Bengaluru has the potential to become ‘The startup Hub of India’: Sameer Nigam CEO of PhonPE
Bengaluru is emerging as a startup hub and continues to grab the attention of both the technology-based sector and its talent. Bengaluru is a city with great weather and a growing infrastructure. Despite the traffic congestion Bengaluru is still a growing ecosystem and its affordability is also another factor that people take into consideration.
In the year 2022, Bengaluru was ranked 5th in the world for technology-based venture capital investments and was recognized as India’s startup capital. A report from policy advisory and research organization Startup Genome which was launched in London at the Tech Week in 2022, where a Bengaluru based startup received funding of $7.5 Billion. Bengaluru is also leading the way for women led startups and also capital flow from the startup ecosystem
Sameer Nigam CEO of PhonePe said “What ticks for Bengaluru, first, is that it has great weather,” PhonePe was founded in 2015 and has its headquarters in Bengaluru. He further added “second, the startup ecosystem benefited because lions of the IT industry set up a technology pathos in the city,” while referring to the times when IT firms such as Wipro, Infosys etc. had set up campuses in Bengaluru with the aim to attract youth from across the globe to the city in the 90s and early 2000s. Employees working in Bengaluru have found the city to be more affordable in comparison to other metropolitan cities like Mumbai,
“In startups, you need a lot of young talent. Young talent will typically involve economic migrants.” In Bengaluru, young migrants found not only great weather but affordable housing. Bangalore lucked out. Someone prophetically put the airport 50 km in one direction, electronic city in the other, so you have residential availability for young people that Bombay can’t dream of,” said Sameer Nigam.
