A recent report on a number of new startups has revealed that Bengaluru has a higher number of new startups than San Francisco in the last 5 years. Bengaluru is the start-up hub of India.
Key Points
- As per a report by Tracxn, the number of start-ups founded in Bengaluru has been significantly higher than in San Francisco in the past five years.
- Tracxn is an organization that tracks investments and financials of start-ups and private companies.
- As per the data by Tracxn, in the year 2015, 3,080 new startups were founded in Bengaluru in comparison to 2,040 new companies in the US’s San Francisco.
- In the year 2018, 1,564 firms were founded in Bengaluru while 1,278 startups were founded in San Francisco.
- In the year 2020, Bengaluru saw 805 new startups while there were 619 new startups in San Francisco.
- However, in terms of the value of the amount funded, San Francisco still attracts five times the amount invested in Bengaluru.
- At present, Bengaluru has more than 13,000 active start-ups. The city is home to unicorns like Swiggy, Byju’s, and BigBasket.
- As per Tracxn, retail, enterprise applications, Consumer, and ed-tech are among the top sectors that have the highest number of active firms in the city.
- When overall investments made in start-ups founded since 2010 are considered, Bengaluru is ranked 9th globally.
- In this regard, San Francisco is on top, followed by Beijing and New York City.
As per a recent report by Dealroom. co, Bengaluru has been the world’s fastest-growing mature tech ecosystem since the year 2016. The venture capital investment in the city grew 5.4 times from 2016 to 2020.
