India's Exciting and Booming Tech Sector
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INDIA’S EXCITING & BOOMING TECH SECTOR Opportunities, Risks, and the Way Forward A pres entaon by Troy Erstling
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Transcript of India's Exciting and Booming Tech Sector
IndIa’s ExcItIng & BoomIng tEch sEctor
opportunities, risks, and the Way Forward
A presentation by Troy Erstling
my story
International Studies from the University of Arizona, Tucson.
Awarded the IDEX Fellowship in Social Enterprise
Studied abroad in Buenos Aires, Argentina.
NENZoom
Ekho Water
From Manalapan, NJ
Taught English in Seoul, South Korea
my story
We help young professionals find employment opportunities abroad with early stage startups and social enterprises.
Bringing talent to startups in Emerging Economies
What you need to know
World’s fastest growing startup Ecosystem with over 800 new tech startups sprouting every year!
Investment is flowing – unlike other parts of SE Asia money is flowing through India at record numbers.
Venture capital and private equity investments expected to double to $1.2B in 2014
India recently rated #9 in the world for expat quality of life
over 50% of all startups come out of Bangalore
notable companies
Why Bangalore is awesome:
startup Ecosystem report 2012
most attractive cities for young grads
Percentage of movers who are young graduates
17.9Phoenix, Arizona Area
42.3Paris Area, France39.9Washingtom D.C. Metro Area39.8Greater Minneapolis-St. Paul Area
39Madrir Area, Spain37.8Greater Chicago Area37.6Greater New York City Area
34.8London, United Kingdom34.3San Francisco Bay Area33.8Bengaluru area, India33.6São Paulo Area
32.7Houston, Texas Area32.7Greater Boston Area32.3Greater Seattle Area
30.3Pune area, India29.9Greater Los Angeles Area
28.5Greater Atlanta Area28hyderabad area, India28Greater San Diego Area
24.7Greater Denver Area22.3new delhi area, India
20.8mumbai area, India
downsides
Many «Me-too» ideas
“Instagram/FB of India”
Services oriented
Data Analytics, Web Development, Mobile Apps
Investors with unfavorable terms
Series A crunch
two Valuable Lessons
As per Paytm estimates, there are about 60 million smartphone users in India out of which Paytm will have over six million monthly users by end of this month.
300,000 transactions on a daily basis.
On a monthly basis, Paytm has been doing around seven million transactions and it’s confident enough to enable a million transactions on a daily basis sometime in 2015.
This is more than amazon, Flipkart and myntra
Lesson #1 – mobile First
two Valuable Lessons
Platform for creative expression for University students – akin to a FB for creatives in the early days
“Unmagazine” enabled them to penetrate 2000+ campuses
organize on campus events, recruitment fairs, contests, internships to promote their brand at Uni’s.
Lesson #2 – Importance of offline marketing
companies started by Expats
difficulties starting Up
Ranks as one of the worst countries in terms of ease of starting a business (#176)
Lack of sufficient infrastructure
Legal Red Tape
«24 hours vs. 24 days» in responses
Payments on time
Scaling difficult due to cultural issues
hiring and retaining talent - only specific talent buckets - as you scale becomes increasingly harder to get quality talent on board
Key markets
IndonesiaJakarta
Population 241m 95m 28m89m 64m 5m
55m 30m 17.5m30m 17m 3.6mInternetpopulation
92% 99% 124%60% 115% 150%mobile
subscriptions vs population
$2.41 $4 $15$5 n/a $35.4mobile arPU in $Usd
VietnamHo Chi Min
PhilippinesManila Bangkok
thailandKualaLumpur
malaysiaSingapore
singaporeSingapore
20% 20% 27%10% n/a 73%smartphone vsfeature phone
