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How to Build a Global TechBusiness from India?Krishna Mehra@kpowerinfinity21-May-2013
The India Growth Story is QuiteFascinatingWhich is probably why all of you are here…
A Little About Me…• Entrepreneur, co-founder @capillarytech– 5 Year old startup in the Consumer CRM Space– 10,000 Stores, 70M Consumers, 10 Global Offices– $15.5M from Sequoia & Norwest• Earlier Researcher at MSFT, B.Tech from IITKharagpur, Worked at Minekey Inc.• Family into the Book Publishing
Choosing the Space• Mobile & Retail looked like a great opportunity– Easy seed financing from alma-mater– Wanted to do something similar to Groupon… beforeGroupon• Early Challenges– The “Indian Baniya Businessman”– Cost of Data– The Mobile Savvy Indian Customer is probably not so savvy• The Pivot into CRM
Getting Initial Traction“You” are the “Product”
Traction begets Money• Angel Funding Eco-System in India isharder– Real revenuetraction expected• Focus on Business,Funding willhappen
The Team is the Clincher• Hiring ishard!– Money– Equity– Marriage– Distance– Work– PassionPicture taken from http://therodinhoods.com/profiles/blogs/flat-marriage-and-family-3-reasons-why-young-indians-don-t-turn
Selling Software in India• Indians Buy a Phone Number– @mukund,http://goo.gl/RE9B1• Nobody wants to be a “SalesGuy”– Sales as a function is not aswell established• Fragmented Channel forSelling Software• The frustrations of GettingPaid for your work
India Runs on SaaS• Op-ex based Pricing & Servicing model better suited to Indian Customers• Fuse Products & Services together• Prevent Piracy
The Product vs Services Debate• Initially, it doesn’t matter– Getting traction is most critical• It’s always going to be both– They can’t exist without each other• It’s where in the continuum you fall – Stronglydefines the growth curve
The Decision to Look Abroad• Is your product sellable in global markets?• Market Size Challenges in Scaling up– Lack of a large local market– The Currency-Conversion Factor• Investor Pressure? Many VCs (at least in India) todayprefer a Global Story• Regulatory Challenges in building a Global Businessfrom India
The Advantages of Jugaad• Frugal Innovation: Indian Customers are moreforgiving to product defects• Talent Availability, and ability to iterate quickly• Capital is Easier than many other parts of theworld