India was ranked as the 3rd largest startup ecosystem, according to a report by NASSCOM. It is a startup ecosystem with more than 200 active angels, 150 VCs, 100 accelerators. Around 4200 startups are operating in India. Many technology-based business companies in Kerala have goaded growth, increased entrance to resources, created jobs, health care and education, ensuing in downing the poverty levels, and a better lifestyle. The nation is on the cutting edge of entrepreneurship, innovation, and technology. For the Indian startup ecosystem, 2015 was the year. If one had to consider a place as the startup hub, more precisely a technological startup hub, more accurately a technological startup hub, Silicon Valley is the place they would think about, because it still continues to be the go-to place for tech entrepreneurs and startup visionaries everywhere.
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India actually being home to thousands of startups like Ola, Flipkart, Zomato etc and many international offices like Amazon, Uber, Google, Facebook etc. our country is gradually getting into the big picture. To occupy the position of the next Silicon Valley, best business centers in Kerala is strong enough with the support of strong contestant to all the hubs in the list to be the next Silicon Valley. Here is an illustration of the activities that took place over the past year with some penetrations on how it has developed, and also it will continue to develop.
Increasing connectivity and consumer purchasing power
After China, India is now the second most connected nation in the world, with over 300 million people having access to the internet. In 2015, the whole country spent 169 minutes per day on their smartphones. The invasion of low-cost mobile plans, coupled with low-cost smartphones and laptops have empowered people across the country to connect, especially in rural India. The country still has some way to go in terms of mobile penetration, even though we expect this to rise over time, 23 out of every 100 people on mobile. Driven by the convenience, employment, higher incomes, increased access, and connectivity consumer spending that has been at the cutting edge is set to hit 3.5 trillion by 2020.
Home to a young, vibrant startup scene
With the average age of founders at a mere 28 years, the country is home to some of the youngest entrepreneurs in the world. The ecosystem has witnessed a rising number of successful startups being agitated and exits taking place, showing signs of a growing ecosystem. This leads to build an increase in high-quality mentors, investors, and entrepreneurs with previous experience helping in building and also to drive a new business.
In India, however, less than 10% of all Indian startups engineers and entrepreneurs are female. The numbers are even more ominously in the venture scene. The trend of missing out half the population(female) is consistent worldwide. In early 2015, the survey conducted by Stack Overflow revealed that 92% of engineers across the world were male. An increase in access to funding and a reduction in the cost of building a company from the ground up has been observed in India since time. For sure there will be a rise in more deep tech companies with local innovations like IT centers in Kerala, coming out of India.
Advancing amounts of investments and mergers & acquisitions
Profit from overseas investors, high net worth individuals, non-traditional investors, and a rise in micro VCs resulted in increased valuations. Over the last 12 months or years, highest funded verticals were e-commerce, travel, and food tech. Payments and startups based in Delhi, Bangalore, and Mumbai received the majority of funds invested. To expand operations and user base and also to access the best engineering talent in the country, IT companies in Kerala have been making more acquisitions. In coming years, Indian companies are more likely to enter more overseas tech giants.
Opportunities and future trends
To the analytics industry in India, a rise in tech adoption has given rise. We can foresee more to come from this space both in investment and number of technology centers in Kerala being build because IoT startups have not yet taken the center stage.
To target the Indian consumer there exists an opportunity to bring global startups to India. Like Alibaba and Google, who want to capitalize on India’s growth, we have already observed a surge in them. Indian startup is more likely to go global over the next year, making acquisitions to crack into new markets.
Investing in internet access to the bottom half of the economy still poses a challenge. A large organisation like Facebook, or the policies and actions implemented by the government, it remains to be seen and will be able to alleviate the situation.
Within the country, more Indian cities will give off entrepreneurs to create mini-ecosystems. With access to angels and coworking space in Kerala, incubators and accelerators are important to provide mentorship, resources, and funding in early stages.
Some companies may have to downsize or stop operations as the result of lots of speculation about a potential correction. So those companies with strong fundamentals will strive through the cycle and some great information technology park in Kerala will even be built during this period.
India has managed to overcome multiple adversities over the years, incorporating the dearth in shifting economic environments, infrastructure, and inefficiencies within the system in addition to cultural and social barriers. There are many TIP centers in Kerala that provide more platforms for entrepreneurs in our ecosystem to learn, grow, and produce terrific companies than ever before. Driven, ambitious, hardworking, educated, young, and smart rising middle class has also given rise to a new breed of entrepreneurs. Then only the country can move forward.
Why not startups in Kerala?
With several young and educated minds, Kerala can be a kitchen for startups. From fifth century AD, the technology center in Kerala was an important trading center. There was a dearth of fresh ideas coming from the state, despite the best brains. Today Kerala is fighting hard to woo investors from being in great demand globally.
Most of the relatively lower cost of operations and skilled manpower is available in the southern state that has an evolving startup ecosystem with focus on latest technology, most successful entrepreneurs are flocking towards Kerala when for their next venture. The government wing which takes initiatives to build up a pipeline of startups in the state. After having their first ventures in other cities successful Keralite founders come back to the state to start their second one. Also, many companies from Hyderabad and Bengaluru are coming down to Kerala.
Which is the best coworking space in Thrissur?
Thiru Shiva Peroor commonly known as Thrissur is the fifth largest city, the third largest urban agglomeration in Kerala, and the 20th largest in India. Are you ready to occupy a space in Thrissur district which is well connected to all major towns in Kerala. TIP, an abbreviation of Thrissur it park is one of the best IT center in Thrissur which you can blindly opt for your business. Incorporating all necessary vibrant features TIP is all set to occupy all new ventures.