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Mumbai, Bangalore and London Named among World’s top Startup Hubs

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  • Mumbai maintains its top spot in ‘Top 100 Emerging Ecosystems‘ list as Indian startups raise $12.1bn in first half of 2021
  • London and New York are top cities globally to build a successful tech company outside of Silicon Valley
  • Bangalore-Karnataka ranks 23rd globally while Delhi comes in at 36th in the top list
  • London ranks highly for funding, talent, and connectedness in latest Global Startup Rankings by Startup Genome
  • London tech firms raise record levels of investment in 2021, already more than the whole of last year

 

London, Mumbai and Bangalore have featured among the world’s top startup hubs, according to a comprehensive ranking of international startup hubs compiled by Startup Genome for its annual Global Startup Ecosystem Report 2021. Despite Brexit and the coronavirus pandemic, London maintained its second-place ranking tied with New York for the second year in a row. Bangalore also ranked in the top 30 global tech hubs (#23 globally) and Delhi made it into the top 40 list, coming in at 36th. Mumbai maintained its first position in the Emerging Ecosystems ranking (ecosystems in earlier stages of growth that have high potential to be global performers in the future), outperforming other fast-growing ecosystems in areas of funding, performance, market research and talent.

Released to coincide with London Tech Week, the largest tech event in Europe, the report ranks the leading 140 startup ecosystems based on seven success factors including Performance, Talent and Connectedness. The findings revealed that London is the most attractive destination to set up a tech startup outside of Silicon Valley, with an overall ecosystem value of $142.7bn. London has risen up the league table in the last few years, climbing from number eight in 2012 when the first rankings were released to number two in 2020. Silicon Valley held onto the top spot this year while Beijing and Boston came in fourth and fifth respectively.

The research shows that Indian startups raised $12.1 billion in the first half of this year, demonstrating the rapid growth of India as a global hub for tech and innovation. As of August 2021, India has produced 24 unicorns in 2021, including 6 in just 4 days in April. The city of Bengaluru and the surrounding state of Karnataka is also the world’s 4th largest technology and innovation cluster and home to more than 400+ global R&D centres. Alongside Mumbai, a number of other Indian hubs made it into the ‘Top 100 Emerging Ecosystems‘ list, including Chennai, Pune and Hyderabad.

The findings also revealed London is one of the best cities in the world for access to funding and quality and activity in the investment ecosystem (referring to the number of local investors, investor experience and their level of activity). London has already seen record levels of VC tech investment this year, with the UK capital’s tech startups receiving $13.3bn in the first seven months (January to July), more than the $10.9bn raised in the whole of 2020. London’s impressive start to 2021 has been boosted by major funding rounds for Revolut ($800m), Checkout.com ($450m) and Hopin ($400m). Bangalore’s ranking was also boosted by healthy access to growth capital, demonstrated by recent large funding rounds from food delivery platform Swiggy ($1.3bn), social media company ShareChat ($502m) and edtech firm Byju ($460m).

Compared with other international tech hubs, the research found that startups in London have access to deeper pools of capital, with an average seed round of $653k, ahead of the global average of $494k. London is currently home to over 1,370 VC firms – more than any other European city, providing access to a vast network of investors and a depth of capital in the ecosystem. A number of global investment firms have also increased their presence in London recently, with Index Ventures announcing a $3.1bn fund for European start-ups in July and the news that Silicon Valley based VC Sequoia Capital had expanded its footprint in the UK capital.

London is also recognised for its world class talent pool, with the city ranking highly across the board for quality and access to Tech and Life Sciences talent. With four of the world’s top ten universities located in or close to London, the city is home to 484k software developers as well as a high number of Life Sciences-focused universities and degree programmes.

The Mayor of London, Sadiq Khan said, “London is a fantastic place to grow and scale a global tech business. We celebrate the diverse, international nature of our tech ecosystem and it is great to see our thriving start-up community being recognised in this report.

London’s tech sector has a pivotal role to play as we rebuild from the pandemic, and I am excited to be part of London Tech Week to discuss how our tech community can work with other start-up hubs to solve global challenges. In the face of Brexit and the global pandemic, London has demonstrated its resilience and proven itself once again to be one of the best places globally for tech innovations and start-ups.”

Janet Coyle, Managing Director Business Growth, London & Partners said, “India and London have shared strengths in technology, innovation and entrepreneurship and today’s report findings demonstrate the abundance of opportunities for Indian tech companies looking to London for international expansion. For startups and high growth companies considering global expansion, London has access to high levels of funding, talent and customers all in one city. As one of the world’s leading hub for innovation, there is huge opportunity for London to collaborate with other fast-growing startup hubs like Bangalore and Mumbai.”

JF Gauthier, Founder & CEO of Startup Genome said, “Entrepreneurs, policymakers, and community leaders in Asia have been working hard to build inclusive innovation ecosystems that are engines of economic growth and job creation for all. The Global Startup Ecosystem Report is the foundation of knowledge where we, as a global network, come together to identify what policies actually produce economic impact and in what context.”

