Mumbai Cements Its Place In The Increasingly Emerging Start-Up Market

Nandini Mukherjee, Managing EditorWith a growing number of start-ups being established in India each year, the country is bustling with more start-up energy than ever. Playing a very important role in India’s burgeoning start-up scene is its financial capital. Riding high on entrepreneurial zeal in the recent times with the abundance of venture capitalists, growth funds, educational institutions and incubators, Mumbai’s growth is a glorious chapter contributing to the success of the start-up ecosystem. In fact, the city’s start-up ecosystem is ranked 3rd in India and 32nd globally. With major fintech innovations happening in the city and with increasing co-working spaces along with government supporting startups, Mumbai has certainly became an attractive hub
for start-ups across the financial, consumer services, media and retail sectors.

The city has seen many new start-ups arriving at the block with some really innovative ideas. A current list of start-ups in Mumbai reveals a growing number of companies that are based in artistic endeavors, with highly technical aspects. Apart from housing, the city has also seen other innovative start-ups in fields such as e-commerce, analytics and consumer focused services. According to a joint study by KPMG India and TiE Mumbai, Mumbai now has an active startup base of over 9,000, with ecommerce, enterprise tech, and fintech ranking as the most popular sectors. Also, the presence of prominent venture capital firms such as Sequoia Capital and Matrix Partners have influenced the growth of such start-ups.

With great connectivity with other countries, a growing number of co-working spaces, a massive consumer base, more and more start-ups have driven the growth of the city, created jobs, increased access to resources, education and healthcare, resulting in falling poverty levels and improved lifestyles. The ripple effect of this burgeoning start-up energy is extending beyond just the commercial hub. In the coming times, this start-up energy would be something that businesses and investors would look forward to!

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