BANGALORE, India — The startup community is booming around the world. Entrepreneurship is commonplace and, for many reasons, a successful way to create and expand new markets. Beyond economics, entrepreneurship often makes a positive impact on communities and can invoke social and environmental reform. For this reason, TechHub, a global company that creates spaces for tech entrepreneurs to connect, established a site in Bangalore in early July.
In Bangalore, the third largest city in India, startups have become important in improving the country’s economy. Approximately 400 million Indians live on less than $1 a day, and income inequality has doubled in the past 20 years.
Although India has been concentrating on Information Technology (IT) and manufacturing, expansion has not been significant. Experts see entrepreneurship and startups as an essential market in India, both for social and economic improvement.
TechHub Bangalore launched on July 9 with a goal to expand 1,000 Bangalore startups over the course of three years. The company provides both virtual and physical workspaces in which entrepreneurs can share ideas and learn from one another, with the goal of helping startups to become successful.
In these spaces, TechHub hosts events, advice sessions and networking opportunities for entrepreneurs to build relationships, develop ideas and interact with each other. TechHub members range from first-time entrepreneurs who are just starting out with an idea to those who are already successfully selling products to companies.
The new Bangalore space is one of six other locations around the world, including Berlin, London, Riga and Swansea.
Bangalore, known as the ‘Silicon Valley’ of India for its IT and startup focus, has vast expertise in software and technical skills. However, most of the success is in the education, e-commerce and mobile applications sectors.
Startup experts say Bangalore entrepreneurs lack design experience, which may be inhibiting their success. Bangalore startups generally address problems within India, rather than catering to the global audience.
And that’s where TechHub comes in. Company leaders see potential in linking Bangalore startups with European companies; it is a unique opportunity for entrepreneurs in the city. TechHub will be launching several initiatives in the coming months to begin connecting Indian startups with markets in the United Kingdom, Europe and the United States.
“TechHub’s community-led approach will bring a new catalyst to startups in the city. Our program, events and spaces will be effective tools while our international network will help Bangalore startups go global,” said TechHub Bangalore co-founder Stewart Noakes in a press release. “It is great to have been able to bring something so special to Bangalore as part of expressing our gratitude to this wonderful city.”
To begin its work, TechHub will focus on developing a group of startup leaders to mentor the new community of TechHub Bangalore members. As startups sign up for membership at the new site, they will gain access to TechHub’s global network, connecting them with other members around the world.
This network, coupled with the collaborative community the company encourages, will help expand Bangalore’s startups.
TechHub is essential to expanding the ideas of India’s entrepreneurs into a global network. By pushing boundaries, sharing ideas and providing a space for minds to connect, TechHub is opening doors for one of India’s most creative cities.
“Our vision is to be the go-to community for every tech entrepreneur around the world and we are thrilled to be launching in Bangalore, a city with great universities and talent and the home of startups in India,” said CEO and co-founder of TechHub Global Elizabeth Varley.
– Julia Thomas
Sources: Bangalore TechHub 1, Bangalore TechHub 2, Business Insider, DNA India, YourStory
Photo: The Next Web