The recent release of rankings by Global Startup Ecosystem Ranking by San Francisco based company Compass illustrates the prolific rise of Bangalore as a startup ecosystem in the world. Having risen 4 places Bangalore, which is at Rank 15, is the only Asian city apart from Singapore to figure in the top 20 hottest startup ecosystems in the world. Undoubtedly, Bangalore is the startup capital of India.
As per reports Bangalore has 3100 to 4900 active startups and has it has received a whooping sum of $2.25 billion of Venture capital funds in 2014, thereby outranking every metropolis in India. The last time the rankings were declared in 2012, Bangalore was ranked 19th in the world. Hence, in the last 3 years, the city has climbed 4 spots, which is an applaudable achievement in itself.
Notably the same ranking report in relation to Bangalore states that “the ecosystem, which has historically been known as “the world’s back office”, has transformed itself into a high octane environment that offers early stage startups the opportunity to turn into billion dollar companies.” Further the report also has special mention of the likes of Flipkart and InMobi, wherein they have been hailed as the leaders of $1 billion valuation ‘unicorn club’, which has thereby helped to inspire other startups to think beyond their present status.