State: Haryana
Language: Hindi, English, Haryanvi
Population: 8,76,900 (2011)
Climate: Sultry, semi-arid
Food: Singri ki Sabzi, Kadhi Pakora
Places to Visit: Kingdom of Dreams, Sultanpur National Park, Leisure Valley Park, Sheetla Mata Mandir, Loha Garh Farms, Biodiversity Park Aravali
Industry Specialization: Fintech, IT, Software, Automobile, Corporate
Birthplace: Rivigo (A billion-dollar logistics startup)

 

Gurgaon, also known as the “Millenium City of India” attracts people for its theatrical shows, museums and temples. It is rich in every sense and has deservingly earned its title as the Industrial and Financial center of Haryana. The city is a hub for its fancy parties during the night and numerous MNCs that employ thousands of people all around the clock.

The Gurgaon ecosystem seems to be booming and rigorously working towards unlocking the true potentials of everyone that is a part of it. The startup ecosystem here is known for its variety of networking events where people gather together, interact, and make connections. The communication between industries is so high tech that finding the right people for various professions has never been an issue. Everyone here has the right dedication to make it big and to build a community where everyone comes together with a common vision of creating an impact.

Read more about the successful startups in Gurugram dominating the business industry –
https://startuptalky.com/gurgaon-startups/

Gurugram, The Ecosystem

Over the past few years, Gurugram has built a rep for its advancements in finance and technology. Drawing a comparison between Mumbai, Bangalore, and Gurgaon, what sets Gurgaon apart is how the ecosystem here is more business-oriented than tech-oriented.
Nearly every massive corporation has an establishment in the city. Gurugram also has the third-highest per-capita income in India, the presence of various brands and businesses there is a major factor.

Contrary to popular belief, the Gurugram startup ecosystem has found itself grow from under the shadows of the Delhi startup ecosystem- only to blossom into one of the newest and most supportive ecosystems in the country. Oyo, Zomato, PolicyBazaar, Cars24, Rivigo, ShopClues, MamaEarth, Plus Offices – Gurugram has given the country stellar startups, ones that have amassed huge popularity.

Funding

Where there’s greatness, money follows. There is a lot of money that flows into Gurugram given how they’re one of the leaders of finance and technology in the country. Some have said that they could possibly give Bengaluru’s ecosystem a run for their money! Although that doesn’t seem to be the case, one cannot possibly undermine the progress that Gurugram has made over the past few years. In 2018, Bengaluru raised USD $4351 Mn where Gurugram raised USD $3046 Mn!

Read more about how the Gurugram Ecosystem has progressed and evolved over the years-
https://economictimes.indiatimes.com/small-biz/startups/gurgaon-has-evolved-from-being-an-agrarian-powerhouse-to-a-startup-city/articleshow/59134826.cms?from=mdr

That having been said, startups in Gurugram have seen no dearth of funding. Oyo Rooms (USD $806.75 Mn), Zomato (USD $150 Mn), 1Mg (USD $15 Mn), MilkBasket (USD $14 Mn), and Lifelong Online (INR 40 Cr) are setting examples for the startups in Gurugram and across the country, having raised millions in funding.

The Gurugram ecosystem has been astounding in terms of producing Unicorns and Soonicorns in the country. GreyOrange, PolicyBazaar, MobiKwik, and OfBusiness are some of the illustrious names on the list to be Soonicorns. Gurugram has contributed to making the Delhi NCR the most thriving ecosystem in India.

Lok Capital Group, YourNest Venture Capitals, Sequoia Capital India, Blume Ventures, and many more such VC firms operate in the Delhi NCR. Canaan Venture Partners, Saif Partners, Lightspeed Venture Partners, Helion Ventures, and One97 Mobility Fund are some VC firms headquartered in Gurugram. There’s also an abundance of angel investors in the city.

Incubators, Accelerators, and Stakeholders

Gurugram’s newfound popularity can be attributed to the vigor in the ecosystem that has been seen in the past few years. The contribution of the ecosystem stakeholders has been invaluable- one such stakeholder being Headstart Gurugram. A newly founded chapter of Headstart Network Foundation, HS Gurugram has been instrumental in building a community for budding and existing entrepreneurs.

Having organized events since Day 1, they’ve established an indispensable community and have established a significant presence in the ecosystem. In a little under 2 years, Headstart Gurugram has changed the lives of 721 entrepreneurs and counting through their Startup Saturdays, Workshops with Industry Leaders, and Networking Sessions.

Providing a platform for startups to grow is probably one of the highlights of the Gurugram ecosystem. Startup Incubator cum Centre of Excellence in Government PG College Panchkula, IoT Centre, UNTIL, Mobile Application Centre, are some of the government/academic run incubators in the city- the list for non-governmental/academic incubators runs too lengthy.

Ecosystem Enablers in Gurugram have been the reason why the ecosystem has skyrocketed in the past few years. Co-working spaces and accelerators often operate under collectives to help startups in the city. India Accelerator, GHV Accelerator, and The Circle are some very well-known accelerator programs in the city.

Read more on how incubators in Gurugram help startups become real-world ready –
https://economictimes.indiatimes.com/north/business-incubators-in-gurgaon-help-start-ups-become-real-world-ready/articleshow/13445122.cms

Government

The Government of Haryana has been extremely supportive of startups, making laws that favor entrepreneurs. Not only that, but the city itself is also practically built for entrepreneurs! It thrives on good ideas, which have made it the mammoth that it is today. The abundance of co-working spaces, a steady ecosystem, and the availability of investors, management resources complementing the cosmopolitan life offered by the city, and those that surround it, make Gurugram an ideal place to establish a startup.

Conclusion

The ecosystem had initially started off very small and rigid and without a doubt has drastically evolved. The dynamics have now changed for the better. Earlier, everyone was fairly new to entrepreneurship and there was no word of success stories. A big hurdle that the ecosystem has had to cross is the lack of mentorship and guidance for the early-stage startups.

Today, decentralization in terms of industries is slowly taking place and the ecosystem is extremely alive in terms of ideas and creativity. People here ooze excitement and information that they want to share with one another.

Even the best of the ecosystems need constant improvements and Gurgaon is a classic example. The city is working towards an increased clarity of thought and attempting to remove a layer of lack of trust within the ecosystem. While hand holding of early-stage startups has drastically reduced, there is still a long way to go.

In a nutshell, the Gurgaon ecosystem strives to not only bring about a change in their own city but to also create an impact all around the world. Ups and downs are a part of the ecosystem, what makes all the difference is how the people here thrive to keep going until they reach their final destination.

Contributed by:

Anoushka Chopra & Sanskriti Bhatnagar
Headstart Network Foundation