Bengaluru has emerged as the prime destination for IoT (Internet of Things) start-ups to set up base, as it accounts for 52 per cent of the total IoT start-ups in India, a study by management consulting firm Zinnov said.
Bengaluru is followed by Delhi NCR with 12 per cent, Mumbai 11per cent, Hyderabad 4 per cent, Chennai 2 per cent, and others together accounting for 19 per cent.
According to PTI, Zinnov said in a release quoting from the study that a wide availability of talent, thriving ecosystem of investors, access to industry experts and the presence of start-up accelerators are contributing to Bangalore’s dominance . The study on the IoT start-up ecosystem in India also reveals that over 120 IoT start-ups were set up in India in the last decade with more than 80 per cent of them being established after 2010.
Cumulatively, these start-ups have receive more than $169 million in funding since 2006, it said. While indicating that an increasing number of connected devices is expected to propel India’s IoT market, the study titled, “IoT Start-ups in India 2017” also states that the funding activity across use cases for such start-ups in India indicate a huge growth potential for them in the country.
