive community of entrepreneurs, investors, and mentors.
Which industries dominate the startup scene in Whitefield?
Whitefield is home to startups in a variety of industries, including IT services, e-commerce, healthtech, fintech, and logistics. However, the area has seen significant growth in the IT and tech sectors in recent years.
Are there any government initiatives supporting startups in Whitefield?
Yes, the Karnataka government has launched several initiatives to support startups in Whitefield and across Bengaluru, including the Elevate 100 program, the Startup Karnataka initiative, and the Karnataka Startup Cell. These programs provide funding, mentorship, and other resources to help startups grow and succeed.
What networking opportunities are available for startups in Whitefield?
Whitefield has a vibrant startup community, with several coworking spaces, incubators, and accelerators that offer networking opportunities for startups. Additionally, there are several startup events, conferences, and meetups held in the area throughout the year.
What is the outlook for startups in Whitefield?
The outlook for startups in Whitefield is positive, with the area continuing to attract investment and support from the government and the startup community. With its strong infrastructure, affordable office space, and supportive ecosystem, Whitefield is expected to remain a thriving hub for startups in Bengaluru for years to come.
Sharat is a freelance writer and consultant with 7 years of experience, He discovered coworking spaces a few years ago and has been a fan ever since. In addition to writing and consulting, Sharat enjoys attending networking events, trying new foods, and exploring new cities. He’s also an avid reader and enjoys keeping up with the latest trends in the coworking industry.