Indian startups are making big news. We’ve all heard of recent acquisitions of new -tech IT companies like Eyelabs and others. It is interesting that many start-ups have been started by former employees of R & D Centres opoened by MNCs in India. This is a great development as it shows there is a trickle out effect of MNC R & D centres. We had been persistently advocating this including in our High-Tech Forum. Shows that there is no stopping a good idea.
Big thanks to Product Nation and iSPIRT, first rate think tank and platform for the IT software industry and to the members of our Forum –Shri Sharad Sharma, Shri Avinasha Raghav, Shri Kunal Bajaj – for re-focusing attention on the need for Indian home-grown products with Indian IPR, rather than the body-shopping model which does not lead to indigenous innovation in the same way. This has forced other entities to focus on indigenous innovation and Indian products. Indians are on the move!
But we still have a long way to go, as India still “has an abysmal record in creating software products — estimated to account for just $2 billion in the $100 billion Indian IT industry”.
“Indian start-ups draw big clients, investors” Business Line, Feb 12, 201 Venkatesh Ganesh, Bangalore, February 11:
A new breed of Indian start-ups that stormed into the technology industry with innovative solutions is beginning to attract the attention of large enterprises as well as investors. Ventures such as Kayako Infotech, Knowlarity Communications and Seclore Technology stand out in the crowded IT world with their services, and now boast of Fortune 500 companies as clients….”