Startups Outgrow The Boundaries Of Bangalore
Bangalore is an unbeatable hub of startups. It has witnessed a boom of startups, entrepreneurs, and investors and is definitely the favourite destination for all prospective startups. But the good change is, the startup culture is now expanding out of the Bangalore boundaries as new startups emerge in different parts of Karnataka like Hubli, Mysore, Dharwad etc. The credit goes to the state government that has beentaking a lot of effort to expand startups across the state. Fortunately, the government is not only promoting online and mobile app based companies, but mainly manufacturing industries. There are many startups flourishing outside Bangalore now like Navya Biotechnologies which is located at Hubli, Implantaire from Mysore and many more.
Ideal Time For Tier-2 City Startups
The investors were initially hesitant to support companies that were situated in the other parts of the state, but t hanks to government initiatives, the companies located at Tier 2 cities are able to manage to raise huge funds. This is likely to increase the number of startups in the 2 tier cities. “We want to create a world-class ecosystem even in Tier II cities. This is the focus to mobilise funds for startups. We also have a strong mandate for social innovation to build social impact,” said V Manjula, Principal Secretary.
Apart from the help with the fund raising, the government is also reserving ten percent of the funds for women entrepreneurs. With an immense support and back up like this from the government, startup innovation will be at its peak.