Breaking the mold, small towns in India have seen an influx of startups. Ever wondered why?
While Tier 1 cities such as Delhi, Mumbai, and Bengaluru have long been the engines of progress, the growth story shifted to Tier 2 & Tier 3 cities with investments and innovation.
Widely recognized Tier 1 cities already have vibrant and flourishing start-up ecosystems. Hence, people started realizing that lesser-known counterparts of tier 1 possess distinctive advantages that make them highly appealing for start-up activities. These small towns, which were overlooked in the larger scheme of things, are now the beating heart of India’s economic expansion, and their contribution to the country’s overall prosperity cannot be overstated.
These cities were often driven by unique local challenges and opportunities which called for socioeconomic transformation. Backed by the ongoing technological revolution, innovative hustlers and entrepreneurs started building for the real BHARAT problems in Tier 2 and Tier 3. The small-town startup ecosystem was further ushered by favorable government policies, infrastructure, shifts in consumer behavior, etc. Nearly 50% of recognized startups in India are based out of Tier 2 and 3 cities, as recent stats suggest.
Untapped Market Potential
Tier 2 & Tier 3 cities offer an untapped market potential that startups can tap into. These cities have a vast population, which was largely untapped by businesses. With the rise of digital technologies, it became easier for businesses to reach out to customers in these cities. This has created a new market opportunity for startups… which has led to their growth.
According to the 2021 census, these towns boast a staggering population of 150 million individuals, leaving you astounded and wide-eyed at the sheer scale of people calling them home.
Indeed, with a large talent pool that can lower operating costs in a growing consumer market, the entrepreneurs have started addressing the regional challenges strategically, and play a significant role in augmenting startup growth in these cities.
Leveling Up The Playing Field
Startups from Tier 2 and Tier 3 cities often encounter hurdles when it comes to accessing the necessary networks and resources for scaling their businesses. However, Sigurd plays a vital role in bridging this gap by offering entrepreneurs access to the same pool of resources, mentorship, network, funding, and more available to their counterparts in Tier 1 cities. By providing a platform for collaboration and networking, Sigurd enables ingenious hustlers creating for real BHARAT problems to come together, spur development and innovation in smaller towns.
What’s more?
Calling out all innovative creators who are eager to unleash the untapped potential of Tier 2 and Tier 3 cities with their groundbreaking ideas! If you find yourself in search of funding and the perfect mentorship to bring your innovation to life, look no further. We’re here, just a phone call away, ready to hear your pitch and embark on an exciting journey together! Don’t let your brilliant idea go unnoticed—reach out to us now and make the magic happen!
