
When you hear the name of the city of Surat, what is the first thing that comes to your mind? Food, diamonds, or textiles.
However, the glittering diamonds are not the only thing that makes Surat an attractive destination for investors; it is the fast-growing Surat’s startup ecosystem. But what makes Surat become such a lucrative location in the eyes of global investors in India? Let’s talk more about it in this blog.
Why has Surat become an attraction spot for global investors?
There are many investment opportunities in Surat with the establishment of startups, incubators, and angel investment networks like 21BY72. Surat has become a place for startups to grow and expand their wings into international markets. Following are the few reasons this has become possible:
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A strategic location for a startup
Surat is known as the City of Bridges, with over 120 bridges across the city. The city is interconnected to facilitate transportation and access to nearby locations. It is connected to several national highways (NH), including NH8 and NH53, connecting Surat to major cities such as Delhi and Mumbai. Surat is Gujarat’s most popular business and lifestyle destination. Shipping ports and international airports serve as the most efficient and important locations for businesses, resulting in more global investors looking for promising companies.
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Existing and developing government policies
The government is an essential part of Surat’s startup ecosystem. They have created valuable resource allocation and management policies and offer a supportive growth environment for startups. The government supports startups and institutes like incubators and accelerators to boost entrepreneurial spirits in Surat. Therefore, global investors in India are more inclined to invest in Surat.
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Thriving entrepreneurs and their entrepreneurial spirits
Surat’s startup ecosystem is the 13th best in India (source). With more than 98 startups growing in Surat, the entrepreneurial spirits are high! Surat has provided the necessary resources, education, and funding for a startup’s.
growth. Young entrepreneurs can learn the intricacies of establishing a startup at educational institutions, incubators such as SURATi iLAB and iLAB in SVNIT, and accelerators. Startup events like the Global Startup Summit are another event that supports entrepreneurs learning about market trends from industry experts.
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Adapting to technological changes
Surat has always been known for its glittering diamonds and fantastic textiles. However, it has positioned itself in the tech world in recent years. Adopting smart city policies and using AI to track traffic offenses has changed how Surtis live and carry on with their days. Tech startups like DhiWise, AdKrity, and Selloship have streamlined various operations for startups. Therefore, adopting technology makes it easier for startups to operate and generate better revenue, thereby attracting global investors.
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Benefits of working in Surat’s startup ecosystem
Surat helps startups grow by providing a reliable startup ecosystem. We have listed a few benefits of working in Surat’s startup ecosystem to create investment opportunities for global investors.
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Growth with supporting infrastructure
Surat has been one of the fastest-growing cities in Gujarat, with mind-blowing bridges to the local infrastructure supporting startup activities. The startups in Surat have access to logistics, e-commerce, supportive policies, and more to grow in a competitive global market. The development of roads, internet support, and structural organizations for startups contribute the most to the growth of startups.
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Cost-effective operations management
Cost is one of the significant concerns of startups in India. It has proven to be the most crucial factor affecting the workflow of a startup. Surat is a comparably cost-effective market to build a startup. Compared to metro cities like Mumbai and Bengaluru, Surat has low inflation, and the standard of living is affordable for many people. Startups can source raw materials and operate at lower rates, affecting their pricing and related profits. Therefore, global investors are eyeing startups in Surat to invest for high ROI.
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Easily expand your market
Surat is a well-connected city, with connections to many domestic and international markets. The NH ports and airports have made expanding startup operations easier. The Surat startups are diversifying their target markets, attracting global investors. Investors are drawn in by the prospect of decreased operational expenses and the availability of resources through many platforms, breaking old company practices.
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Recruit the best talent for your startup
Surat has taken active steps in providing the best education to its youth. Consequently, there has been an increase in the number of bright individuals in a variety of sectors, allowing startups to hire personnel at lower rates than those in major cities. On the other hand, the lower living cost and the quality of living standard have attracted many skilled professionals to Surat. Thus, startups can boost their reliability by recruiting experienced professionals to convert their innovative ideas into reality.
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Access the traditional markets easily
The startups rely on the local markets during their initial stages. It helps them gain traction and back up their startup for future funding. The traditional markets of Surat have become a valuable resource for innovative startups to test their products and, in turn, gain the trust of global investors, creating global investment opportunities in Surat. Fashion tech, fintech, and logistics are some of the few thriving startups in Surat.
How do Surat startups attract global investors in India?
Securing investment is hard, but finding investors in Surat is more challenging. However, the growing Surat startup ecosystem provides sufficient opportunities for attracting global investors. The global investors in India attend various startup events and track the government initiative to boost startup growth.
One such event is the Global Startup Summit by 21BY72. This summit aims at bridging the gap between startups and global investors. Here, various local and national startups exhibit to raise funds, and early-stage startups pitch their ideas. The industry experts conduct an insightful panel discussion for startups to learn.
Conclusion
Surat is more than just textile and diamonds; it has become a startup hub. The infrastructure connects the startups with reliable resources, domestic and international markets, and supportive organizations like incubators and accelerators.
A trustworthy government structure and affordable living standards make operating a startup and recruiting talent easier. It leads to better operation management and building trust to attract global investors. Startup summits and events help investors and startups connect and collaborate.
FAQs
1. What is the Surat startup ecosystem?
The Surat startup ecosystem comprises various entities like the startup, government, investors, incubators, and accelerators to help startups thrive. These entities rely on one another to create a growth-focused environment to support the startups in all their stages. From expert guidance to funds, the startup ecosystem has everything a startup needs to grow.
2. How do I find global investment opportunities in Surat?
Entrepreneurs can find global investment opportunities by attending local and international events, joining startup accelerators, and networking with VCs and angel investors.
3. How can global investors benefit a startup?
Global investors help you connect with global mentors, expand in global markets, and create a network internationally. They provide expertise in scaling businesses, which helps startups increase their chances of long-term success.
4. How did Surat become a commercial hub?
Surat’s strategic location as a port city with a robust infrastructure and entrepreneurial spirit helped it grow into a critical center for commerce, attracting national and global businesses.