The Silicon Review - Best Business Review Magazine 10 Best Startups of the Year 2019 Asia | Page 52

Silicon Valley-born Start-up
“Bangalore’s start-up ecosystem was built up gradually over the past two decades with greater
acceleration in the past decade and big venture capital/private equity money flowing in over the last
three-to-four years.” – Prasanto Roy, a Tech Policy Consultant
B
ack in the day, Silicon
Valley was well-known
for its start-up culture;
it became the focal point of
the tech revolution. With the
time, the revolution has spread
to other cities of the world
such as London, Frankfurt,
Singapore, Melbourne, Manila
and Bengaluru. The new wave
is proving to be more real
world-based– attempting to
change the way every industry
functions, whether it’s fintech,
medtech, adtech and ride-
hailing.
According to a report published
by India-based newspaper The
Hindu, AOL founder Steve Case
terms what’s happenings now
the Third Wave of the Internet
revolution. Now the question
is what were the first two. Of
course, the establishment of
the Internet itself was termed
first and the second one was
Internet search, apps, social
media and suchlike.
“We are seeing in this third wave
of the internet entrepreneurship
both regionalized and
globalized... So Silicon Valley is
great and will continue to be
great, but I think we’ve probably
hit peak Silicon Valley and
we need to figure out ways to
have a more diverse, inclusive
innovation economy,” Mr. Case
told CNBC in a TV interview.
“So we can’t just be backing
the entrepreneurs in places like
Silicon Valley, we also need to
back them... in a lot of different
cities in the United States as well
as obviously many countries
around the world,” Mr. Case
added.
Bangalore’s
Engineering Prowess
Proves Rewarding
The factor that makes
Bengaluru stand out from
the other start-up destinations
in the worldis it became home
of many global companies
in the early days of the tech
revolution. In addition,
among the other factors
that make the IT city suitable
for the tech corporations
to run their operations
smoothly is its engineering
prowess, according to the
GSE report.
The Hindu report clarified
that in Bengaluru out of
total 94 percent of start-up
founders have an engineering
background, which is higher
than any place in the world.
And out of a total of 1,000
companies (involved in Internet
of Things), over 500 are based
in and around the city.
“Bangalore’s start-up ecosystem
was built up gradually over the
past two decades with greater
acceleration in the past decade
and big venture capital/private
equity money flowing in over the
last three-to-four years,” says
tech policy consultant Prasanto
Roy.
According to Mr. Roy, “Delhi/
NCR toohas a thriving start-up
culture and ecosystem and many
co-working spaces, both possibly
more than Bangalore.”
Global Start-up
Ecosystem Report
2018
According to this year’s Global
Start-up Ecosystem (GSE)
report, what’s happening