In Asia, the only tech market that is halfway as exciting as China is India, It has the promise to close the gap with China but is no much yet. India’s mobile market is large, venture spending is vibrant, and high-profile IPOs as MakeMyTrip are happening with more on the way soon from up such swift up and comers as mobile and service in Mobi and PC help center iYogi. India has proven that it is rich in R&D and a lot more than outsourcing. Red tape and poor infrastructure hold back the entrepreneurial spirit here. The Investors Bill Draper, Lip-Bu Tan and Sumir Chadha did the trailblazing in India. India’s venture leaders such as Ashish Gupta and Sudhir Sethi are looking for the next, new thing in mesmering India. India as the world’s second-fastest-growing economy and Asia’s third-largest economy.
They met the chairman and managing director and runs the tech media company’s $150 million India fund. It is one of five funds in the IDG Ventures network establish by Pat McGovern. The visionary founder and chairman of International Data Group in Boston. If a strategy works in one locale then IDG, it works to bring the formula to startups in other places. The China has proven to be a gold mine for IDG, wherein it is made multimillion-dollar returns from early investment and successful IPOs of instant-messaging service Tecncent and search engine Baidu. During the trip to India, they met founders of startups with the advances for everything from detecting lung cancer at an earlier stage to recycling electronic waste in a cost-effective way, to bring solar power to villagers, to offering superfast mobile searches, to three-dimensional online games, to robotic-powered vacuum cleaners.
The India’s also become a mecca for a low-cost and sometimes jerry-rigged inventions in Hindi Jugaad. The Tata Motors tiny Nano car at an itty-bitty price tag of $2,500and the Indian government-backed tablet computer selling for $35 are some instances. Still, India’s entrepreneurial journey is at least five years behind China’s path. There is a no Jack Ma or Robin Li in sight or a big-time IPO like Youku. The India lacks the entrepreneurial buzz and fast pace of China tech clusters. The Indian entrepreneurship has been led. India is ever to break through, it needs to ditch an image as just for outsourcing or low-cost engineering and business services, this is a major challenge for the world leader of the booming $500 billion global outsourcing market.
India could eventually become a tech mini-power and grab some of the limelight from China. Contemporary corporate centers such as Whitefield on the outskirts of Bangalore and the Gurgaon satelite city in Delhi showcase that India is rising. India need a lot more deals with the stature of online travel site MakeMyTrip, a deal that barely gets noticed next to China’s higher-profile Internet home runs. India’s fast-growing digital communications markets are catalyst for the subcontinent country’s emerging tech economy. India is the world’s largest venture capital investment market, after the United States and China.
REFERENCE:
http://www.forbes.com/sites/rebeccafannin/2011/11/27/tech-gets-exciting-in-india-5-years-behind-china/
http://inagist.com/ForbesTech/140987723119988736/
http://www.topix.net/vc/2011/11/tech-gets-exciting-in-india-5-years-behind-china
