India is fast emerging as a startup nation. In just over a decade, it has become one of the top 20 ecosystems in the world, sports unicorns and has startups developing solutions that are not only used in the local markets, but also used worldwide. It is a global hub attracting startups, corporates, investors and government bodies to create innovation for the world.
To support the startup and innovation ecosystem in India, Techstars is launching the Techstars Bangalore Accelerator. Techstars Bangalore will support innovative startups across many sectors, stages and business models (B2B/B2C).
I am excited and looking forward to working with innovative startups and founders who are building next generation solutions for the local and global markets.
As the worldwide network that helps entrepreneurs succeed, we believe we can help realize the potential in India by connecting with our global network of mentors, founders and investors.
Applications are now open for Techstars Bangalore. Apply today.
India is not just a country, but an innovation gateway for the next 5 billion!
India is not just one country but a mini continent. And technology is helping the country leapfrog and positively impact the socio-economic landscape. Startups are the center of this transformation. To understand this a little more, consider the fundamental shifts happening across the country.
India is a country of 1.3 billion people, with around 900 mil of them experiencing the “mobile only” world for the first time. This provides a rich and diverse canvas for innovation as India is not just one country but a mini continent. There are 22 official languages, and 400-500 regional ethnic sects. In this environment, “scale” has a very different meaning. The template for innovation here is unique and different, and India serves as an innovation gateway for the next 5 billion people who are leapfrogging into the technologically connected world.
India has about 150-200 million (3/4th of the US) people who are globally mobile and live in the cities. They have the same preferences and habits as any in the western world. Alongside this, there are 300-400 million (a little over the size of US) who live in Tier-2 cities. They understand English but prefer their local languages. They are aspirational and fast embracing mobile and internet. They are the mobile only users who are driving online consumption and next generation models. Next to them is another 700-900 mil (twice the size of the US) people who live in the rural villages and have started getting access to technology in the past three years. This segment of the population lives in a highly constrained environment with lack of access to healthcare, education, financial systems and have limited social and economic mobility. Technology and innovation have the potential to dramatically impact this segment and shape a better future.
India has a unique combination of domestic corporates, over 1000+ Fortune 2000 multinational companies, global system integrators, and government bodies looking at partnering with startups to accelerate innovation.