India is an emerging economy and like is the case with most emerging economies the growth engine is powered by a few business verticals which would in turn empower several others to take off. For India and the Indian middle class, IT has undoubtedly been a huge prime mover, a platform that has transformed a million lives. It was the 80s, when Indian companies like Infosys and Wipro started and US companies like Texas Instruments and IBM entered India. Then came large recruiters like SAP and Dell. Bangalore city was the chosen destination and became the epicentre for the Indian IT story.
In the first decade, Indian majors were offering quality services, developing software for accounting, payroll, banking, financial management and similar services, offering a distinct cost advantage – their reason to sustain and grow. The scope and complexity of their services too, expanded over time.
The US companies in India recruited quality engineers for product development and also to support the clients of these companies in the subcontinent. As the concept of networking grew, companies like Oracle and Cisco began their operations in India. And the demand for engineers grew.
The reasons why Bangalore became the destination of choice is interesting. The state governments at that time were progressive and saw potential in Bangalore city as an IT hub. The policies were friendly and encouraging for these companies. The weather was highly conducive and led to the companies choosing the city. Thirdly, the availability of quality manpower with several engineering colleges in the city. In fact, in the mid-80s, Karnataka had over a dozen engineering colleges with students from across India coming in to pursue their education.
As IT evolved, companies also began to post employees on site, sending them to the US/ Europe to execute projects on client locations. This ensured Indian professionals got the required recognition from world markets also giving them invaluable exposure to the ecosystem. So essentially, India’s best talent was being absorbed by the large corporations.
Post 2000 and the dotcom boom, the advent of small sized companies began. In the US and slowly but surely in India. The stock options and takeover culture presented an opportunity that was free, challenging and remunerative for talented tech professionals who began to embrace startups in greater numbers.
However, economic downturns in between have pushed the talent back to the larger corporations which offer them a stable income and for those on H1B, better residence opportunities in the US.
A young country, 65% of India’s population is between 25 and 35 years. The startup revolution in India began post 2008, when businesses worldwide relocated their resources, closed operations and laid off employees. Indian IT professionals, many of them who lost their jobs, saw entrepreneurship as a means to survive with their skills. Slowly, the concept of VCs and investors evolved, many of them from the US, looking for a smart idea to invest and capitalise on.
Post 2015, the Government of India led by PM Narendra Modi gave a big impetus to startups and the Make in India Initiative.
Covid, a terrible pandemic as it was, did more for remote, collaborative working than perhaps any other single incident, technology or practice in the last 100 years. A novel approach for businesses large and small, remote working became the new normal breaking away shackles and resistance to hiring talent and outsourcing work across geographies on projects and assignments across the spectrum.
Recently, Union Minister for Science and Technology Jitendra Singh said the number of startups has grown from 350 in 2014 to over 90,000 in 2023 with over 100 unicorns – the second largest startup ecosystem in the world.
Bangalore has the largest startup ecosystem in India, powered by Karnataka’s engineering talent, and the state has 542 engineering colleges. Today Indian engineering talent is aware of the possibilities, mature and willing to take on challenges to realise their dreams. They have the potential to become respected leaders besides being recognised for their tech skills.
“Indian entrepreneurs never lacked imagination. But, in the last 10 years, the best talent was always limited to corporations. Now, that gap is being bridged. This reverse flow of talent is the most inspiring thing about the B2B startup sector right now.”
Sanjay Nath, co-founder and managing partner of Blume Ventures
At Dayananda Sagar College of Engineering (DSCE), students are imparted the best quality engineering education with a curriculum that incorporates the latest in technologies and platforms, with suggestions from industry experts. The college has excellent infrastructure, modern facilities and a dedicated team of faculty members who work closely with the students to equip them for a progressive career. Students are given exposure to the latest trends in the industry ecosystem with experts addressing them on the skills required, careers, and entrepreneurial opportunities. Our highly dynamic placement cell identifies companies that suit the successful student best to place him/ her in a suitable environment that offers an excellent roadmap.
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