Bengaluru is a popular city for startups in India and is working toward becoming one of the top 10 startup ecosystems in the world by 2035. The IT Minister of Karnataka, Priyank Kharge, recently announced this ambitious goal. He sees a promising future for the city’s growing startup scene.

At a recent event in Bengaluru, the minister emphasised the city’s expected GDP growth rate of 8.5% until 2035, positioning it as an attractive startup hub. The city currently ranks 21st globally.

Kharge expressed the government’s commitment to supporting startup growth in the state, citing the conducive environment for innovation and expansion. Bengaluru-based startups are gaining international recognition, and a new policy is being introduced to help these companies access global markets more easily.

The Bengaluru Innovation Report 2024 was unveiled at the event, highlighting the city’s strengths as a startup hub. Bengaluru is home to 45 of India’s 112 unicorns with a combined valuation of USD 161 billion. The municipality aims to break into the top 10 and eventually rank among the top three startup ecosystems globally.

Kharge also announced plans to expand the startup ecosystem to other regions in the state, like Mysore, Mangaluru, and Hubli-Dharwad, in addition to Bengaluru, which currently hosts 1,500 startups.

The Karnataka IT Department recently awarded grants totalling Rs 60 crore to 263 startups as part of the ELEVATE grant-in-aid program, supporting early-stage funding initiatives such as ELEVATE Kalyana Karnataka, Amrita Startups, and ELEVATE Unnati.

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