Which startups in Kochi are hiring
Such is the Indian start-up market - an insider report
Countries like India, Thailand or Brazil have a strong attraction for people who want to emigrate and for founders. These countries now offer a relatively high standard of living, low cost of living and a large number of skilled workers to work with. After my studies and a few years of professional experience, I also decided to seek my fortune abroad and founded a start-up in India.
The economy in India has grown enormously in recent years and the start-up landscape there is currently developing rapidly. A few years ago I got to know the country better through an internship. When I decided to start my own company in 2012, I quickly realized that you need a lot of equity in Germany to cover the cost of living, taxes, insurance and other costs.
At that time, I had already founded my start-up Yuhiro. The goal of the start-up was to provide qualified IT employees from India. Over time, however, we noticed that most companies wanted to outsource IT projects to India, but had little interest in IT staff. We were able to win many well-known customers, especially in the field of mobile applications for medium-sized companies. The only and crucial problem, however, was that the quality that was being supplied from India left a lot to be desired.
After a brief period of deliberation, I then decided to pack my bags and go to India to be able to carry out the quality controls there myself. I have been in India for about 2 years now and have not regretted it so far.
Little differences in mentality
The mentality differences are a lot smaller than I had previously imagined. These are negligible, especially among the younger generation. Especially because young people grow up doing the same things as we Europeans: Hollywood films are very popular. Most use Facebook, Twitter, Pinterest and the other social media channels to communicate with each other. The eating behavior adjusts itself.
However, the issue of quality in the IT area has long been a major construction site. But that has improved, because my own work is now being compared more and more with international standards. You don't want to stand back in any way.
The start-up culture in India
The start-up landscape in India is incredibly exciting. During my time as an intern in India a few years ago, there wasn't very much going on in this area. The picture has changed a lot for about two years now: There are now a number of interesting start-up incubators, such as the Startup Village in Kochi (South India).
Another change is currently taking place in innovations. There were only a few product start-ups over a long period of time. In many cases, these only had copies of existing things in their portfolios. A change of heart has taken place. There is now an urge to bring your own innovative products onto the market. A good example is RHLvision Technologies: The company has developed a prototype for a ring that can be used to control a wide variety of devices. The product was able to collect over 200,000 euros via Indiegogo. In my opinion, something like this would have been unthinkable until a few years ago.
Funding: Strong focus in the USA
In order to find funding and ideas, India is still very much geared towards the USA. Germany, on the other hand, unfortunately has very little appeal as a destination for innovative Indian start-ups. Indian start-ups often first set up their business in the USA or start in India and then dare to leap across the pond. Reason: There are many and willing investors in the USA and at the moment the interesting innovations are still coming from there. The very mature ecosystem for start-ups in America is particularly attractive. The Berlin trend has not yet arrived in India. That will certainly change in the next few years as soon as the first Berlin success stories get around here.
German founders in India
There are many German founders who are looking for happiness in this country. My estimate is several hundred a year. Some of them are very successful, such as the founders of eSupply. You sell do-it-yourself products such as drills, milling machines and others to business customers via an online portal.
However, the German start-up scene in India is not really well networked with one another. One of the reasons for this is that the founders are spread across the whole country. We are therefore currently thinking about setting up an umbrella organization. It should offer a platform for an exchange, also for other nationalities, such as those from the English-speaking and Scandinavian countries. Especially in the big cities like Bangalore, there are a large number of international start-up companies.
The best places to start
The strongholds of the start-up scene in India are currently Bangalore, Madras and New Delhi. But also smaller cities like Pune and Cochin offer an interesting ecosystem with incubators and investors. Each location has its advantages and disadvantages: Bangalore is the best-known city in India when it comes to IT topics or start-ups, but there is a fierce battle for the best minds there. Cochin attracts with a good working atmosphere and low prices for rents and living costs.
The largest number of start-ups are in Banglore with 591 technology-oriented start-ups, followed by Delhi with 237 and Chennai (formerly Madras) with 203. Pune and Mumbai follow with 149 and 136 start-ups respectively. (Source: Microsoft India Accelerator 2014)
Required capital for a foundation in India
Those who budget sparingly and break even quickly can get off to a good start with the equivalent of around 20,000 euros in capital. In addition to equity, there is also the option of obtaining funding from venture capital companies. In the period from January to March 2014, over 437 million dollars were distributed to technology start-ups in India (source: nextbigwhat.com). Notable companies here are Snapdeal, which got $ 133.77 million and Quikr with $ 90 million.
My conclusion so far is positive! With our start-up in the field of IT services - mobile applications and eCommerce solutions - we have already been able to successfully carry out larger projects and win interesting customers from Germany. It seems as if the IT service market is becoming more and more interesting for companies from the German-speaking area and the previous doubts about the quality that comes from India seem to have subsided. The start-up scene in India is also developing and professionalising rapidly. I recommend looking around India. There is a young generation of well-trained founders with innovative ideas that we can work with here.
In line with this topic: "About unimagined potential in the growth market of India”
Sascha Thattil is the founder and managing director of Yuhiro, which offers mobile apps and eCommerce solutions for startups and medium-sized companies from India. He is also an interested blogger and deals there with all aspects of mobility and software development.
Photo: India flag waving on the wind from Shutterstock
Christina Cassala, editor at deutsche-startups.de, was already working as a journalist in her best university days in the 1990s. Immediately after completing her traineeship, she worked for a specialist publishing house in Hamburg before joining deutsche-startups.de in 2007 and since then has observed developments in the start-up scene in Germany with great curiosity.
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