Bengaluru has bagged the title of the ‘top start-up hub’ of the country and the most-funded one as well, according to a report by media firm Inc42.
The report ‘The State Of Indian Start-up Ecosystem Report, 2022’ said India is the third largest start-up ecosystem in the world with over 57,000 start-ups launched till date.
Also Read: Why will a unicorn logo be installed in Bengaluru? (Hint: It’s no mean feat)
The report said India got total funding of 112 billion dollars between 2014 and 2021, compared to China’s 624 billion dollars funding, and 1.1 trillion dollars received by the United States. India is minting unicorns faster than China, the report added.
Within the country, Karnataka was on top of the list of states in terms of local start-up ecosystem development with 62 billion dollars in funding. This is in comparison to Delhi NCR’s 39 billion dollars and Maharashtra’s 20 billion dollars.
Also Read: Bengaluru in top APAC cities for sustainable commercial real estate: Report
The report named Bengaluru as the top start-up hub in India in terms of deal count as well as funding amount. Bengaluru was also the biggest hub for women-led start-ups in terms of venture capital inflow, it added.
“The top 10 start-up hubs of the country. #Bengaluru is at the first position in terms of deal count as well as funding amount followed by #DelhiNCR, #Mumbai, #Chennai and so on,” Inc42 wrote on social media.
Taking a dive into individual markets and sectors, the report said Bengaluru and Mumbai are the top destinations in the country for fintech mergers and acquisitions, with Bengaluru also topping the healthcare sector. “Bengaluru is the top hub for Healthtech start-ups in India, making 32% of the total count,” it stated.
Also Read: Bengaluru among six best cities in the world for expats: Report
Bengaluru also topped the charts for being the best for enterprisetech, the top segment in the city, and deeptech start-ups. Other emerging hubs from Karnataka were Mysuru, Mangaluru, Hubli, Belagavi and Udupi.
The report named the Karnataka Electric Bike Taxi Scheme, Karnataka Innovation Authority Act 2020 and the Engineering R&D Policy 2021 as being some policies which helped its start-up ecosystem.
