Pune Turning Into a Hub For Startups

On the same track like Bangalore, Pune is also turning into a hub for startups that are really high in energy. On one hand, we see that Mumbai awaits smart BKC like projects and on another location like Connaught Place in Delhi tops the Office Space Market in India. With such a neck-to-neck competition, Pune is holding its feet straight and beating the blues of the city by offering tons of opportunities for the startups in the form of coworking spaces in Pune.

Proximity to the Finance Hub, Mumbai

For any business entity, funds act as the engine to run the remaining parts of the body. At a couple of hour drive to Mumbai, the financial hub of the country is the enabling entrepreneur to sail smoothly in the risky market. The funding activities are gaining some traction, which is increasing the number of startups in the city. Druva is one of the apt examples which has raised $25 mn in a Series C funding from existing investors Sequoia Capital, Tenaya Capital and Nexus Venture Partners.

Jaspreet Singh, Druva founder and CEO said: “The size of this latest funding round is a direct result of our unified strategy for solving these problems, our success to date in attracting customers ranging from UC Berkeley to Sephora and NASA, and our roadmap for expanding the inSync platform to become an essential component of the IT infrastructure.”

Entrepreneurs as Mentors

Not just Pune is closer to Mumbai, it is also known for producing mostly Enterprise startups. The easy access to Mumbai gives an easy access to the advertising world. But, most of the startups that you will find in Pune will resemble Druva and Veritas. The major reason behind the presence of enterprise companies is the influence of mentors who are from the enterprise company’s background.

Less Marketing Focus

Pune is a land of geeks, unlike Bangalore; Pune entrepreneurs are more comfortable with the existing ecosystem and not will look beyond. They are not much focused in terms of marketing. Working in collaboration with Mumbai can be a win-win deal for Pune startups. However, Pune doesn’t share the same DNA with Mumbai even after being in close proximity.

Affordable and Compatible

Pune is known as a city that nurtures talent and contributes, especially in IT and education sector. Additionally, this city is an also one of the leading manufacturer hubs and known for product development. People from other cities don’t face much of a challenge while adjusting to this city as it is, comparatively, affordable and fast growing if seen in shadow of Mumbai and Bangalore.