BENGALURU: According to a recent global Startup Ecosystem Report, Bengaluru has earned the distinction of being the 15th-best startup ecosystem in the world. A startup benchmarking firm, Compass situated in the Valley carried out this survey where Bengaluru ranked 10 in the valuation and 6th in terms of access to funding. However, Silicon Valley of India is still creeping in talent and market reach, reports ET.

"I am delighted that, Bengaluru is ascending in global rankings of tech ecosystems. The city's multi-faceted ecosystem attracts talent and expertise from around the globe and also our diasporas, all of which have enabled Bengaluru to hit the tipping point," said Ravi Gururaj, Chairman, Nasscom Product Council.

According to Sharad Sharma, cofounder and CEO, iSPIRT, the report wasn’t satisfactory and the metrics weren’t fully reported. "Bengaluru has the best reach into digital consumers in India-this kind of reach is not there in any other place other than Silicon Valley and China. Bengaluru is where people come together, inspired by the opensource model, to build public goods at a scale that is not seen anywhere else other than the Silicon Valley," he said.

The Silicon Valley startups lead placing U.S. in the top most position in the report. Seven out of the top ten ranks have been acquired by the U.S. cities. The remaining three positions were taken by Tel Aviv, Berlin and Singapore. Singapore, the only other Asian city in the list, took a big leap from 17^th position in 2012. Countries like China, South Korea and Japan weren’t a part of the report owing to the language constraints for collecting data.

Bengaluru was amongst the cities to have shown the greatest growth in exits, VC investments and the number of seed investments. The city ranked second on the growth index following Berlin.

Bengaluru’s startup ecosystem is steaming up and drawing all the right attention globally.

"Bengaluru has traditionally been a large recruiting ground, and we have gradually been seeing improvement over time in Bengaluru's hiring ecosystem.

It is going through its natural evolution of senior management resource pool, and many companies have gone overseas to hire people to Bengaluru. Both these factors combined should contribute to the talent pool and become a key catalyst in accelerating things going forward," said Neha Singh, cofounder of international startup tracking firm Tracxn!.

The global exit growth was 78 percent from 2012 to 2014. The Indian city contributed to 0.20 percent of this growth.

These metrics demonstrated the potential of Bengaluru as the next big thing in the startup world.  

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