The total number of startups in the NCR is 4,218 but guess what, Gurgaon is not topping this list.
While Noida contributes to 20% of the total number, with 784 startups, Delhi still has the lead with 45% — concentrated mostly in South and Central Delhi. Nationally, Gurgaon comes fourth on the list, behind Bangalore with 3,641 start-ups, Mumbai with 2,317 and Delhi with 1,958.
This was revealed to TOI by Xeler8, an online start-up and investor database.
Xeler8 data shows there are 1,476 startups in Gurgaon, including big names like Oyo Rooms, Zomato, Urban Clap, ShopClues, Yepme, Delhivery, Ixigo and MakemyTrip. “In terms of funding, Gurgaon has received $1.02 billion across 134 deals in 2016, compared to $1.189 bn across 121 deals in 2015,” said Rishabh Lawani, founder of Xeler8.
Talking about what makes Gurgaon an attractive market for entrepreneurs, founders investors and other industry people said with a young, vibrant and cosmopolitan population, the city offers a perfect test market, especially for consumer products and services.
“As an entrepreneur, you are exposed more to the nature and nerve of the Indian consumer in Gurgaon and Delhi, compared to Bangalore. That’s why many consumer oriented companies, such as Zomato and Snapdeal, are based here,” said Niraj Singh, an investor in Outbox ventures.
He added that within the National Capital Region, Gurgaon offers a more liberal audience. Sumeet Swarup, regional manager of Nasscom’s Startup Warehouse initiative, agreed, saying Gurgaon has a mix of both tangible and intangible assets for startups.
Swarup said, “Gurgaon remains an ideal start-up hub due to an ideal combination of venture capitalists and new-age companies, along with a young crowd and a liberal environment, which make a perfect market for entrepreneurs.”
Startup Warehouse recently conducted a research which has thrown up numbers that support the assertion. According to the data, of the total funding received by tech start-ups in India in 2016, around 30% was received by start-ups in Gurgaon.
Though the city might still be lagging behind Bangalore in the availability of talent in technology, yet, it has been attracting a lot of young talent over the last few years. “Gurgaon has been attracting and accommodating a lot of young talent across fields of expertise, which is a prerequisite for any enterprise,” said Vishal Sharma, VP (operations), ShopClues. He added that beside being a corporate hub, the city hosts a rich talent ecosystem, ideal for setting up any business. “Office spaces are modern and new and costs are a fraction of what one would have to pay in Delhi or Mumbai,” said Suhail Vadgaokar, VP (customer and brand experience), UrbanClap.
In the NCR, Gurgaon has an edge due to availability of quality office space at comparatively affordable prices. Niraj Singh said, “Delhi only has Okhla and Nehru Place to offer as office space, which does not attract start-ups. Noida is mostly avoided by small start-ups, possiblly due to its poor law and order record.”