Priyank Kharge stated that 85 percent of funding in e-commerce marketplaces has been directed to Karnataka. As the Karnataka Minister, he proudly released the Bengaluru Innovation Report 2024, curated by 3one4 Capital and the Startup Vision Group. On X, he highlighted that Bengaluru's GDP is expected to grow at an annual rate of 8.5 percent until 2035.
In his post, he mentioned that the top 10 cities with the highest projected GDP growth rates from 2020-2035 are in Asia, including Bengaluru, Mumbai, and Delhi from India. Bengaluru stands out for having the highest number of employable female talent and is considered the most millennial-friendly city in India for education and employment, ranking 18th in the Asia Pacific. Bengaluru Urban boasts the most colleges per district at 1,106.
Since 2010, Bengaluru-based startups have raised $70.1 billion, with $15.1 billion raised in the current year alone. Kharge noted that Bengaluru leads in funding for business-to-business (B2B) at $34.9 billion and business-to-consumer (B2C) at $4.9 billion, with Delhi following at $13.5 billion for B2B and $1.8 billion for B2C.
He also shared that Bengaluru is home to over 3,600 funded tech startups, with 25 percent leveraging DeepTech. Karnataka is the fifth-largest unicorn hub globally, with India having a total of 112 unicorns valued at $320 billion. Forty-five of these unicorns, valued at $160.8 billion, are based in Bengaluru. Additionally, 38 percent of India's 435 'Soonicorns' are located in Karnataka.
Kharge emphasized Karnataka's strong investment ecosystem, which includes 1,565 VC funds, corporate venture funds, and 17,164 angel investors.
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