Bengaluru overtakes Mumbai as India's biggest hub for under-30 entrepreneurs
Young entrepreneurs are increasingly choosing Bengaluru to build the next generation of high-growth companies. The Avendus Wealth–Hurun India U30 List 2026 shows the city overtaking Mumbai while showcasing the expanding footprint of India's startup economy.
- Jul 1, 2026,
- Updated Jul 1, 2026 1:12 PM IST
Bengaluru has overtaken Mumbai to become India's biggest hub for entrepreneurs aged 30 and below, signalling a shift in the country's startup landscape as the next generation of founders increasingly builds companies in artificial intelligence, space technology and electric mobility.
According to the Avendus Wealth–Hurun India U30 List 2026, Bengaluru is home to 21 entrepreneurs featured in this year's rankings, up sharply from just seven in 2025. Mumbai, which led the list last year, has slipped to second place with 16 entrepreneurs, while Gurugram ranks third with 12. New Delhi follows with 10 entrepreneurs, while Hyderabad and Kolkata complete the top five with five entrepreneurs each.
The report highlights that Bengaluru's rise mirrors the changing profile of India's startup ecosystem, where technology-led ventures are attracting both founders and investors. The city is home to several entrepreneurs behind high-growth companies spanning AI, electric vehicles, space technology and enterprise software.
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State-level numbers
At the state level, Karnataka also moved to the top of the rankings with 22 entrepreneurs, ahead of Maharashtra, which has 18, and Haryana with 13. The findings reinforce Karnataka's position as India's leading innovation hub, supported by a mature startup ecosystem, venture capital presence and access to engineering talent.
The U30 List recognises 102 entrepreneurs aged 30 years or younger who have either founded companies valued at $25 million or more or are next-generation leaders of family-owned businesses valued at over $50 million. This year's list has expanded by 28% from 80 entrepreneurs in 2025, while the combined valuation of companies represented stands at ₹2.9 lakh crore. The average age of entrepreneurs on the list is 28 years.
Non-metros
The report also points to the widening geographical spread of entrepreneurship. While Bengaluru strengthened its leadership position, non-metro cities accounted for 40 entrepreneurs on this year's list, indicating that startup activity is no longer confined to India's largest metropolitan centres.
Top cities for under-30 entrepreneurs (Avendus Wealth–Hurun India U30 List 2026)
| Rank (2026) | City | No. of Entrepreneurs | Change from 2025 |
|---|---|---|---|
| 1 | Bengaluru | 21 | +14 |
| 2 | Mumbai | 16 | +1 |
| 3 | Gurugram | 12 | +9 |
| 4 | New Delhi | 10 | +6 |
| 5 (tie) | Hyderabad | 5 | New entrant |
| 5 (tie) | Kolkata | 5 | +1 |
| 7 (tie) | Chennai | 3 | No change |
| 7 (tie) | Noida | 3 | No change |
| 9 (tie) | Salem | 2 | New entrant |
| 9 (tie) | Udaipur | 2 | New entrant |
| 9 (tie) | Ahmedabad | 2 | -1 |
| 9 (tie) | Jaipur | 2 | -2 |
Source: Avendus Wealth–Hurun India U30 List 2026
Sectoral trends
Sectoral trends suggest that DeepTech has become one of the defining themes among young founders. One in four entrepreneurs on the list comes from DeepTech and HardTech sectors, including artificial intelligence and machine learning, electric vehicles and auto components, space technology, aerospace and defence, and cybersecurity. AI and Machine Learning alone accounts for eight entrepreneurs across six companies, while SpaceTech is represented by six founders across ventures such as Pixxel, Digantara and Apolink.
The report also found that 84% of entrepreneurs featured are first-generation founders, underscoring the continued strength of self-made entrepreneurship in India. Seed-stage companies have also increased to 13 from five last year, pointing to a stronger early-stage innovation pipeline.
Funding
Funding continues to remain concentrated among a handful of breakout startups. The top 10 U30-led companies have collectively raised more than $3.5 billion, led by Zepto with $2.3 billion and BharatPe with $650 million. Collectively, entrepreneurs on the list employ more than 75,000 people, highlighting the growing economic contribution of India's youngest business leaders as the country's startup ecosystem evolves beyond consumer internet businesses into engineering- and technology-driven ventures.
