Bengaluru hosts most entrepreneur residences in India, Mumbai and Gurugram follow

The latest IDFC FIRST Private Banking–Hurun India 2025 list shows Bengaluru leading in founder residences and startups, while Mumbai and Gurugram gain momentum, reflecting a wider spread of entrepreneurial growth across Indian cities.

Bengaluru continues to hold its position as India’s leading city for entrepreneur residences, hosting 88 founders, according to the third edition of the 2025 list released by IDFC FIRST Private Banking and Hurun India on Wednesday. Mumbai follows closely with 83 founders, while Gurugram ranks third with 32, highlighting a gradual shift in where self-made entrepreneurs are choosing to live.

The city also remains India’s top startup hub, with 52 companies headquartered in Bengaluru. However, this marks a decline of 14 companies compared to last year, indicating a slow redistribution of startups across other major cities. Mumbai ranks second with 41 companies, an increase of five, while Gurugram stands third with 36 companies, also adding five over the previous year. These figures point to rising entrepreneurial activity beyond the traditional Bengaluru-centric ecosystem.

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Several well-known founders are based in Bengaluru, including Swiggy co-founders Sriharsha Majety and Nandan Reddy. Mumbai’s entrepreneurial landscape includes Avenue Supermarts, founded by Radhakishan Damani, while Gurugram features Eternal, led by Deepinder Goyal.

Other cities also feature prominently in the top 10 founder residence list. Chennai hosts 15 founders, followed by Pune with 13, Hyderabad with 12, Kolkata with 10, Ahmedabad with nine, and Jaipur with seven. A similar pattern is seen in the distribution of companies. After Bengaluru, Mumbai and Gurugram, Chennai has 11 companies, New Delhi 10, Hyderabad and Pune eight each, Noida seven, Ahmedabad five, and Jaipur and Kolkata four each. This spread reflects a more balanced startup presence across multiple regions.

Education continues to play a strong role in shaping India’s entrepreneurial talent. Among undergraduate institutions, IIT Delhi leads with 38 founders, followed by the University of Delhi with 24 and IIT Kharagpur with 21. At the postgraduate level, IIM Ahmedabad tops the list with 21 founders, followed by IIM Calcutta with 12 and the Indian School of Business with 11.

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Women entrepreneurs are also making a strong impact. Nykaa founders Falguni Nayar and Adwaita Nayar lead the women’s category, with their company valued at ₹67,500 crore, underlining the growing influence of women in India’s startup ecosystem.

Overall, while Bengaluru remains the dominant centre for founders and startups, the steady rise of Mumbai, Gurugram and other cities signals a more diverse and dynamic entrepreneurial landscape in India heading into 2025.