Funding is available for startups based on many factors
There will be a total transformation of ecosystems in most of the tier-1 cities to enable startups over the next 5-10 years
Funding opportunities depend on in what problem the startup is trying to solve in the respective sector. Startups should be able define the problem they are planning to solve and exhibit the resourcefulness to achieve it
Q. Some say that it’s better to set up startup in Bengaluru instead of other cities including Hyderabad as venture capitalists and angel investors are based in Bengaluru. Is it not easy to raise funds for a startup if it is set up outside Bengaluru in India? - Prashant, Hyderabad
A. It helps to have a robust ecosystem to support startups, especially at early stages. Bengaluru certainly has an edge in comparison to other cities in India in terms of highly active startup ecosystem. However, other cities like Hyderabad, Gurugram and Pune are in the race to transform their ecosystem too.
In the world we are in today, all companies are technology companies. There is no business which is not relying on technology interface to move forward. In this context, in the next 5 to 10 years there will be a total transformation of ecosystems in most big and second tier cities to enable startups.
Q. How accelerators are useful in building a successful startup? Are there any good accelerators in India? - Ramana Rao, Bengaluru
A. Accelerators are supposed to live up to their core purpose - to accelerate startups to become mature businesses. There are many good accelerators across the world and India has few too.
GSF - a tech focused firm that provides funding & guidance to startups. India Angels Network - an incubator that hand holds early-stage startups. India Accelerator - the first GAN partnered accelerator in India to support startup acceleration.
Google - is actively recruiting startups to mentor, guide and fund potential startups as an accelerator. There are many smaller and sector specific accelerators in India.
Q. I have long experience in mining industry. I am planning to set up a start-up in mining sector. Is funding be available for start-ups in this segment? -Rajendra Kumar, Hyderabad
A. I wish you were more specific about your startup as mining is a big sector. However, funding opportunities depend on in what problem in the mining sector you are trying to solve. Startups should be able define the problem they are planning to solve and exhibit the resourcefulness to achieve it.
All sectors are open for enterprising, and funding is available based on many factors including your core business idea and your competence to convert that idea into commercially viable product or service.