Bengaluru has emerged as the leading base for young entrepreneurs in India, with 52 individuals featured on the Avendus Wealth–Hurun India U35 List 2026 residing in the city. The list also places Bengaluru first in the number of company headquarters represented, highlighting its continued role in the country’s startup ecosystem.
Bengaluru continues to attract young business leaders and emerging entrepreneurs, according to the Avendus Wealth–Hurun India U35 List 2026. The latest edition features 180 entrepreneurs aged 35 or younger, with the Karnataka capital recording the highest concentration of listed entrepreneurs and companies among India’s major business centres.
The report identifies 35 company headquarters associated with the listed entrepreneurs in Bengaluru. Mumbai follows with 28 headquarters, while Gurugram ranks third with 14. New Delhi and Noida share the next position, with nine headquarters each.
The findings underline Bengaluru’s continued importance as a centre for entrepreneurship, technology businesses and company building, while also reflecting the presence of other established startup and corporate hubs across the country.
Bengaluru, Mumbai and Delhi NCR Feature Among Leading Entrepreneurial Hubs
The geographical distribution of entrepreneurs on the list shows Bengaluru ahead of other major Indian cities. A total of 52 entrepreneurs featured in the 180-member cohort reside in Bengaluru.
Mumbai ranks second with 30 entrepreneurs, followed by New Delhi with 25. Gurugram accounts for 14, while San Francisco and Ahmedabad each have 10 entrepreneurs represented on the list, according to the report.
Among the business leaders residing in Bengaluru are Harshil Mathur of Razorpay, Aditya Bagmane of Bagmane Developers and Thomas Mathew of Joyalukkas.
Mumbai’s representation includes Reliance leaders Akash Ambani and Isha Ambani, along with Madhur Gupta of Lloyds Metals & Energy. New Delhi’s entries include Adwaita Nayar of Nykaa, while PRISM (OYO) founder Ritesh Agarwal is among the entrepreneurs associated with Gurugram.
At the state level, Karnataka leads with 53 entrepreneurs, followed by Maharashtra with 35 and Delhi with 25.
Hurun U35 List Records Growth in Young Business Leadership
The 2026 edition features 180 entrepreneurs, representing a 16% increase from the 155 individuals included in the 2025 list. The companies associated with this year’s cohort have a combined valuation of ₹48 lakh crore, up 23% from the previous year.
The average age of the entrepreneurs has fallen to 33, compared with 34 in the previous edition. The list also includes 37 companies valued at more than $1 billion, reflecting the scale of businesses represented in the cohort.
First-generation entrepreneurs account for 127 individuals, or 71% of the list. The remaining 53 are next-generation leaders associated with family-owned and listed businesses.
Women account for 23 entries in the 2026 edition, including 11 first-generation founders and 12 next-generation leaders. Their representation has increased by 53% year-on-year, according to the report.
The businesses represented by the cohort collectively employ more than 5.88 lakh people, indicating the employment footprint of companies led by these young entrepreneurs.
Software, Fintech and AI Feature in the Sectoral Breakdown
Technology-led businesses continue to account for a significant share of the entrepreneurs featured in the list. Software Products and Services leads the sectoral breakdown with 18 entrepreneurs, followed by FinTech with 17.
Artificial Intelligence and Machine Learning recorded one of the most notable increases. The number of entrepreneurs in this category rose from three in 2025 to 12 in 2026, reflecting the growing presence of AI-focused businesses in the cohort.
The report also highlights the educational backgrounds of the entrepreneurs. IIT Delhi leads the undergraduate institution rankings with 11 alumni, followed by IIT Kharagpur with 10. IIT Madras and the University of Delhi have seven alumni each.
For postgraduate education, IIT Madras and the Indian School of Business lead with five alumni apiece, followed by IIT Bombay with four.
What the Findings Indicate for India’s Startup Ecosystem
Bengaluru’s position across both entrepreneur residency and company headquarters suggests that the city remains an important base for young business leaders. Its presence in technology-led sectors, particularly software and AI, is consistent with its established role in India’s startup landscape.
At the same time, Mumbai, Gurugram, New Delhi and Noida continue to feature prominently, demonstrating that entrepreneurial activity is spread across multiple business centres.
The increase in the number of entrepreneurs on the Hurun U35 List, alongside the cohort’s combined company valuation and employment figures, offers a snapshot of the scale achieved by younger business leaders in India.
As technology sectors evolve and new businesses emerge, the distribution of founders across cities will remain an important indicator of how India’s entrepreneurial ecosystem is developing.
Source: Avendus Wealth–Hurun India U35 List 2026.
