Powai, a Mumbai Suburb, Turns New Start-Up Hub In India
New Delhi: Mumbai is the financial capital of India. It is not surprising then that Powai, one of its eastern suburb, has turned into the new start-up hub of India because of relatively low rent. Housing more than 50 startups, it is IndiaÃ¢â‚¬â„¢s new business hotspot and is seeing mushrooming of upmarket pubs and restaurants too.
Just as Dublin, Tel Aviv and Berlin, Powai Valley is IndiaÃ¢â‚¬â„¢s answer to the USAÃ¢â‚¬â„¢s Silicon Valley and LondonÃ¢â‚¬â„¢s Silicon Roundabout as a startup hotbed. Unlike Bangalore and the NCR, startups in Powai are mostly in the Internet or mobile consumer space.
Powai startups are setting a new trend as they are fuelled by the talent from IIT Bombay. This gives them an edge over business located in other cities.