Is Hyderabad the New Technology Hub for India?
What attracts the up and coming start-ups to Hyderabad? Read to know!
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In 2015, when India's startup ecosystem was on a rise, Hyderabad was still recovering from the birth of Telangana. As the macroeconomic factors blocked the road for growth for this region, Bengaluru became the centre of attention for tech start-ups and global giants. After years of struggle, Hyderabad seems ready to regain the limelight.
Renowned for his contribution to Information Technology, the city has received a serious push from the Telangana government to acquire a serious reputation in the startup ecosystem. With time, the city has become the hot spot for budding entrepreneurs to start up, for investors to fund innovative ideas with exponential growth potential and corporate tie-ups.
Known as the city of Nizams, Hyderabad has showcased immense growth in the past years. From mere 1,500 in 2015, the number of start-ups in the city has grown to 4,000 in 2018. In terms of funding also, the region has come a long way. Needless to say, Hyderabad has always had a strong entrepreneurial DNA but growing awareness about technology has pushed it towards the startup culture.
Upping the Tech Game
While the state is yet to breed big guns like Flipkart and Paytm, it has been a birth ground for a number of technology start-ups. Government efforts to push for innovation have led to the inception of many successful organizations. Tourity, Healthsutra, eKincare, Commut, ZIFY and Zippr are few of the many names from Hyderabad's startup ecosystem to mark a global presence.
With technology as a driver, multiple start-ups have been making inroads to Hyderabad but deep tech has especially been able to overshine the others. Startups working in the field are taking the world by storm due to its enabling power, the potential to catalyse change and the differentiation it can lead to and needless to say, with enterprises by Docturnal, Imaginate, MyAlly doing so well, Hyderabad is leading the way.
Hyderabad has been acing the startup game for a while now. Apart from the state government building the right policies to promote mentorship and development in the city, the better infrastructure facilities work extremely well to attract the people who are looking at starting up. Being one of the most ambitious incubator projects led by a state government, Hyderabad is arguably among the most economic metros in the country.
Apart from the popular technologies like Virtual Reality, Internet of Things and Artificial Intelligence, Hyderabad provides emerging start-ups to try their hands at VFX. Being the hub of production houses for South Indian cinema, the city has an in-grown need for organizations that can produce good quality visual effects, eliminating the need to hire international teams at a much higher cost. Recently, Baahubali actor, Rana Daggubati invested in Anthill Studios, a business accelerator program that focuses on technology startups in Media & Entertainment.