While the US and China have long been considered the global superpowers for startups and tech, the pandemic has accelerated the democratisation of startups, and Europe is quickly cementing its position on the global stage. The report shows Europe accounts for 17% of the top 30 ecosystems this year, with London the only European city to make the top 10 list. Asian ecosystems also continue to rise in the rankings, with Tokyo (from #15 to #9), Seoul (#20 to #16), Shenzhen (#22 to #19), Bengaluru (#26 to #23), and Hangzhou (#28 to #25) moving ahead.

Poppy Gustafsson, Founder and CEO at Darktrace, said, “At Darktrace, we are proud to be building on the UK’s rich heritage in tech and innovation. Being part of the UK’s tech ecosystem affords us access to a vast network of investors, researchers and talent and has been instrumental in building a successful AI business and – in particular – advancing our leading position in Self-Learning AI. I’m thrilled to be an ambassador for London Tech Week, a fantastic opportunity not only to celebrate the UK’s achievements thus far, but to drive our industry forward.

The release of the latest Global Startup Ecosystem Report coincides with London Tech Week, bringing together the global tech community to address how tech can solve some of the world’s most pressing challenges. Key speakers throughout the week include Hilary Clinton, former US Secretary of State, Sebastian Siemiatkowski, Co-founder & CEO at Klarna, Alex Mahon, CEO at Channel 4 and Maria Raga, Founder & CEO at Depop.

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Sushma Gets Ranked Best Developer in Punjab Based on Customer Reviews

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Delhi-based research firm International Brand & Research Forum (IBRF) gave AAA ratings based on customer satisfaction to Sushma Buildtech from Punjab and declared it the Best Developer in Punjab based on customer reviews. The survey was conducted across the region with a special focus on past customers; IBRF Global researched the quality & feedback index on various parameters to come up with the result.

Mr. Prateek Mittal, Executive Director,Sushma Group

Mr. Prateek Mittal, Executive Director, Sushma Group, said, “Our customers are the centre of our attention, and we value Customer Feedback and customer reviews as it helps us get to know our strength. We pay attention to the tiniest aspects in our grandest goals, and we make the biggest pledges in the tiniest details.

The Sushma Group has been a leading name in the real estate sector of Chandigarh right after its inception. The organization is known for providing world-class residential and commercial options with state-of-the-art amenities. A name to reckon with and is one of the top 10 developers in the Tricity region, the Group has a track record of delivering 14 projects in 13 years. The IBRF looked at the Sushma Customer Complaints over a period of time and compared with Sushma Customer Feedback for brand and specific projects. Sushma Customer Reviews were also studied and taken into consideration.

The Group has long valued customer satisfaction and has paid close attention to customer feedback. The Group has returned with their Happy Home Celebrations during the festival season to spread delight among homebuyers and present them with memories to last a lifetime. Every month, they are spreading happiness to 100+ families by satisfying them with superb, assured quality and the best location of their dream homes. They are encouraging individuals to enhance their celebrations by buying a new home.

Sushma has worked hard to ensure that all of its projects meet the highest standards of quality and consistency. The majority of its projects are located on PR7 Airport Road, which provides good connectivity.

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Oakridge Bengaluru School Principal Pallavi Mishra Speaks on Future of Learning

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In its 29 States and 7 Union territories, India has a staggering 20 million schools with 315 million students. Almost two third of these schools are government run and need more focus on professional development for teachers, holistic learning methods for students and technological integration in all aspects of daily school life. The tie up of 30 government schools in Delhi with IB (International Baccalaureate) the beginning of this reformation of schools and can truly accelerate equity in education.

Oakridge International School Principal Pallavi Mishra interacting with IB Students

IB is designed to evoke the curiosity in students about the world around them, thereby creating life-long learners. The curriculum is structured in a way that it exposes students to a wide range of activities, projects and experiences, that develop their personality and prepare them for the competitive world ahead. Right from p.y.p (primary years programme), children learn to approach problem solving in the design thinking method. Once a concept is introduced, it is researched, studied and understood through Math, English and Science. Consequently, children develop a transdisciplinary approach very early on. This habit of scientific investigation is nurtured in m.y.p (middle years programme) through the global contexts and approaches to teaching and learning. In fact, the vertical alignment of the curriculum is quite exception, what begins as unit of inquiry in primary, evolves into interdisciplinary unit and in d.p (diploma programme) it acquires a more formal structure through the extended essay and theory of knowledge. In other words, children are given several opportunities to explore and investigate a big idea in a structured manner with measurable outcomes. And in many ways, this form of learning provides the much-awaited reformation of the traditional Indian schooling system.

