Choosing Vizag: A Thoughtful Alternative to Tier-1 Cities
Many people ask, “Why choose Vizag over Bengaluru, Chennai, or Hyderabad?”
I tried to dodge the question, assuming that experienced founders would already understand the reasoning. But, the persistence of the question compelled me to articulate my perspective.
As founders, we face significant risks in pursuit of even greater rewards. For years, I couldn’t comprehend why founders didn’t flock to Tier-1 cities. But, my own entrepreneurial journey shifted that perspective.
For a founder from a Tier-2 or Tier-3 city, relocating to a Tier-1 city may not be a large hurdle. What matters are the benefits—economic value and a positive startup environment.
When relocating promises a two or threefold increase in value, the allure of support from venture capitalists and accelerators diminishes.
Founders often gravitate toward planning for places like Silicon Valley, where the potential impact can be greater than contending with a skeptical local scene.
In my experience, venture capitalists, accelerators, and mentors ask, “Is your product ten times better? Is your go-to-market strategy and team ten times more effective?”
Rarely do they inquire whether the support available to them is ten times better.
From my perspective, I’d rather seek opportunities abroad than grapple with local skepticism.
The key is to focus on delivering value and seeking reciprocation. Before making a move, consider the following:
1. Where Are Your Customers? Identify where your target audience resides and where it is easiest to reach them.
2. Cost Advantages: Tier-2 and Tier-3 cities often offer lower costs, a significant advantage for startups.
3. Available Support: Research the support ecosystem. Are there accelerators, incubators, and mentors accessible to you?
4. City Size and Environment: Determine whether you prefer a bustling city or a smaller town, and whether a fast-paced or relaxed environment suits your style.
Choosing a place to grow your venture involves weighing these critical factors.
While Tier-1 cities may seem like the obvious choice, it’s essential to assess your unique situation and the value that different environments can offer. In doing so, you may discover that alternatives like Vizag present compelling opportunities for growth and success.