Amongst the many cities in India which have its share of startups, Bangalore, where I live, is a preferred destination. Considering the quality of talent available here, it has and continues to remain in the forefront of startup activity. The Startup Ecosystem Report 2012 from Telefonica Digital Hub and Startup Genome has very interesting information on startup trends. The report which is comprehensive describes how select different locations the world over are positioned, in comparison with Silicon Valley, the ultimate startup destination.
Bangalore is ranked 19 in this list but that’s nothing to be embarrassed about because this list features the best places in the entire world. It is encouraging to know that the factor for which Bangalore had the best score was with regard to “Mindset Index” which refers to how the founders of startups think and have an appetite for risk etc.
Fallowing this report, I read a detailed analysis in DNA newspaper of March 13 which covered in great detail what some of the leading entrepreneurs in Bangalore had to say about its advantages and disadvantages.
From my experience as a talent management person, I have the following points to share:
* The talent available in Bangalore is highly adaptable. They can learn very quickly and soon get ahead of the game.
* More and more young people are taking the plunge and starting their startups. Such a career choice is far more accepted these days than before.
* We need to recognize that not everyone has it in them to start/work in a startup. The needs are very different and call for a very different psychological profile.
It is reassuring to know that Bangalore, the Silicon Valley of India, continues to pursue greater success. SeedTable which captures trends of startups globally indicates that Bangalore was ranked 22 out of 150 “Most Active Cities” worldwide.
Events like the four day Startup Festival’s street art event speak volumes of the diverse possibilities and potential ahead.