Presently, India has emerged one of the most vibrant startup ecosystems in the world and could be the third largest ecosystem by 2024. The entrepreneurial landscape has become explosive with the number jumping from 50,000 in 2018 to over 140,000 in 2024 and has been spurred by innovative ideas, flows of investment, and a considerable pool of talent that is currently changing the country into one of the global hubs of entrepreneurship. As the Hurun India 2024 on Self-Made Entrepreneurs of the Millennia, Bangalore, Mumbai, and Gurugram are now considered to be the center for entrepreneurial activities.
Hence, these three cities listed above are the major success and prized startups found in India, which are crucial for the country’s progress. Bengaluru is known as the “Silicon Valley of India” because most entrepreneurs and innovation companies in the region cluster around this place. Mumbai is close to it since it is the financial capital of India. Hence, good access to capital along with an excellent business ecosystem can be availed here. Thus, this diverse nature of startup clusters makes Gurugram a fast developing technology and business-friendly city relative to the recent period. This blossoming ecosystem is transformed not only in the formation of the Indian economy but in the ranking given the position this country has taken within a list of innovative countries at worldwide level.
Top startup cities in India
Leading startup cities in India 2024
India’s startup ecosystem has witnessed a meteoric rise in the recent past, and the country has been ranked as the world’s third-largest startup ecosystem in 2024. Hurun India’s 2024 report on Self-Made Entrepreneurs of the Millennia has ranked cities based on the number of successful, self-made entrepreneurs leading significant startups. This ranking highlights the cities that have become hotbeds of innovation and entrepreneurship, making a substantial contribution to India’s growth as an economic powerhouse.
Bengaluru (98 Entrepreneurs, 66 Notable Companies)
Bengaluru is generally considered the “Silicon Valley” of India and undisputed leader of the startup ecosystem of the country. There are 98 entrepreneurs and 66 of the most noted companies here that have established their signature in Bengaluru. Most have credited the origin to be here when India has come up with its most successful technology ventures. There is an entrepreneurial spirit that this status provides as the city ranks as a world hub in technology.
Bengaluru is home to one of the biggest and most innovative companies in India, which happens to be Zerodha- the country’s leading stock brokerage platform, spearheaded by its founders Nithin Kamath and Nikhil Kamath.
It has deep talent pools of engineers, IT professionals, and software developers. Because of this, it remains one of the most alluring destinations for tech startups. Moreover, Bengaluru is associated with an active venture capital network, which helps the sustenance of many companies there. Its infrastructure, connectivity, and access to various resources make it the highest destination for entrepreneurs in the country.
Mumbai (73 Entrepreneurs, 36 Notable Companies)
Mumbai is the financial hub of India and one of the major states in the entrepreneurial scenario in the country. Being at number two with 73 entrepreneurs and 36 significant companies, the business finance and industrial might have attracted Mumbai as the center. The entrepreneur who has created Avenue Supermarts or DMart, Radhakishan Damani, has made this city the retail and e-commerce start-up hub.
It has good financial infrastructure and attracts capital and resources to the startup sector of retail, fintech, and entertainment, bringing together a very broad market with an international financial hub with great infrastructure, one of the top contenders in the entrepreneurial ecosystem of India.
Gurugram (34 Entrepreneurs, 31 Notable Companies)
Gurugram is one other important city, as a hub located close to New Delhi, which features 34 entrepreneurs and 31 prominent companies. The hub has emerged as one of the most significant business cities and tech with an accommodation for industries in every e-commerce and fintech company among other IT services. Among the notable companies established there, is Zomato-a popular food delivery application-by Deepinder Goyal.
Gurugram is a major business destination because the city is just a stone’s throw from New Delhi, so administrative and business resources in the national capital are instantly accessible. Modern infrastructure that comprises IT parks, office spaces, and coworking hubs has helped it evolve into an innovation center.
New Delhi (51 Entrepreneurs, 15 Notable Companies)
New Delhi is the capital city of India and placed fourth with 51 entrepreneurs and 15 notable companies. New Delhi-based entrepreneurs include Vijay Shekhar Sharma who founded Paytm. Paytm is one of India’s biggest fintech firms offering wallets and payment options.
Delhi is the buoyant entrepreneurial ecosystem and especially in the fintech, edtech, and e-commerce segments. When talking about infrastructure and its closeness to governmental institutions, Delhi offers networking opportunities, influences policy, and access to funding for any start-up, and hence New Delhi shall remain an element which shall be very high as a position of India’s startup culture and also boast more of self-made entrepreneurs.
Chennai (16 Entrepreneurs, 12 Notable Companies)
Chennai was an automobile and manufacturing city; it is now in the fifth position with 16 entrepreneurs and 12 notable companies. Entrepreneurs such as Vasant Sridhar, who have founded the B2B platform OfBusiness for SMEs, have helped in diversifying the entrepreneurial profile of Chennai to be much more tech-driven and industrial startups.
Chennai has an industrial base, which makes it strong with a qualified workforce, mainly in industries like automotive, information technology, and healthcare. Its entrepreneurial culture is growing and increasing day by day in areas such as fintech, software, and education.
Pune (15 Entrepreneurs, 7 Notable Companies)
Pune is in the sixth place with 15 entrepreneurs and 7 significant companies. Pune has, over time, developed specific niches for itself in areas such as information technology, education, and e-commerce. Amongst such stalwarts of e-commerce stands Firstcry, co-founded by Supam Maheshwari, Sanket Hattimattur, and Prashant Jadhav.
The city is known for its thriving startup culture, driven by its educational institutions, research centers, and tech parks. Pune has also become a destination for tech talent, which further supports its growth as a startup hub.
Hyderabad (11 Entrepreneurs, 6 Notable Companies)
Hyderabad ranks seventh with 11 entrepreneurs and 6 notable companies. Known for its role as a technology and pharmaceutical hub, Hyderabad is home to Nandan Reddy, co-founder of Swiggy, India’s leading food delivery platform.
Hyderabad’s burgeoning startup ecosystem has received tremendous support from several thousand technology companies, including in the software development sector, e-commerce, and healthtech. The reason Hyderabad appeals is that its cost of living is low, talent pools are abundant, and the infrastructure is very strong.
Ahmedabad (10 Entrepreneurs, 6 Notable Companies)
At the eighth position is Ahmedabad with 10 entrepreneurs and 6 notable companies such as Eris Lifesciences, whose CEO is Amit Bakshi. Strengths are there in manufacturing, chemicals, and pharmaceuticals, which increasingly position Ahmedabad as an innovation hub. The city enjoys a favorable business climate due to low operating costs and a strong industrial infrastructure. Its growth in the startup ecosystem has been driven by ventures in industries such as healthcare, retail, and software development.
Kolkata (7 Entrepreneurs, 2 Notable Companies)
With an entrepreneurial ecosystem smaller in size, Kolkata is at the ninth position with 7 entrepreneurs and 2 notable companies. Ravi Modi is from Kolkata. He founded Vedant Fashions with the Manyavar ethnic-wear brand, and Kolkata is his place. Kolkata is still in its infant stages compared to other big cities, but it has been promising especially in retail and fashion. The potential for growth lies in this city as more entrepreneurs spring up in the region.
Jaipur (6 Entrepreneurs, 2 Notable Companies)
Rounding out the top 10 is Jaipur with 6 entrepreneurs and 2 notable companies, such as CarDekho, by Amit Jain and Anurag Jain. The company is a popular online portal for buying and selling cars. Although Jaipur’s startup ecosystem is pretty small, in the past few years, it has indicated significant potential. The cost of doing business in this city is pretty low and it is now emerging as a hub for e-commerce and digital services.
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