Tech Founders Deliberate Whether India Is In The Global Tech Space?
Founders Akshay Datt Of Unnati, Akshay Ghulati of Shiprocket, Bijai K. Jayarajan of Houm Technology, hyperXchange’s Dipanjan Purkayastha, Manjeet Singh of Buddy4study and Neha Rastogi of Agatsa deliberate on Indian standing in the global tech space
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(L-R): Akshay Datt, Founder & CEO, Unnati; Neha Rastogi, Founder & COO, Agatsa; Dipanjan Purkayastha, Co-Founder & CEO, hyperXchange; Akshay Ghulati, Chief Business & Strategy Officer, Shiprocket; Bijai K. Jayarajan, CEO, Houm Technology; Manjeet Singh, CEO & Co-Founder, Buddy4study
Indian companies in the tech space are taking significant leaps to make their startups successful. With the help of cutting edge technologies, the companies believe in solving issues affecting the world around them.
However, the elephant in the room is that Indian tech space is largely copying giant global tech companies. “India has never given a global product and it is not creating anything new,” admitted Bijai K. Jayarajan, CEO, Houm Technology. He explained that 99 per cent of all data on the internet is lying on servers of only two organisations in the world and that India doesn’t own any of the two.
This is despite the fact that India is home to global technology and digital talent.
Offering a different perspective on the debate, Purkayastha said, “It is very easy to say that Indian Startups are copying global leaders but in India, you have to innovate; you have to be able to work with the idiosyncrasies of the Indian market, Indian drivers, Indian consumers, and the lack of loyalty of Indian consumers.
Seconding this school of thought, and adding a perspective, Neha Rastogi, Founder & COO, Agatsa stated, “Products don’t become global in a day.” She cited the example of how Zoho, the Indian web-based online office suite is going global. Adding on to this point, the Co-Founder and CEO of hyperXchange, Dipanjan Purkayastha said, “We should encourage the early stage product companies for a positive future.”
The entrepreneurs expressed concern on how many India companies receive ‘no support’ from technology investors in India. Tele, an example of Indian innovation was cited as a case in point. Jayarajan, however, emphasised on consumers’ role in making a product or service go global. According to him, “A global technology product is an end consumer used product.”
However, the Indian startup companies tend to leverage emerging cutting edge technologies to cater to the country’s mobile-prone generation.
Manjeet Singh, CEO & Co-Founder of Buddy4study voices a point on ‘inspiration’ which the Indian entrepreneurs take from the global leaders, and believes that “an idea only contributes 5 per cent to the value, and the rest is based on execution”.
These technology influencers were presenting their views at BW Businessworld and BW Disrupt TechTors 2020, presented by Jumpnet which took place in New Delhi on January 23, 2020.
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