Welcome to Silicon Valley, Bangalore!
- Author Crystal Goolcharan
- Published August 1, 2018
- Word count 432
When you mention the phrase Silicon Valley, most people immediately think of San Francisco, CA, and justifiably so.
However, there is a rapidly growing group of highly skilled and driven engineers in Bangalore, India that are quickly making names for themselves in the tech start-up ecosphere.
The rise of Bangalore as a tech startup city was a relatively recent phenomenon. The original founding began in the mid-70s when the Indian government appropriated land on the outskirts of the city for the sole purpose of developing an electronics haven for IT start-up companies. A city in which the country's best and brightest would gravitate to. Their prophetic dreams came true and companies were drawn to Bangalore like moths to a flame.
In the early 80s, companies like Infosys, Wipro, and most notably Texas Instruments relocated to Bangalore. Companies and government officials recognized that Bangalore was a fertile area for young and ambitious engineers. The educational system had restructured their budgets and reallocated resources into teaching computer science and engineering. It wasn't a cornfield, but they built the foundation and they came.
Global IT companies like Texas Instruments felt an overwhelming compulsion to set up shop in Bangalore given the enormous pool of skills workers, the low cost of labor relative to the US and European markets, as well as the economic incentives offered by the Indian government.
As of 2017, the Bangalore economy owns a significant percentage of India's GDP at about 35% of 2.5 million of India's IT professionals. Estimates of the city's GDP vary widely from modest one of $45 billion to $83 billion (PPP GDP).
Like Silicon Valley, California, the Bangalore economy has created a significant concentration of wealth for the successful IT start-up firms like Flipkart and Ola Cabs.
Reminiscent of California 'Gold Rush' of the 1850s, many venture capitalists and brokerage firms like Goldman Sachs began calling Bangalore home in search of wealth and opportunity.
Top ten cities for technology and telecom billionaire wealth worldwide, 2015 (in billion U.S. dollars-Statista.com)
Not only has Bangalore become a concentration of wealth, but those successful start-ups have begun showing off that wealth in order to attract the best and brightest in an increasingly competitive marketplace. Shown above is the lobby for the new Flipkart building located in Bangalore. The contemporary look, feel, and architecture of Bangalore offices now rival those of western cities like New York and Berlin.
In highly dynamic and competitive global tech and labor markets, Bangalore has proven itself to be an up and coming force to be reckoned with. The future of start-ups both near and far looks very bright.
Rate article
Article comments
There are no posted comments.
Related articles
- 5 Best Mortgage Brokers for Bad Credit UK
- 7 Best Mortgage Brokers in Derby
- Maximising Space and Efficiency: The Power of Dual-Purpose Fitness Machines
- Types of Eco Friendly Food Packaging
- Where Can You Find Lighting Stores in Brampton to Illuminate Your Home & Office?
- What Are the Top Real Estate Videography and Photography Services in CA?
- The Rise of Employee Performance Monitoring Tools: Balancing Productivity and Privacy
- **My Vietnam Trip in a Nutshell: A Journey Through Youth, Chaos, and Discovery**
- How to Find a Reliable Magnetic Lash Manufacturer: A Guide for Beauty Entrepreneurs and Salon Professionals
- How the IRS Is Cracking Down on Tax Debt (And What You Can Do About It)
- Beat U.S. Tariffs: China Global Sourcing & Investment Summit
- Protect Your Hockley Home: Why Professional Gutter Cleaning is Essential
- What Makes 24/7 Home Care in the City of London a Trusted Solution for Compassionate & Professional Support?
- Fast & Secure Money Transfers to Morocco – No Waiting, No Worries
- Creative Ways to Use Rustic Carved Doors in Boho Ranch Style
- Top 5 Best Fee-Free Mortgage Brokers in UK
- Do Modern Chandeliers Feature Geometric Shapes and Mixed Materials for a Bold Statement?
- Why You Need a Professional Real Estate Photographer in Northern Nevada?
- BEHIND THE LENS: THE MAN WHO OUTPACED SUPERMAN
- THE MAVERICK
- Sacred Spaces Inspired by the Five Elements
- Tree of Life Carved Wall Art & Custom Doors by Mogul Interior
- Heritage Reimagined: Repurposed Indian Bridal Trunks, Lotus Ceiling Coffee Tables
- Data-Driven Dollars: Why Your Personal Finances Need Data Science in Today's Economy
- Why You Need an Architect for a Self-Build Project
- Freight Price Rules in Business Central for Transparent Shipping Costs
- Why Plan B Is My Super Power
- Tofu Takes the Spotlight: A Lifesaver for Vegans and a Rising Culinary Star
- What Are Branded Pin Badges and How Can They Help You Elevate Your Business?
- Understanding the Soi Dogs of Thailand: Are They Friendly and Should Tourists Be Concerned?