CEO of advisory firm linked to Bitcoin lists 7 reasons why Bengaluru must be ‘on your radar’

Alessandro Palombo, the co-founder and CEO of Bitcoin advisory firm Bitizenship, listed seven reasons why Karnataka's Bengaluru should be on your radar.

Alessandro Palombo called Bengaluru a $158-billion startup ecosystem which accounts for 66 per cent of India's IT exports and is where over 40 unicorns were born.

'Bengaluru is a world player'

The Bitcoin chief said that the city is “not just India's hub but a world player” and that it was ranked 21st worldwide. “Bengaluru is no sleeper. It is a launchpad drawing eyes from Silicon Valley to Shenzhen,” Palombo said.

For the second reason, he said Bengaluru is a “tech talent hub”. “Over 100,000 engineers graduate yearly, powering 400+ R&D centers—Samsung’s biggest outside Korea, Intel’s AI labs. It is why 80 per cent of India’s global IT offices land here—a talent goldmine built over decades,” he noted.

He noted that Bengaluru ranks third globally based on the number of tech startups it hosts and accounts for 57 per cent of India's startup funding in total. Bengaluru has also raised $31 billion (nearly ₹2.7 lakh crore) in the last 10 years.

Breeding ground for unicorns

Indian unicorns like Flipkart and BYJU's started in Bengaluru, along with several other decacorns. Palombo called it a “unicorn factory” and said in February 2025, the city led India's $1.65 billion (over ₹14,300 crore) funding wave.

“Bengaluru produces thousands of new engineers every year,” he said, adding that it has outperformed San Francisco in startup creation. In 2015, Bengaluru had over 3,000 startup founders while San Francisco had only 2,040 startup founders. The trend has continued into 2020, when Bengaluru and San Francisco accounted for 875 and 619 startup founders respectively.

Export engine

Palombo noted that Bengaluru accounts for 66 per cent of India's IT exports. While India's five southern states account for 20 per cent of India's population, they account for 31 per cent of India's GDP, driven by the IT sector, electronic goods exports and global capability centres.

He also noted that the per capita GDP across south India as of 2022 has reached $3,176 per year, which is over double that of north central states, at $1,411 per year. The number for the US and China stood at $76,434 a year and $12,733 a year respectively.

Bengaluru is a potential expat haven

The city allows 100 per cent foreign ownership and has direct flights to San Francisco, London, Dubai and Singapore. Additionally, the living costs in Bengaluru are 50 per cent below Western hubs.

“English is common and policies favour startups - huge for outsiders,” Palombo said.

In a video he posted, another foreign national was seen saying Bengaluru's society is more receptive to outsiders' influence as compared to Mumbai and Delhi.

Bengaluru is wired for the future

Palombo called the city the spearhead of India's dream of becoming a $1 trillion economy by 2030. “A ₹100 crore venture capital fund for AI and EVs, plus ₹50 lakh grants for deep tech are live,” he said.

Chaos and opportunity collide in the city

Noting an issue that has been in Bengaluru's spotlight for years, Palombo said the city's traffic is "brutal and infrastructure struggles to keep up with rapid growth.

“But a $10 billion metro is rising…I saw chaos and opportunity collide - Bengaluru's edge,” Palombo said. A video he shared noted that due to bumper-to-bumper traffic in Bengaluru, many expats are moving to gated communities.

Concluding his experience, he said parts of the city are “clearly under development”, which cannot be ignored when considering this place for a potential longer-term location. “But the potential opportunities for the right person is immense!” he said.