People in India from various backgrounds have always had the entrepreneurship zeal in them to plunge into the technology business world. But does that mean India is a certain option for entrepreneurs to dwell into?
To answers these questions, we gathered people from different industries to share their views on why is India a good place for tech entrepreneurs.
Vijay Anand // The Startup Centre
Founder and Director of many companies throughout his 13 year stint in the technology market, the Start Up Guy, Vijay Anand, feels that India and Technology goes hand in hand.
He said, “India today represents an opportunity that is hard to ignore. While developed markets are getting saturated and harder to compete in, India and China represent on what’s the unveiling of a significant new marketplace, with its own set of demands in business models and marketplace economics to make it viable.”
On technology and opportunities in the sector, he said, “Technology with its ability to scale, and at the sametime lend its magic to personalize offerings on mass, will be a boon to tap into the potential of this market, and that’s the opportunity that entrepreneurs in India today must and hopefully will leverage on.”
Ashok Lalla // Euro RSCG
Award-winning Digital and Brand Marketing leader, Ashok Lalla, with 18 years of client and agency-side business experience, thinks that India is certainly a good place for tech entrepreneurs. Currently, Director at Digital- Euro RSCG, Ashok Lalla feels that “India has got a very high talent pool ranging from the globally acclaimed IIT stream of tech talent to vibrant pool of tech trained youngsters from the numerous private institutes and local colleges.”
He also added that “India is clearly a focused destination of global investors and corporations, including tech-oriented ones that help create a conducive environment for tech entrepreneurs through supporting them in their journey to realize their India ambitions.”
Ankit Bathija // Interaktive Basement
A 19 year old visual communication expert and interactive marketing practitioner, Ankit Bathija, believes that India is the best place to invest especially in the tech sector.
He said, “I believe India is the best place for tech start-ups due to the relaxed and welcoming business laws & regulations. Easy availability of skilled manpower combined with everything available to an entrepreneur at the best deal possible.”
He added, “Being one of the fastest growing economy and the youngest country in the world, India is amongst the favorites when it comes to technology start-ups.”
Amit Nanda // CellZapp
A web evangelist and co-founder at CellZapp, Amit Nanda feels that tech entrepreneurship is the way to go if you have the right mix of solutions.
“Entrepreneurship is driven by opportunity… And where one finds high growth and a whole spate of problems to tackle, opportunities are abundant, and so too is it in India… Consumers and businesses in India are also willing to try out new products and services (a little bit of the wild west mentality).”
“From a tech entrepreneurs point of view, critical mass in Internet users and a vast mobile subscriber base are huge attractions. Major platforms like Facebook, LinkedIn, Twitter, iPhone, Android are getting adopted rapidly and there is tremendous opportunity to create local solutions around these eco-systems.”
“On the downside, the key challenge is limited access to seed stage capital. Entrepreneurs need to keep this in mind from day one – build a business that will monetize early or via related services that will generate revenue. In India, things can take a lot longer than expected, so planning for the long haul with limited funds and making sure the start-up team has the risk profile to absorb the stress that comes with low burn operations is needed”
Although financial support is dearly lacking in India’s start-up ecosystem, it is only a matter of time that more investors notice its potential. In fact, Accel Partners, an early investor in Facebook, had already taken action with the recent launch of its $400 million fund for Indian entrepreneurs. We can expect more investors to invest their money in India as time passes.
To wrap it up, I personally feel that India is one of the best markets for tech entrepreneurs because of the following reasons:
- It is a emerging market like China
- Skilled and cheap manpower
- Growing economy
- High adaptability and adoption Rate
- Supportive business laws and regulations by the government
- Entrepreneurship zeal amongst Indians
There are opportunities lying in this country ready to be capitalized on. Do you also feel the same? If yes, let us why.