The environment for start-up companies has never looked so good. The ecosystem for start-up companies has evolved over the last few years. Start-up events (Nasscom, Tie, Proto & HeadStart), VC meets and Seminar (India Opportunity Seminar) are helping start-up companies to showcase their product capabilities and marketing skills. It’s not just the VC’s or government owned financial institutes that are funding the start-ups and helping to building the entrepreneurial environment but also major MNC’s are contributing their bit by setting up their VC arm in India to encourage the start-up companies and foster the innovation culture. Currently there are over 200 active VC’s both Indian and MNC venture firms investing in Indian start-ups.
Well if you have the right idea in place, an idea that can scale then everything else looks good. But are there many fundable ideas or are the entrepreneurs working in the right direction to make the best use of all the ecosystem and exposure that they are getting. We do see a rise in the number of startups in the last three years but not many innovative product ideas that are scalable to become power to reckon with. If you look at the trend in the last two years most of the startups that have come up are in the space of online video or search engines, these are trend followers rather than innovative products or ay out of the box thinking from startups in India except for a few interesting companies. Well not to say these are extremely good but atleast their products are much better and are capable of sustaining in the long run.
A few interesting products from Indian startups –
Mobitop – A product from Mobisy, It is a mobile phone application development platform with which application developers, device manufacturers and operators can easily develop and deploy new breed of applications with Web 2.0 features.
Hooeey – It is an interesting application that captures your browsing history and gives tools to store/analyze them.
Deskaway – Project management tool from Synage Software, It acts as a single window through which organizations can manage and track their work, thereby increasing team productivity and growth.
MedSphere (Instarad) – Company is a global teleradiology and PACS solution provider which develops teleradiology and PACS products and services for customers around the world.
Druvaa inSync – It is a CDP solution for Laptops which lets you automatically synchronize your personal data with an enterprise wide central server in office or while on move.
StoreGrid – It is a flexible data backup software designed for workstation and server backups, StoreGrid supports Exchange Server backups & SQL Server backups and has a 1-Click selection facility for 'common backups'.
Diffen – Wiki based site for listing differences or comparisons (subjective as well as objective) between similar things
Hover.in – It improves reader engagement by displaying contextual rich application in an intuitive window, it allows publisher to add extra channel of revenue through targeted display of contextual and affiliate advertisements. (Contextual Content Presentation and Mode)
MobiSolv – It is mobile solutions organization with focus on solving real life problems using the mobile technology. They are currently focused on providing solutions in the Mobile Advertising and Marketing pace.
Currently India has about 550 product start-up companies and out of which over 200 odd are technology start-ups. A lot of startups have come up in the last one or two years especially in the space of Localized/Specialized Search, Online shopping/Printing, Instant Messaging/Consumer Voip and Mobile VAS companies.
A large chunk of these technology start-ups are located in metro cities like Bangalore (28%) and Mumbai (17%).
Bangalore has Innovation Culture, Investors (At all phases), Customers, Proximity to markets, Academia, Research institutes and most important talent in place to encouraging entrepreneurship.