Mysore, which is commonly considered as the sister city of Bengaluru, is steadily becoming one of the major start-up hubs in Southern India. Karnataka houses over 13,000 start-ups among the total of 57,000 in the entire country and a significant number of these companies are based in Mysore.
Let’s dig a little deeper to understand the factors that have helped facilitate this growth.
Affordable Office Spaces
It’s no secret that high rentals of office spaces coupled with a hefty security deposit amount are one of the most crucial obstacles for most start-ups. While Bengaluru, India’s Silicon Valley, is a mecca of start-ups, rentals for traditional office spaces are also very steep there. This makes it very difficult for many start-ups to sustain there.
On the contrary, in Mysore, which takes around two hours to reach from Bengaluru, commercial property rentals are far less than those in Bengaluru. By choosing Mysore as their base of operations, not only can start-ups keep their overhead costs low, but they can invest the excess funds in growing their operations as well.
Additionally, there’s no shortage of options of coworking spaces in Mysore. And coworking spaces are famous for offering fully-equipped workspaces that are filled with top-notch amenities at highly affordable membership plans. In fact, these membership plans are way too less compared to traditional office space rentals.
These spaces have flexible lease terms, and many of them only require members to pay one or two months’ membership fee in advance to use them. The presence of many coworking spaces has made it easier for start-ups to operate in Mysore.
Start-ups in Mysore can get every type of support they need to grow their business, from investors to incubators. There are many angel investors, venture capital firms, and individuals who invest in start-ups if they have long-term growth potential. Basically, if you’ve got a genuinely profitable business idea, it shouldn’t be much difficult to obtain funding in Mysore.
Another key factor behind the growth of start-ups in Mysore is the presence of various start-up incubators. These facilities provide start-ups with a comprehensive range of services, from mentoring and offering office spaces to connecting them with investors. Therefore, joining one of the incubators can easily expedite a start-up’s growth.
Moreover, many coworking spaces in Mysore also offer mentoring programs and host professional events where start-ups can connect with potential investors. These spaces also act almost like business incubators.
While Bengaluru has a good infrastructure, things like traffic congestion are a significant problem there. On the contrary, today, Mysore is considered one of the top cities for outstanding traffic management. This is another key factor why budding start-ups are increasingly choosing Mysore as their go-to destination.
In addition to these, start-ups can leverage Mysore’s road and rail connectivity to Bengaluru and other prominent parts of the state to attract clients. Being one of the top tourist spots in Southern India, Mysore receives a significant footfall throughout the year, which also encourages start-ups from different industries to shift base here.