Bengaluru has overtaken Mumbai to become India's biggest hub for entrepreneurs aged 30 and below, signalling a shift in the country's startup landscape as the next generation of founders increasingly builds companies in artificial intelligence, space technology and electric mobility.
According to the Avendus Wealth–Hurun India U30 List 2026, Bengaluru is home to 21 entrepreneurs featured in this year's rankings, up sharply from just seven in 2025. Mumbai, which led the list last year, has slipped to second place with 16 entrepreneurs, while Gurugram ranks third with 12. New Delhi follows with 10 entrepreneurs, while Hyderabad and Kolkata complete the top five with five entrepreneurs each.
The report highlights that Bengaluru's rise mirrors the changing profile of India's startup ecosystem, where technology-led ventures are attracting both founders and investors. The city is home to several entrepreneurs behind high-growth companies spanning AI, electric vehicles, space technology and enterprise software.
MUST READ: China's AI price war is exposing India's biggest weakness: Why India needs its own DeepSeek
State-level numbers
At the state level, Karnataka also moved to the top of the rankings with 22 entrepreneurs, ahead of Maharashtra, which has 18, and Haryana with 13. The findings reinforce Karnataka's position as India's leading innovation hub, supported by a mature startup ecosystem, venture capital presence and access to engineering talent.
The U30 List recognises 102 entrepreneurs aged 30 years or younger who have either founded companies valued at $25 million or more or are next-generation leaders of family-owned businesses valued at over $50 million. This year's list has expanded by 28% from 80 entrepreneurs in 2025, while the combined valuation of companies represented stands at ₹2.9 lakh crore. The average age of entrepreneurs on the list is 28 years.
Non-metros
The report also points to the widening geographical spread of entrepreneurship. While Bengaluru strengthened its leadership position, non-metro cities accounted for 40 entrepreneurs on this year's list, indicating that startup activity is no longer confined to India's largest metropolitan centres.
Top cities for under-30 entrepreneurs (Avendus Wealth–Hurun India U30 List 2026)
| Rank (2026) | City | No. of Entrepreneurs | Change from 2025 |
|---|---|---|---|
| 1 | Bengaluru | 21 | +14 |
| 2 | Mumbai | 16 | +1 |
| 3 | Gurugram | 12 | +9 |
| 4 | New Delhi | 10 | +6 |
| 5 (tie) | Hyderabad | 5 | New entrant |
| 5 (tie) | Kolkata | 5 | +1 |
| 7 (tie) | Chennai | 3 | No change |
| 7 (tie) | Noida | 3 | No change |
| 9 (tie) | Salem | 2 | New entrant |
| 9 (tie) | Udaipur | 2 | New entrant |
| 9 (tie) | Ahmedabad | 2 | -1 |
| 9 (tie) | Jaipur | 2 | -2 |
Source: Avendus Wealth–Hurun India U30 List 2026
Sectoral trends
Sectoral trends suggest that DeepTech has become one of the defining themes among young founders. One in four entrepreneurs on the list comes from DeepTech and HardTech sectors, including artificial intelligence and machine learning, electric vehicles and auto components, space technology, aerospace and defence, and cybersecurity. AI and Machine Learning alone accounts for eight entrepreneurs across six companies, while SpaceTech is represented by six founders across ventures such as Pixxel, Digantara and Apolink.
The report also found that 84% of entrepreneurs featured are first-generation founders, underscoring the continued strength of self-made entrepreneurship in India. Seed-stage companies have also increased to 13 from five last year, pointing to a stronger early-stage innovation pipeline.
Funding
Funding continues to remain concentrated among a handful of breakout startups. The top 10 U30-led companies have collectively raised more than $3.5 billion, led by Zepto with $2.3 billion and BharatPe with $650 million. Collectively, entrepreneurs on the list employ more than 75,000 people, highlighting the growing economic contribution of India's youngest business leaders as the country's startup ecosystem evolves beyond consumer internet businesses into engineering- and technology-driven ventures.