‘TEAM’, an organization formed by top entrepreneurs aiming to make Mumbai the new startup hub

Can Mumbai be India’s next startup hub? Bangalore and Hyderabad have been on the top when it comes to startups. Indias leading unicorns such as Flipkart, Mu Sigma, and InMobi have their base in Bangalore. Although there is tremendous potential for Mumbai to take away the spotlight. Out of 108 unicorns, 18 unicorns have their base set in Mumbai.

“Brand Mumbai” is a startup hub that has been formed by top entrepreneurs in Mumbai in order to promote the startup culture. Aiming to nurture the startup culture, 30-plus business owners have partnered with each other to build this organization. The startup hub coming up in Mumbai is a viable plan since Mumbai is the financial capital of India. This organization will be led by Aakrit Vaish, co-founder of Haptik, and Harsh Jain, co-founder of Dream 11. The organization of business owners will be called ‘TEAM’ (Tech Entrepreneurs Association of Mumbai).

Founders based in Mumbai who will be part of TEAM include Zepto, Upstox, Pharmeasy, Rebel Foods, and Clevertap, among others. The aim is to attract more businesses and help startups set their base in the business capital (Mumbai) therefore stakeholders will hope to contribute to this effort. ‘TEAM’ will be registered as a non-profit entity. Members belonging to the entity will have to contribute to the financial expenses. To push the startup ecosystem, ‘TEAM’ will present and discuss policies with the government.

Aakrit Vaish, co-founder of Haptik said, “Right now things are in the initial stages of formation. We have got a good group together and the next steps are going to be to form the charter, elect the board, etc., and then go from there”.