How Tier 2 and Tier 3 cities like Jaipur, Indore and Surat are emerging as startup hub
According to recent report, Tier 2 and Tier 3 cities are emerging as a favourite spot to development start-ups in the country.
Reportedly, 50% of the recognised start-ups in India are based in Tier 2 and Tier 3 cities, fuelling the country’s economic growth and driving socioeconomic transformation on a global scale.
Delphin Varghese, Co-Founder & Chief Business Officer, Adcounty Media told Livemint that better infrastructure support, quicker internet, favourable working conditions, better transport communication and accessibility to an immense talent have contributed to start-ups boosts in small cities.
“There is a lot of potential in start-ups in Tier II & Tier III cities that needs to be tapped. India is emerging and a true indicator of this is entrepreneurs daring to dream big in smaller cities. Small town talent is getting right boos due to technology and internet penetration combined with a renewed self-confidence,” said Pushkar Limaye, Co-Founder and CTO of Carnot Technology funded by Mahindra& Mahindra.
The Livemint report identified cities like Jaipur, Ahmedabad, Indore and Surat with an economic growth rate of over 40% due the larger spaces available at low and affordable costs, enabling startups to operate at a larger scale.
“The cost of living and survival is also lower in these cities. The people mindset is changing at general, regarding startups in these cities. Availability of both skilled as well as unskilled people at an affordable cost in comparison to tier 1 cities,” Dr. Vishesh Kasliwal, Founder, Medyseva told Livemint.