The growing internet penetration has fuelled India’s start-up ecosystem, which is now the third biggest in the world. US-based Compass (Startup Genome), in its 2015 report, puts Bangalore as the world’s second fastest growing start-up ecosystem. There is a massive opportunity within the $2 trillion Indian economy owing to the consumption fuelled by 1.3 billion Indians and a good number of Indian start-ups are focusing on that. In fact, 7 of the 9 Indian unicorns are focusing on the domestic consumption story.
However the $150bn Indian IT services industry tells us that it is very important to look outside of your home market to create a world leading organization. Most large Indian IT companies derive 75% of their revenue from the US and Europe; and that allows them to create industry leading best practices besides scale, maturity and an innovative edge to enter the top global league. The new generation Indian tech product companies need to take a leaf out of these successful Indian enterprises.
Here are some of examples of how Indian product technology companies are challenging their global peers –
“Made in India, Made for the World” Zoho has over 20 million users across the globe, and is gunning to reach the 100 million users mark currently..
RateGain works with 12,000 hotels worldwide to help them enhance their revenue and optimize their inventory.
Chennai-based Indix has the world’s largest product database now – 50,000 brands and over 700 million products.
Mumbai-based fintech and cybersecurity company, Seclore, has created one of the most secure enterprise rights management systems in the world.
India Emerging Twenty (IE20) aims to discover the next 20 most promising Indian companies to go global and provide them the visibility and platform to help them make a mark in the global arena. This unique programme is led by London & Partners, the Mayor of London’s inward investment company which has a proven track record working with over 2000 international businesses.
IE20 – Catapulting businesses to the global stage
Last year, 222 Indian companies nominated themselves for the inaugural edition of the IE20. Winners included companies of all shapes and sizes – from organisations turning over a few hundred thousand in top-line ($$ of course), to others touching $100 million. From IT services companies employing thousands of staff, to lean and mean start-ups growing into adouble digit head count. Many of the winners (including Seclore, RateGain and Indix) are already pioneers in their space; while others are positioning themselves to challenge their global peers. From “Battle-tested Cybersecurity solutions” to companies collaborating with global universities to discover the next big thing in genomics, these companies reflect the new wave of a global technology ecosystem – disruptive technologies that will transform our lives and the way we do our business.
The programme is supported by BDO, Newland Chase, Santander UK plc, Lalit Hotels and the UK’s Department for International Trade.
Companies registered in India OR those registered outside of India having a majority Indian management.
Companies should have worked with global clients, and/ or have products suited for global markets. Having an international presence isn’t necessary.
Established after year 2000 and should have global ambitions.
Selection process and benefits
The selection process, spanning over a period of 20 weeks, will assess companies on the basis of three broad parameters – global scalability, innovation and differentiation and performance. Companies need to nominate themselves for the programme using the application form (link). ValueNotes, the knowledge partner, will use their 3-stage assessment framework and a robust rating model to ensure a high quality selection of the top 50 companies. These companies will be invited to make a brief presentation before a panel of business experts, who will then select the final top-20. . The panel round will be held in Mumbai, Bangalore and Delhi in late January/early February 2017..
The selected 20 companies will be felicitated and awarded, which will help them gain international recognition – critical to global expansion. The awards programme will also offer opportunities to network with investors, business heads, thought leaders and mentors of global repute. Courtesy of Air India, all 20 companies will be flown to London to participate in a high impact business programme during London Technology Week, in June 2017.
The nomination process has already begun and the last date to send in your nomination is 16th December 2016. For more details, visit www.indiaemerging20.com
Guest post by Gautam Sehgal, Chief Representative, India, London & Partners International