Bengaluru top in job creation, Delhi, Mumbai come next

Vasudha Zora | NT

Bengaluru: In India’s silicon-valley, Bengaluru, the startups are once again livening up the market with their new ideas and products. After laying low for a while post pandemic, start-ups have begun to dazzle with their remarkable feats, the recent one being the launch of a satellite from Cape Cannaveral by Digantara, a Bengaluru based space startup.

The list of performing start-up and units and their services and products are endless. City with its established IT eco-system has been a source of employments as the sector ventures into new areas and coming out with new products and services.

According to data published by ‘Hirect’, a city based hiring agency, Bangalore has been a hub for high paying jobs for professionals especially working in the IT and engineering sectors. Against the last financial year’s figures, Bengaluru accounted for 17.6 per cent of job creation as against 11.5 per cent in the national capital of Delhi and 10.4 per cent in Mumbai.

The housing market in Bangalore flourished in the previous financial year. According to a study by JLL Show, an Industry analyst and management services firm, Bangalore recorded a sale of 46,649 residential units followed by Delhi with 38,356 units and Mumbai 46,779 units. Banaglore and Mumbai housing market together dominated the seven markets in 2022 accounting for 2,15,666 sold residential units.

Rupa Rani, Entrepreneur and founder of Forum of Women Entrepreneurs said, “The technology sector is growing eminently, but alongside healthy food production sector is also taking shape. Many are involved in growing organic vegetables, millets, pulses. The major problem is that there are too many ideas and very few investors.” Rupa further said adding that proper training to budding entrepreneurs can help them find a way to attract investors.

She said a good review and market research could help entrepreneurs find the right product capable of grabbing the attention of the customers and the market. A large number of people were laid off in the wake of pandemic. With nothing to fall back on they started to look at constructive options for making a living and enrolled them to face up to the situation.

The Minority Department under the Amruita scheme empowered 22 candidates belonging to the backward communities with a total release of Rs 172.5 lakhs and the committed grant of 345 lakhs. Rupa said many government schemes provide newcomers with proper training for handling their business. They are also provided with certification which allows them to get licences from their respective industries.

Incubation centres and mentors start from spoon feeding the newcomers and bring them to the level of attracting investors as the idea in itself will not attract the money. But the understanding of how money works will definitely attend to a broader spectrum of subjects that cover everything from product creation, to marketing, pricing and so on and so forth.

Sister duo Rhea and Yeshoda Karuturi from Bangalore won an investment offer of 1 crore at the second season of Shark Tank India from Peyush Bansal, Co- founder of Lenskart and Aman Gupta, Cofounder of Boat. Again, Digantara, a Bangalore based space startup launched their Satellite from Cape Canaveral on 3 January this year.

All this is just the beginning of expansion of the startup eco-system in the city. Many more success stories are sure to come out of the efforts of trying and taking the road less-travelled in the days to come.