Hyderabad: Looks like “one size fits all” mantra doesn’t really work in the technology space. Especially with disruptive technologies and digital media making inroads into our lives, a product definitely needs to suit a customer’s or an enterprise’s needs.
Reflecting this view, experts at the Nasscom Product Conclave on Thursday said that most Indian companies fail to make their products globally viable. “Indian companies fail to make a product globally marketable and that is one of the challenges we face today,” said B.V.R. Mohan Reddy, chairman and MD, Infotech Enterprises.
Despite India being one of largest markets in the world in terms of its sheer size, entrepreneurs still suffer from low-valuation of a start-up and early stage funding. To overcome these obstacles, it is necessary to make communication easy using big data, cloud and mobility, added Mr Reddy.
With India’s engineering exports pegged to reach $10 billion by 2020 from the current $2.2 billion, in a global market worth $1.2 trillion, there is immense potential in tier II and III cities of the country which are largely uptapped, said experts.
Commenting on how to make companies or start ups visible on a global platform, Anu Acharya of mapmygenome said: “Believing in yourself, building an idea, branding it right and buying a product are the four steps to make it globally viable.” For instance: Facebook’s acquisition of Bengaluru based Little Eye Labs has been dubbed as one of the biggest start-ups takeovers from India.
Given that most founders are from MNCs like Microsoft, Yahoo, IBM, etc, Mr Reddy feels that the ecosytem can grow if the founding team of start ups is diverse and if research work in academia is put to use. “This will enable an easy exit route for venture capitalists and angels.”
