10 Reasons to Startup in Nagpur
For years, Nagpur has been seen as the sleepy small town with not much to offer in terms of employment opportunities. While this may be seen as a disadvantage by most, there are others who view this as a window of opportunity. After all, there is so much scope for business in a place starved of options.
The above is especially true for start-ups. It is no secret that tier-2 cities are emerging as the best locations for start-ups. There are several factors that Nagpur a great choice for this as well. Let’s have a look at some of the reasons for this.
The biggest benefit provided by Nagpur is its geographical location at the centre of the country that offers a much logistical advantage. This means it is well connected through railway, roadways, and airways
2. Political support
Home to the chief minister of the state Devendra Fadnavis and Union minister Nitin Gadkari is now on the radar of both the state and union governments as a great investment destination. They have helped bring in much investment to the city while also encouraging local businesses.
3. Big ticket projects
Many projects with huge financial potential like MIHAN (Multi-modal International Cargo Hub and Airport at Nagpur), a food park for Patanjali Ayurved and several infrastructural projects. These big ticket projects will allow the sustenance of several start-ups as well.
4. Educational hub
From engineering and medicine to pharmacy and agriculture, universities and colleges teaching every possible skill that are located in the city. These institutions are a great source of human resources required by any start-up.
5. Low cost of operations
The realty prices, the standard of living, salaries, and any other overhead cost you can think of are lower in Nagpur than the metros. Besides, the city’s geographical location means a lower GST incurred on the transport of goods produced. This will be especially beneficial for manufacturing units.
6. Industrial clusters
Talking of manufacturing, the city already has established manufacturing clusters at Butibori (which is regarded as one of the largest industrial areas of Asia) and MIDC. Other than the big names, the city also has more than 22,000 Micro,
Small and Medium Enterprises (MSME) located in and around it. Government policies in the state are also favorable for establishing these units.
7. A Smart city
Nagpur figures in the list of cities that the Government of India aims to develop as a smart city. There is a metro line being constructed in the city currently. Other initiatives under this project include focusing on the production of solar energy, affordable housing projects, and the Mumbai-Nagpur expressway. These amenities can come in handy for any company starting up in the city.
8. It’s a rich city
According to the 2011 census data, Nagpur ranks thirteenth on the list of Indian cities with highest GDPs. Another survey had pitched the city as having the sixth highest number of crorepatis in the country. This means it won’t be very difficult for a good start-up to find funding here!
9. Heterogeneous population and cosmopolitan outlook
Being located in the center of the city, Nagpur is a cultural melting pot with people belonging to many different states now calling it their home. You would also find people from different economic, cultural and religious backgrounds here. Such a heterogeneous population that has a largely cosmopolitan outlook can be a great testing ground for a new product or service.
10. The Lemon School of Entrepreneurship is here
Any mentorship or other needs of a start-up can be taken care of in the city by the Lemon School of Entrepreneurship. Other than preparing aspiring entrepreneurs to face the challenges in the cut-throat world of business, the school also functions as an incubator and advisor to many start-ups.
What more does an entrepreneur need? In case you have a great idea for a start-up, come over to Nagpur and start bringing your ideas to fruition.