Pune enjoys seamless connectivity to the nation’s economic capital – Mumbai. Aided by the state government’s favorable IT policies, presence of multiple state-of-the-art IT parks, competitive costs of business operation, and a large pool of talent, the city has emerged as one of the top choices among entrepreneurs to set up base. Popular businesses like FirstCry and Fassos were started in Pune. If you’re an entrepreneur looking to set shop in Pune, you can enjoy several benefits. Let’s take a quick look at the best the city offers to meet your entrepreneurial needs.
Thriving startup scenario
There’re 5,600+ startups in Pune that are registered with the central government’s Startup India initiative. As the city plays home to leading research and education institutions like IISER Pune, NCL, NCCS, NIV, and others, it offers adequate support and good startup activity in the domains of IT, energy, healthcare, and materials space. Even when the world came to an almost standstill during the 2020 COVID-19 pandemic, the Venture Centre startup ecosystem helped several Pune startups launch important healthcare solutions and products around masks, ventilators, diagnostics, test-kits, and more.
To offer the city’s budding entrepreneurs mentorship and incubation support, PIFF (Pune Idea Factory Foundation), which is a fully-owned subsidiary of PSCDC (Pune Smart City Development Corporation Limited), has been established. This non-profit organization works to encourage Pune’s startup ecosystem and support the innovation agenda. PIFF also offers a startup subsidy scheme, the details of which can be checked here.
An important role in Pune’s startup ecosystem is played by TiE Pune. This non-profit global collective of angel investors, entrepreneurs, and government officials has actively assisted 800+ startups through its ‘[email protected] TiE Pune’ program from 2013-2019. Today, it helps entrepreneurs with mentoring, funding, incubation, education, and networking. Among its several programs and initiatives, the TiE Pune masterclass, partnership programs, and industry tie-ups with leading service providers and companies (like AWS, NTT DATA, etc.) are worth mentioning.
Maharashtra government’s innovation- and startup-friendly policies and initiatives too have helped Pune’s rise to popularity as a startup hub.
Ease of finding Pune coworking spaces
You won’t have to run from pillar to post when you want to find different coworking spaces in Pune that would be ideal for your startup. With flexible plans and pricing, these fully equipped plug-and-play offices are ideal to start working from day #1 without worrying about huge setup or infrastructure costs. Designed to provide you with uninterrupted access to work, these shared offices also offer added benefits like mentorship, workshops, seminars, networking, peer support, and startup incubation and acceleration, to name a few. All of these features and facilities would let you ideate, create, and connect with other entrepreneurs, thus letting you streamline your startup operations and fast-track its growth.
Availability of skilled resources
Pune has 9 universities and 100 educational institutions, thus offering a massive talent pool of 650,000 students who’re specializing in diverse fields. Perhaps that’s the reason why this city is called the “Oxford of the East.” Setting your startup in Pune would mean easier and adequate availability of highly skilled resources across different fields.
These are some of the key reasons that encourage entrepreneurs to set up their ventures in Pune to enjoy the multiple benefits the city has on offer.