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Indiranagar located in the eastern part of bangalore india has become a hub for tech startups in recent years the area is named after the former prime minister of india indira gandhi and has a rich history dating back to the preindependence era with a population of over 100000 people indiranagar is known for its vibrant nightlife and upscale residential areas the area is home to many successful startups including swiggy dunzo and curefit technological innovations have been a driving force behind the growth of indiranagars startup scene the area is home to several incubators accelerators and coworking spaces that provide entrepreneurs with access to resources and mentorship indiranagar is also known for its high concentration of local universities including the indian institute of science the indian institute of management and the indian institute of information technology these institutions have helped to cultivate a skilled workforce and foster a culture of innovation the living wage in indiranagar is estimated to be around inr 25000 per month 340 usd with an unemployment rate of around 5 the city level gdp of bangalore is estimated to be over 100 billion usd and the rate of new companies starting and ending is relatively high due to the competitive nature of the startup scene despite facing challenges such as high competition and rising costs indiranagars startup scene is thriving due to the strong support network and resources available to entrepreneurs the area has become a hotspot for venture capital investments and is projected to continue growing in the coming years
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