Delhi was one of the top start-up hubs across the world with a global rank of 36th, according to the Global Startup Ecosystem Report 2021. While the capital city was a late entrant in the country’s start-up ecosystem, today it’s one of the most popular destinations for start-ups.
Let’s take a closer look at how Delhi is approaching the start-up culture.
Availability of government initiatives
The Delhi government has collaborated with popular academic institutions to establish incubators and has the physical infrastructure in place for creative enterprises. In March 2016, DDTE, Government of NCT of Delhi started its incubation policy to give INR 1.5 Crore financial support to the region’s higher education institutions to set up incubation centres. Some of the prominent incubators financially supported by NCT include Delhi Technological University, Netaji Subhash Institute of Technology, Ambedkar University Delhi, IIT Delhi, and College of Art. Also, Jasmine Shah, vice-chairperson of DDC, said that a new start-up policy will soon be introduced to promote businesses that will help Delhi become one of the top destinations for start-ups across the globe.
Availability of top-notch coworking spaces
For most start-ups, renting a traditional office space in an expensive city like Delhi is just not a feasible option. Paying a hefty security deposit amount together with a high monthly rent is something that has deterred many start-ups from operating from the city. However, the emergence of a large number of right coworking spaces in Delhi for business has incredibly helped to transform the scenario. Today, all kinds of start-ups can use these fully-equipped spaces by paying a nominal security deposit and an affordable membership fee. Moreover, these coworking spaces offer different solutions to meet the varying needs of start-ups. Whether it’s a team of two or twelve, most of these spaces can comfortably accommodate the requirements.
Presence of a highly-educated workforce
Delhi has always been a leading region for having a large number of prestigious institutions for higher education including IIT Delhi, Jawaharlal Nehru University, Delhi University, and Delhi Technological University. Therefore, no matter which field a start-up operates in, it doesn’t have any problem in finding the right talents. Perhaps this is why you can see a diverse range of start-ups, from consumer services to technology sectors, are successfully operating from the city.
Additionally, Delhi is home to many angel investors and venture capital firms. These actively mentor and fund start-ups to help them grow and achieve their business goals.