The Golden Connection: How Bengaluru’s Start-Up Evolution is Linked to Gold
The Golden Connection: How Bengaluru’s Start-Up Success is Tied to Gold
Bengaluru, often referred to as the Silicon Valley of India, has become a thriving hub for start-ups and innovation. But did you know that the city’s evolution as a start-up capital has a shiny little connection with the yellow metal, literally?
It all started at the Kolar Gold Fields, where gold was discovered and mining operations began in the early 1900s. The electrification of the Kolar Gold Fields in 1902, powered by the Cauvery Falls at Shivanasamudra hydroelectric power station, played a crucial role in the city’s development. The surplus power generated was later diverted to electrify Bengaluru, making it one of the first cities in Asia to be electrified.
This early electrification led to the establishment of modern industries and a culture of innovation in Bengaluru. Sir M. Visvesvaraya’s call to “Industrialise or perish” set the tone for the city’s industrial growth, with industries like the Bhadravati Iron and Steel Plant, Paper Mills, and Mysore Sandal Soap emerging in the region.
Post-independence, Bengaluru saw the establishment of multiple Public Sector Undertakings (PSUs) like Hindustan Aeronauticals Limited, Indian Telephone Industries, and Bharat Electronics Limited. The city’s strategic location away from borders and its conducive environment for sensitive industries made it an ideal location for these institutions.
The availability of high-quality talent, premium educational institutions like IISc, and the liberalisation of the economy in the 1990s further fueled Bengaluru’s growth as a start-up capital. The city’s transformation into a technology hub can be attributed to visionaries like R.K. Baliga, who dreamt of creating a high-tech cluster similar to Silicon Valley in India.
The ‘gold’ connection between Bengaluru and San Francisco’s Silicon Valley is uncanny. While Bengaluru benefitted from the gold in Kolar for its electrification and industrial growth, San Francisco witnessed a gold rush in the mid-1800s that transformed the city’s fate. Both cities have a rich history of innovation and entrepreneurship, with a ‘golden’ tinge to their success stories.
Today, Bengaluru stands as a testament to the waves of innovation and the culture of entrepreneurship that have shaped the city’s journey from a humble beginning to a thriving start-up capital. The ‘gold’ connection may be a historical footnote, but its impact on Bengaluru’s growth as a technology hub is undeniable.