The mention of Goa brings to mind, a picture of their lovely, fun-filled, sandy beaches, delectable cashews, distinctive Feni, a cool music festival, and a lazy sundowner.
But now, an increasing number of individuals are also eyeing Goa not just for a recreational trip, but also as an ideal startup location.
Goa rightly termed ‘the party capital of India’, has come a long way in establishing itself as a business hub. And here are a few reasons that make the smallest state of India, a preferred location for startup activity.
1. Location advantage
Accessibility to a number of areas, states, and countries via roads, sea, and air is another advantage, why an increasing number of entrepreneurs are setting up base here.
2. Talent Pool availability
With a high literacy rate, the quality of education in Goa is better than in many other states in the country. Goa is home to many distinguished and reputed educational and technical institutes like BITS and
GEC, thereby providing a large pool of competent talent in the form of skilled professionals.
3. Government Support
Goa has many institutions working specifically toward bringing the state to the forefront on the startup map. Their Startup promotion cell and a plethora of incubators specifically designed for helping startups are changing the startup landscape, providing ease of operation and necessary funding opportunities to various startups.
4. Good Infrastructure
Stable electricity, good internet connectivity, a proper water system, and transportation are crucial in helping startups flourish in the state, and Goa offers all of these.
While Goa has already made a name for itself in the tourism sector, companies in other sectors like healthcare, technology, transportation, and food are strengthening bases and expanding businesses.
5. Affordable housing
As compared to cities like Mumbai, New Delhi, Bangalore and Hyderabad, Goa has relatively affordable real estate. Office spaces in cities like Panjim, Margao, and Vasco are reasonably priced and so are renting any commercial or residential place.
6. Work-Life Balance
Setting up startups and making them flourish, demands longer working hours. But factors like shorter commutes and lesser traffic, contribute towards enhancing family life and time.
Also, accessibility to nature and scenic views, a vibrant nightlife coupled with some of the best restaurants in the country, significantly raise the standard of living.
All of this goes a long way in ensuring work-life balance, making it an ideal location for families to sustain and thrive well.
Many startups like- Vacation Labs, Power stores, Goamiles, TempoGo, Eeztail and Zooter have made a name for themselves in Goa and other states. And many more entrepreneurs are eyeing the state for future opportunities.