By Sid Arora:
Unless you are a mountain-goat dwelling in the snowy peaks of the Himalayas, your life is probably in sync with e-commerce, and is being impacted by the start-up boom that is proliferating in India.
Entrepreneurs are now reaping rich dividends by moulding fresh ideas into bold business ventures, also known as start-ups. In the first quarter of 2015, investors poured in a whopping $1.7 billion into start-up companies in India. This is good news for entrepreneurs, job aspirants and for the nation’s economic prospects.
We know that this start-up ecosystem is being driven by urban hubs. Cities like Delhi, Mumbai and Pune are seeing start-ups in multiple fields, like travel, food, and e-retail mushrooming all about. But the one city that has quietly been spearheading this growth, is Bangalore.
Bangalore has had an interesting past few decades of modern history apart from its rich heritage, which provides the context as to why it is now a dream destination for business managers and entrepreneurs. Poised almost ideally between Mumbai and the rest of South India, this city was once more famous for its government-based industries like Hindustan Aeronautics Limited and B.H.E.L.
In the 90’s, India’s Garden City transitioned to become the national IT destination – and what a boom it was! It didn’t stop there. Today it’s technology, knowledge-based economy, and a growing influx of students and job-seekers, along with many accredited colleges offering engineering and MBA courses, has also given it the tag of an emerging educational hub.
A recent study showed that Bangalore is the 2nd fastest growing start-up ecosystem in the world. If you are part of one of the 1,700 startup companies that began their journey in Bangalore, you have been part of the achievement that ‘Namma Bengaluru’ can take pride in.
Students come to Bangalore to pursue undergraduate, graduate and post-graduate professional courses in fields ranging from Arts, Commerce and Engineering, to Business Management, Medicine and Science. While students and professionals from cities like Hyderabad, Cochin, Salem, Mumbai and Pune embrace Bangalore throughout the year, it is a pleasant surprise to see many students from states like Meghalaya, Jammu and Kashmir and Uttar Pradesh also choosing to study and work here.
One reason for this is Bangalore’s popularity as a city with heavy IT presence in India. Multinational companies like Infosys and others have set up base here, and it makes sense for students and their parents to invest in IT-based education here. Interestingly, the attraction is not limited to students pursuing Bachelors in Science (B.Sc) or Bachelors in Engineering (B.E.) alone. The Master of Business Administration (MBA) is a course that has also seen a skyrocketing demand in Bangalore.
Today, growth of the IT industry is inextricably linked to business services and the start-up economy. Chances of landing a well-paying job or succeeding as an entrepreneur are high in an IT hub.
If you have a brilliant idea for a start-up, few things can give wings to it like a sound MBA education could. Young, talented entrepreneurs are already graduating, overflowing with talent and ready to make a fortune. Mandatory standards from bodies like UGC and AICTE have led many institutions to improve their facilities, faculty and courses. Reputed colleges like M.V.J., AIMS, NMIMS and many others offer PGDMs and MBA degrees to students in Bangalore. Aspirants are utilizing these degrees to achieve a head-start in their careers.
Many other factors stand in favor of this city. It is is one of the better-connected metropolises and women perceive Bangalore to be one of the safer cities in the country. Bangalore also enjoys a moderate climate, in comparison to Delhi or Hyderabad, which definitely gives it an edge, when people consider long-term residence here, both for education and work.
The success of Bangalore as a rich ecosystem for thriving start-ups shows that innovation and diligence have been rewarded even in uncharted territory. With increasing options for education, the symbiotic growth of IT and business, a progressive outlook and a diverse cultural mix, Bangalore is as close as it gets to being a career base and launch-pad for students and entrepreneurs alike.