'Brand Mumbai': Top Business Founders Team Up To Push City's Startup Ecosystem

To develop, promote and nurture the startup and entrepreneurship culture in the financial capital of India, over 30 established business founders have teamed up to form an organisation. The vision is to build 'Brand Mumbai,' a startup hub.

According to reports, the organisation is likely to be named 'TEAM' (Tech Entrepreneurs Association of Mumbai) and headed by Aakrit Vaish, co-founder of Haptik, and Harsh Jain, co-founder of Dream 11.

Know About 'TEAM'

TEAM will be registered as a not-for-profit entity, and the members will contribute to the organisation's financial independence. The new-age entrepreneurs will also engage with the government to bring and develop policies that will push the startup ecosystem in the city.

Several founders of Mumbai-based startups will be part of the not-for-profit entity- Zepto, Upstox, Pharmeasy, Rebel Foods, and Clevertap, among others. Every stakeholder would contribute to making the business capital a startup hub where founders will want to base their businesses.

Mumbai To Become New Startup Hub

Bengaluru has always been in the spotlight for being the startup hub of India. Notably, India's first three unicorns- Flipkart, Mu Sigma, and InMobi are headquartered in Bengaluru. However, Mumbai has also shown its potential when it comes to establishing several startups.

Around 18 unicorns, out of India's 108, are based in Mumbai, which brings it to third place after Bengaluru and Delhi. Despite being among the three top cities for startups in India, the city has never been recognised as a startup hub.

The TEAM will aim to bring financial capital into the spotlight by providing ease of business and resources to founders of startups. According to a report by The Economic Times, several professionals will be hired to work in the organisation.

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