KB 94 Start Ups

KNOWLEDGE BEANS I SSUE NO 94 | MAY 2016

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from previous page | CRAFTING SUCCESSFUL STARTUPS – THE INDIANWAY - Sanjay Bobde . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Travis Kalanick - Uber, Larry Ellison - Oracle and Jan Koum - WhatsApp, who have not only earned millions but also created millions of jobs for others. Interestingly, in the US, a school dropout can dabble in technology and entrepreneurship openly and also get the corporate support in the form of early trial orders or joint initiatives. In India however, the British education based system

Agarwals of Flipkart, SnapDeal, Ola, BigBasket etc. could be flash in the pan, unless we understand what is really needed to make this wave work for India. It is important to improve propensity of success in start-ups. In addition to supporting IT start-ups, there is a need for innovation in other supposedly routine or trite areas, which is where large markets and job opportunities exist. There is a clear need for better mentoring and incubation support during

with focus on securing a permanent government job, doesn’t allowmuch scope for such a freedom for exploration. The government and corporates too have not been very supportive of innovation due to ‘lowest tender’policy. Change however is being witnessed now.“Start-up India”is stoking up the innovation fire through the youth by providing the necessary supportive ecosystem of Research and Innovation, Incubation and Funding and simplifying the exit route in case things do not work out. Soon, the Golden Smoke will be a reality in India.

stages of innovation/ideation, PoC/piloting and monetizing/commercial rollout so as to truly convert ideas into business successes at all levels. Adequate incentives for the mature industry need to be institutionalized to mitigate the risks in funding. The start-up mantra can be perfected, with the right support system in India at state and city levels, the JVs of the fired up youth and the elders to support and handhold the youth to business success through symbiotic collaboration. Large customer segments – corporates and governments need to align to support the greenhorn with accommodative procurement policies.We need to be patient and tenaciously supportive with the start-ups. Gold exists at the end of the rainbow.

But will it really pan out the way it is hoped to? The successes of Bansals, Guptas and

OD ENTHUSIAST’s ORATE | Chiranth Patil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . THRIVING IN INDIA’STECHNOLOGYSTART-UP 3.0WORLD: AN INWARD JOURNEY ?

Chiranth Patil is an Indian entrepreneur and angel investor. Currently, he is working on a FinTech venture to solve core problem for SMEs, and also manages an investment partnership to collaborate with early stage technology ventures globally. He was CEO at Gito.me, an eCommerce enablement platform for SMEs in India, and was also a part of Deloitte Consulting and Fidelity Investments, Boston. Chiranth received his MBA from University of Massachusetts, Boston and

2.0 is the consumer experience era where technology products bring repeatable socio-economic value in areas where human intervention proved inefficient or costly. With India adopting mobile as mainstay communications and computing device bypassing land-lines and PCs, distribution is no longer the biggest problem being solved by white goods manufacturers or services organizations. With social media, targeting and engaging with end customers is more efficient and measureable than ever before. Cloud storage and computing meant one could start an internet venture from pretty much anywhere one had an internet connection. Customers have now started demanding richer experience. This has led to a unique value proposition where a combination of tech product and services brings broad solutions to domestic market and scale rapidly. eCommerce companies are possibly the biggest gainers in this space. 3.0 is now expected to be the ubiquitous“everything”era that can be characterized by: Changing consumer behaviour Advancement in inter-connected technologies that are on the bleeding edge of humanization Change in early stage funding weather and Regulatory landscape that is also evolving into deeper partnership This represents a very different set of opportunities and challenges for startups to be conscious of: Unique India problems Revenues first 1 2 3 4 Glocal models -- on demand and personalized Subscription economy/sharing economy Distribution - commerce

B.E. Computer Science from Gogte Institute of Technology, Belgaum.

Indian early stage venture ecosystem is going through a very exciting phase. One foundational belief is that we are in the third avatar of the technology start-up evolution in India. ‘3.0’as it can be loosely coined. 1.0 being the services era where companies were quick to understand the massive potential of India’s tech talent and navigate the changing dynamics of customer/market/competition by harnessing their human resource strengths. These companies continue to create huge domestic employment in the technology space and have enabled the world to look at India as a de-facto destination for their customized business process and technology solutions.

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Connecting first Differentiation Platform as a product Skilling Teams

Changing definition of a unicorn Marketplaces - chicken and egg Revenues vs. growth

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