What is considered as extra-curricular in the traditional schooling system is embedded in the main academic curriculum and implemented via collaborative student-led initiatives. For instance, Oakridge Bengalurus JMUN (Junior Model United Nations) event is a platform where students speak as country delegates and debate over a host of on-going world issues from food crisis, to global warming and waste disposal. Events like these are one among the many in the IB way of learning, that nurture leadership, public speaking, and problem-solving skills in students

In the words of Sir Ken Robinson (International Advisor on Education) “It is time for an education system that is “flexible“, sees ‘connections‘ between all types of knowledge and provides ample ‘opportunities‘ for different ability groups and talents to flourish.”

To know more about Oakridge International School and their IB Programme visit www.oakridge.in/bengaluru.

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Amidst a Drop in Glove Prices – SRAM & MRAM Cements its Place in the Gloves Market

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The COVID -19 has reduced its intensity with the onset of the vaccines and stringent lockdown rules imposed by the Countries and Governments all across the globe, but in no way it has stopped completely. Slowly and steadily we are witnessing newer strains regularly, posing a challenge to healthcare authorities across the globe.

 

The world has seen a sea change in its attitude towards businesses and people. The synergies have somehow changed for good or worse. But one thing that stands out is the will to fight against all odds, be it the people or the businesses. One such business that started to thrive in the COVID-19 times is the business of Nitrile and Latex gloves. Almost, the whole world was running from pillar to post to secure allocations from glove manufacturers. Manufacturers doubled and sometimes trebled their capacities to accommodate the sudden surge. With the herd immunity in some locations, the entire demand of gloves peaked. Post that, with the advent of vaccines until the beginning of 2021, the demand suddenly died, resulting in an over-capacity produced lying in warehouses and ports and factories with businesses collapsing. Prices had dropped to almost pre-COVID levels with many businesses almost on the verge of shutting down their shops.

 

SRAM & MRAM Group a conglomerate from the UK, understanding the gravitas, has decided to make the glove business its mainstay. The brand has opted to continue the business against all odds. With its concentration on newer glove products and better marketing strategies, the group has decided to stay afloat in an otherwise shaky environment. The brand has taken such a bold step to continue further. All thanks to the TOP Gloves Corporation Bhd, the leading OEM supplier, world’s largest manufacturer of gloves to help salvage SRAM’s business initiatives in the Gloves market.

 

Special mention has to be made for Tan Sri Dr Lim Wee Chai, the Founder of TOP Gloves for extending his full support and helping in SRAM’s initiatives wholeheartedly. Dr. Hiranandani, Chairman of the SRAM Group conveys his heartfelt gratitude to Tan Sri Dr. Lim Wee Chai and the entire TOP Gloves Team for staying with SRAM and helping SRAM graciously and providing their dedicated support for their business in North America and Europe. With the continuous cooperation of Tan Sri Dr. Lim Wee Chai and his entire team, SRAM is expected to grow in the glove industry.

 

SRAM & MRAM Group was instrumental in launching a wide variety of PPE products and solutions under the brand name of “Walletz4u” to fight the pandemic. Currently, the brand is focusing on gloves of varying specifications, shapes, sizes and contours for varied industries. With the launch of Walletz4u, the group joins the league of the leading players to sell their own brand of gloves across the globe. SRAM & MRAM under its banner is currently looking to create a big foothold on all the premier types of gloves requirements without restricting itself to rubber and latex products.

 

Billionaire and the 8th richest person in Malaysia, Tan Sri Dr Lim Wee Chai, the Executive Chairman and Founder of Top Glove Corporation Bhd, in the year 1991 started with 1 factory and 1 line and has since transformed the brand to being the largest glove manufacturer with a 26% market share across the globe with 50 production facilities and 800 production lines in Malaysia, China, Vietnam and Thailand. The company is also listed on Bursa Malaysia (Kuala Lumpur Stock Exchange) and the main board of the Singapore Exchange (SGX).

 

In 2015, Lim completed his PhD in Management from the University of Selangor in Malaysia. He was conferred with an Honorary Doctorate in Business Administration by Oklahoma City University in the United States in year 2016. In August 2018, Lim was conferred an Honorary Doctorate in Entrepreneurship by Management & Science University, Shah Alam, Malaysia. In October 2020, Lim was conferred an Honorary Doctor of Philosophy (PhD) Degree in Business Management by the University of Cyberjaya and appointed as an Honorary Professor of the University. Tan Sri Dr. Lim was awarded the prestigious accolade Master and Country Entrepreneur of Malaysia by Ernst and Young.

 

The company today employs a sizeable number of employees across the globe directly or indirectly and Tan Sri Dr. Lim Wee Chai has made it his personal endeavor to take care of his employees. His philanthropic deeds need special mention as he and his wife donate a substantial portion of their income for the betterment of the community. His wife through her charitable venture Tzu Chi foundation has roped in Tan Sri to become a full-time volunteer for the efforts.

 

In spite of being the Chairman of the largest glove manufacturing company, Tan Sri Dr. Lim Wee Chai has helped new entrepreneurs achieve their due. SRAM & MRAM Group has been at the receiving end of Tan Sri’s graciousness to help take its baby steps, and will always be needing the cooperation and support of Tan Sri Dr. Lim Wee Chai.

 

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