Bengaluru is known as the software or IT hub of India with a large number of companies within the Information Technology space calling it home. The city is also known to have the highest number of software professionals living in it and also boasts of one of the highest per capita incomes in the country.
The city has always lured some of the best talents in the country with its modern lifestyle and very international nightlife. The vibrant city also has pockets of serene living that attracts retirees and people who have decided to call Bengaluru home for good. The number of people choosing the city as a retirement home has come down over the years with the hustle and bustle of the city becoming too much for this demographic.
Known earlier as Bangalore, the wonderful weather and quaint lifestyle had attracted people from all over the country as a retirement home This, however, changed in the last 20 years with the advent of the IT boom that propelled the city and India onto the world map. The city is now filled with working professionals in various fields making the city bulge and strain at the edges.
The city of Bengaluru is also known for the large number of start-ups that are registered every year. This is predominantly due to a large number of IT professionals within the city. Recent studies however have shown that the number of start-ups being registered has gone down drastically.
This trend was witnessed once the country went into lockdown and most companies decided to ask their employees to work from home. Experts believed that this was a temporary situation with the entrepreneurial spirit expected to kick back once the uncertainty and paranoia over the pandemic fizzled out.
However, this was not the case. The declining trend in the number of registered start-ups continued from early 2020 and until June 2021 marking more than 14 months of continued negative growth in the number of start-ups. This is a worrying factor for all developmental and financial indices as the growth of start-ups in an economy is considered to be vital in ensuring that the economy and the ecosystem is still alive.
We uncovered that the reduction in start-ups also coincided with the reduction in traffic jams in Bengaluru.
The city is under constant renovation. Construction for roads, flyovers and underpasses are a common sight and has become one of the trademarks of the city. It is often said that if 5 minutes pass and you haven’t seen a road construction, you have left Bengaluru city limits.
This strain on the city’s infrastructure had lead to the rise of the now world-famous, Bangalore Traffic. Officially acknowledged as the city with the worst traffic in the world, the average commuter tends to spend an additional 71% more time travelling than the global average.
Read the full article at: http://thedailyvanilla.com/2021/07/05/start-up-culture-dying-in-bengaluru-due-to-lockdown-and-work-from-home/