Bengaluru, the capital city of the State of Karnataka is known as the Silicon Valley of India. It has a population of around 11 million, making it the third most populous city in India. It is a demographically diverse city and the second fastest-growing major Metropolis in India. Bengaluru is not only famous for its IT sector but also for its rich heritage and culture. It is also well known for its green spaces and numerous gardens throughout the city.
Though historical references to the city predate 900 CE, the written history of permanent settlement only exists from 1537. Modern Bangalore is founded by Kempegowda 1, who built a mud fort and a Nandi temple. He referred to the new town as “Gandu Bhoomi” or “Land of Heroes”.
During the British era, the administrative control of Bangalore fell to the Maharaja of Mysore. The kingdom of Mysore moved its capital from Mysore city to Bangalore in 1831. In 1906, Bangalore was the first city in India to have electricity powered by a Hydroelectric plant situated in Shivanasamudra. In 1927, the Silver Jubilee celebrations of the ruler Krishnaraja Wodeyar were held. To mark the celebrations many projects such as the construction of parks, public buildings, and hospitals were instituted to beautify the city thus earning the name the “Garden city of India”.
In the year 1940, Jamsetji Tata, the founder of TATA Group set up the Indian Institute of Science (IISC) to promote education and research.
Established on 23rd December 1940, Hindustan Aeronautics Limited (HAL) is one of the oldest and largest aerospace and defence manufacturers in the world today.
Plenty of opportunities in public sector employment and education in Bangalore saw the arrival of many immigrants.
By 1947, when India attained Independence, Bangalore was designated as a manufacturing hub.
In 1969, the establishment of the Indian Space Research Organization(ISRO) marked the city as “India’s Space City”.
By the 1980s urbanization had spilt over, and Bangalore Metropolitan Region Development Authority was established to coordinate the development of the entire region.
Evolution of Bangalore
Once known as the “Garden city of India”, Bangalore slowly started to evolve as the “Silicon Valley of India”. Due to many job and education opportunities, many migrants from all over India wanted to settle in Bangalore. The most attractive feature was the “Air-conditioned climate” round, the year that attracted many to settle in Bangalore. It also attracted many companies to set up their base in Bangalore which meant that scientists, engineers, and academics came and settle here as well.
- First Companies started: Companies like Hindustan Machine Tools (HMT), Bharat Electronics Limited (BEL), Bharat Earth Movers Limited (BEML), Indian Space Research Organization (ISRO), and National Aerospace Laboratories (NAL) set up their headquarters in Bangalore. In 1985, Texas Instruments was the first multinational company to set up a base in Bangalore.
- Bangalore’s rise as an IT hub: In 1969, Ram Krishna Baliga joined BEL. He envisioned making Bangalore the “Silicon City of India”. The then Chief Minister of Karnataka, Mr D. Devaraj Urs supported his vision and made him the Chairman of Karnataka State Electronics Development Corporation (Keonics). In 1978, the first phase of Electronic city on 332 acres was completed. This development led to the establishment of several firms. In 1991, India underwent economic Liberalization which further boosted the smooth flow of multinational companies into India, especially Bangalore. It is also India’s fourth largest Fast Moving Consumer Goods (FMCG) market and the third-largest hub for high-net-worth individuals. The IT companies located in the city contribute to 33% of India’s IT exports.
Startup Capital: Bangalore is also known as the Startup Capital with a new startup flourishing almost on a daily basis. It is proving to be one of Asia’s fastest-growing startup ecosystems. It is known to be the cradle of new-age startups. Now the question arises “Why Startups?”. The answer to this can be as simple as great working opportunities and also add tons of advantages for one’s resume, skill tree, and quality of experience.
Famous startups in Bangalore
Mentioned below are some of the startups from Bangalore:
- Digit Insurance
- Ather Energy
- Ola Electric
With Prime Minister Narendra Modi’s “Make in India” initiative and emphasis on startups, the city has been quick to emerge as a playground for entrepreneurial enterprises.
Bangalore’s startups that have gone global
Be it a large MNC or a startup, Google map will show you one of its offices in Bangalore. And the most surprising thing is it’s going to be the company’s headquarters that will show up. According to a 2019 report, Bangalore has the third highest number of startups in the world. Below listed are some of the successful startups that were born in Bangalore and went global:
Bangalore is the 2nd fastest growing metropolis in India. The influence of corporate firms in spatial decision making is exercised through influences on Departments of the State Government. The city has gained great visibility in the world economy owing to the phenomenal growth of the IT sector in a single location in the context of a developing country. There is evidence of a long history of scientific excellence of various colleges and research institutes in Bangalore that have led to development of the IT industry.