The meaning of India’s second IT boom
Compass, the Silicon Valley-based startup monitoring agency, just released its report: The global start-up ecosystem ranking 2015 , and we have every reason to be proud. The report ranks Bengaluru at 15, four places above its 2012 ranking.Bengaluru’s inflow of venture capital in 2014 amounted to approximately $2.25 billion, ranking seventh in VC investment among the top 20. According to Yourstory.com, Sequoia Capital India, which raised its fourth India-focused fund worth $530 million last year, heads the list with 26 deals, followed by Tiger Global Management, Helion Venture Partners and SAIF Partners. This restates the phrase “Bangalored” which occurred about 20 years back when the current IT bellwethers such as Infosys and Wipro took the global IT services sector by storm.Apart from Bengaluru, Delhi, Mumbai, Chennai, Hyderabad and Pune also significantly contribute to the IT sector in the country. Juxtaposing the IT services sector with the startups of today reveal stark differences in their evolution.