'Higher startup rank will help Hyd attract talent'

Hyderabad: Startup founders feel that higher global rank of 75 secured by Hyderabad in startup ecosystem will help the City of Pearls attract talent from other parts of India as well as abroad.

Swiss-basedStartupBlink, a research centre which maps global startupsecosystem recently released,'Startup Ecosystem Rankings 2019', in which Hyderabad has bagged the 75th rank, moving up 115 positions from 190th rank in 2017.

"This ranking has given out a message that Hyderabad is the hub for startups.

That way, the city will attract talent from other places. For any startup to succeed, good and talented team is imperative,"Abhishek Deshpande, founder and CEO, Recykal, told The Hans India.

The annual report which ranks 1,000 top startup cities and 100 countries has mentioned that Hyderabad has received a total score of 8.541.

The initiatives, platform and support received from the State government has activated the startup ecosystem here, the founder added.

"The government gave an opportunity for young entrepreneurs through T-Hub, which is recognised across India.

Along with this, entrepreneurs have formed small groups like The Entrepreneurs, wherein founders of different startups come together every month, to help each other as this ecosystem needs help.

There are senior entrepreneurs in the city helping out and mentoring budding entrepreneurs which is also giving a boost to the ecosystem," explained Deshpande.

StartupBlinkranks startup cities based on parameters of quantity, quality and business environment.

Kiran Kumar Reddy, founder and CEO, Play Go Solutions Private Limited, said: "Startups in Hyderabad have lot of opportunities besides the support received from various incubators. Besides, the cityis home to a diverse market.

If a product or service launched here is successful, then it is much easier to replicate it in other cities".

However,there are four cities such as Bengaluru, New Delhi, Mumbai and Chennai above Hyderabad, having received global ranking of 11, 18, 29 and 74 respectively.

For Hyderabad to be on par with these cities, the founder of Recykal feels that the city needs a success story.

For that to happen, startup ecosystem needs good talent pool, he adds,

Good thing is that India as a countryhas entered the top 20 club, with a rank of 17, moving up 20 position from 2017.

"The country is proving to be a startup powerhouse with large quantity of activity in many cities.

There are three additional cities joining the top 100 list, six in total, making India the only country other than the USA able to claim this achievement," the Swiss report said.