If someone were to wake you up in the middle of the night and ask you about the best place to begin with a startup in India, in your semi-conscious state you may say Bangalore. After all, everything that has to do with technology, young professionals, and great ideas seem to be ‘Bangalored’ borrowing a term out of former US President Barak Obama’s book. But the answer is wrong. Hyderabad you say? Wrong again. Pune for sure, is it?
Okay, let’s stop playing this quiz game and spell it out for you, its GURGAON or GURUGRAM whichever way you would like to spell it. The Millennium City as it is called by the residents has emerged as the right place to start with your startup.
Let’s be honest, many of you would have difficulty in digesting this fact. After all, the only thing you imagined Gurgaon was good at was shipping you your affordable Alto 800s and running Call Centres.
How can some other city take lead over Bangalore the tech hub of the country or even Mumbai the financial capital?
If Startups = Flipkart and Flipkart = Startups, Bangalore is definitely your dream destination for a startup.
But names such as MakeMyTrip, Zomato, MobiKwik, and Jabong are all based out of Gurgaon and there are dozens more. To give credit where it is due Bangalore can rightfully claim its place in having been the nursery for startups in the country but the momentum has shifted northwards in the recent years.
Year after year we see the NCR top the list and most of it is thanks to Gurgaon. Whether it concerns start-up ideas, the amount of investments raised or the number of jobs created Gurgaon seems to have become the mecca of startups in the country.
So why do startups in Gurgaon succeed?
There isn’t a single underlying factor that has made Gurgaon the undisputed leader in the startup scene in the last few years. They are actually a combination of many factors along with some of the best startup ideas that have helped this city-scale new height. While the city has been lucky thanks to its proximity with New Delhi there are several other competitive advantages that it has built along the way in the last few years. So here we take a look at seven fundamental reasons why startups in Gurgaon succeed or have more odds on their side.
#1 It Is the Land of ‘Jugaad’
If you don’t know the meaning of the Hindi term ‘jugaad’ its time you brush up your linguistic skills! It is perhaps the most popular local terms used in the Northern part of the country which has found its way into the Oxford Dictionary. It literally translates to a hack or finding a cheaper and practical solution to a problem. Aren’t startups all about fixing problems and offering nice and easy solutions to the customers? Whether it’s a Bats on Delivery offering to deliver essentials at midnight or Let’s Barter India that is attempting to bring back the barter system you can trust the people in Gurgaon to come up with the most innovative startup ideas. Talk about Flipkart or Ola none of them were original ideas!
# 2 Finding Investors Is Relatively Easier
Startups are as much about great ideas as they are about they are about finding investors. And it all starts with Seed Capital. And when we talk of Seed Capital you either have to be in Mumbai or Delhi to find the right investors to fund your ‘million dollars’ ideas. Sorry Bangalore doesn’t figure in that list and for all the technological equity the city has it is the bad place to look around for local investments. Gurgaon’s proximity to Delhi makes it a natural choice for entrepreneurs. You say we also mentioned Mumbai in the list. But the financial capital loses out to Gurgaon on the next reason we mention on our list.
#3 Swanky Offices & Cheaper Rental
The last thing startup founders want is to pay hefty amounts every month as rent. And yet they don’t want to start their operations from a rag tag office. Yes, Microsoft started in a garage and so did Apple, but there isn’t surely any good omen associated with starting your operations from a garage! And Indian garages aren’t perhaps as good as those in America! Jokes apart it is possible to rent a swanky office in Gurgaon for much cheaper than what you would pay in Bangalore and Pune. And when it comes to office rental we don’t need to even tell the fact that mention of Mumbai is enough to scare you.
#4 Finding Resources Is Easier
Delhi is surely the biggest educational hub in the country. Whether you talk about technology graduates or those with a management degree a startup can easily access a large pool of talent when based out of Gurgaon in comparison to other major business centres in the country. A budding business can easily welcome people to intern with them. This serves as the right opportunity to get under the skin of the candidate to know whether he/she is good for being a part of an evolving idea. Given the fact that many students are saying no to high paying corporate jobs and preferring to work with startups, entrepreneurship never had it better in India and startups in Gurgaon are benefitting the most from this.
#5 Less Employees Getting Bored
If you are planning your startup in Bangalore or Mumbai you better get into developing an emotional relationship with your employees. Why do we say so? The chances are you would spend months training them and infusing your idea in their minds and one fine morning they would quit. These cities have become notorious for high rates of attrition which isn’t something you desire as a startup founder. The attrition rate is relatively lesser in Gurgaon irrespective of the factors involved. This will allow you to build a core team easily when compared to doing so in cities that have the high rate of attrition.
#6 Ideal Product Testing Ecosystems
Gurgaon is the third city in the country on the list in terms of per-capita income. The city and most of its landscape is home to tech-savvy professionals working in the hundreds of MNCs. Most of the city’s population comprises of people below the age of 35. This high-earning and the upward mobile group is often the target audience for most startups. Hence Gurgaon provides startups with the right kind of ecosystem to test their services and products.
#6 Diverse Population
The exponential growth of this city and flourishing business enterprises has attracted people from all over the country. It also means that one can bump into people from different states, linguistic backgrounds and cultural practices every day in the city. For any startup that is aiming for a pan India presence, the city acts as a mini-laboratory for experimenting with its products and services. You can easily fix the problems and gauge your opportunities by trying out your products and services in the city.
If you are gearing up for brilliant startup ideas you need to dial this NCR city and join the elite group of successful startups in Gurgaon.