5 Reasons why Chennai is becoming- The “hot”spot destination for start-ups in India

Everything that is real was imagined first. Sparks of new ideas are always exciting, isn’t it? The age of entrepreneurship is growing with individuals constantly delving into reality of ideas instead of living within the idea of a reality.

Not surprisingly enough, the buzz word of the K-town has been the growing number of start-ups by budding young minds with commendable entrepreneurial courage to convert their passion and expertise into a brand value.

Having to quit a powerhouse perfect working life that promises a fixed salary and hefty incentives, in order to start a new venture independently can be daunting.

So here are some of the reasons why you are in a promising city that can help you get your first steps with your dream venture right.

1. Growing number of start-up events

Start-up walks conducted regularly for aspiring beginners to the entrepreneurial space. Who better to inspire than the founders of successful start-ups of Chennai such as KissFlow, StayZilla, Freshworks Inc and the likes.

Check out a start-up walk coming up next in this link – http://www.startupwalk.in/ , to hear inspiring stories and talks by Startup Founders on what makes them and their startup tick, how they got started, and what keeps them going. Networking in such events provide a platform to ignite creative minds and connect with experts in respective domains.

2. Collaboration and discussion forums

Straight from the horse’s mouth! Get one-to-one individual discussions and collaborate with some of the experts from tech-startups to help you envision, expand and enrich your business space with tips from tycoons who have trodden a similar path.

Check out Startup Founder101 (https://www.meetup.com/Chennai-Startup-Founder-101/) where free events are hosted to meet and exchange ideas including the process of fund-raise and upscaling. A chance to simulate your idea and present prototypes to mentors.

Fear of failure can be a road-block when you start something afresh. What better than a chance to simulate and present a prototype model to stalwarts who would then critique to arrive at workable solutions to identified barriers. Check out MaterialNEXT hosted by TATA Steel Advanced Material Research centre in collaboration with E-cell of IIT Madras (http://www.ecell.iitm.ac.in/materialnext.html)

Sustenance and tenacity is as much a craft as starting up is. Often, there is a standstill after peaks of success. It is important for start-ups to learn to be sustainable in the long run to ensure they withstand competition in the market. Attend start-up summits such as https://www.entrepreneurindia.com/summit/chennai/ to understand the hacks of sustainability and long-term success with business ventures.

3.  Right mix of Talent and Technology 

Best start-ups in Chennai which are widely known such as Freshworks, Bharat Matrimony,Bank Bazaar, FundsIndia, StayZilla, Indix etc are a testimony to the fact that the city is playing it big in the technology game. Some of the coders and developers in such successful start-ups, although based in Silicon Valley are Chennai bred engineers. Further, presence of SEZs make it a go-to destination for start-ups.

The city breeds competition. Entrepreneurs in Chennai are a bundle of competing youth who bring a plethora of fresh ideas to the table with diversified strategic perspectives.

4. Cheap destination with quality infrastructure

The cost of living in Chennai including travel and housing, is far lesser when compared to Bangalore, the giant IT hub and other metro cities thus making it lighter on the pockets.

The environmental conditions are also quite suitable to be able to plan your calendar effectively with Vitamin D on the move throughout the year. When winter comes, can ‘summer’ be far behind?

5. Start-up and Innovation Policy 

A welcoming news to start-up space from Tamil Nadu Government! Policy 2018-2023 with a mission to make the state a global innovation hub for start-ups by expanding the innovative ecosystem which is proposed to create a minimum of 1 lakh high-skilled jobs.

Infrastructure support would be strengthened in areas like Artificial Intelligence (AI), Machine Learning (ML) as these are set to take over the future of technology.

Per time value of money, today is a cheaper day to start than tomorrow. What are you waiting for?

Create Art. Make money. Invest the money to create more art. Let the virtuous cycle begin!




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