Why SoftBank Is Betting on India – How to Choose the Best Startup in India

Ever wonder how some companies can grow so rapidly while others struggle to stay afloat?

Well, recent events in the technology sector have proven once again that it’s all about the funding. Companies that have been able to secure significant investment have a distinct advantage over those who haven’t. In fact, the gap between the haves and the have-nots is growing so rapidly that it’s essentially a death spiral.

And although it’s never easy to watch from the outside as your home nation struggles to establish itself as a significant player on the global stage, you have to admit that India has a lot to offer. Not only is it becoming a significant producer of software, cloud computing, and artificial intelligence — all of which are driving the demand for technology products in the country — it’s also one of the most welcoming countries you can land in. If you’re an entrepreneur with big dreams, India could be the place to make them come true.

If you’re considering an investment in a startup in India, here are some top considerations to make. 

An Outstanding Brand

If there’s one place where you can find success as a software entrepreneur, it’s India. In fact, the country’s technology landscape is rapidly evolving, with lots of exciting opportunities for entrepreneurs who have the right skillset.

That’s not to say that all Indian startups are created equal, however. Just like any other place, you’ll find exceptional companies that are well-established and respected in the country, as well as smaller, newer startups that are looking to make a name for themselves.

So, if you’re looking to invest in a product or service related to technology, begin by searching for well-established brands that have a good reputation in the industry. You’ll be investing in a company that is likely to be around for the long haul, and that has a clear path to growth.

Access To Capital

In any country, being able to secure investment is considered a major achievement. But in countries where venture capital is relatively accessible, like India, it’s not as difficult as you might think. There are plenty of well-established investors who are looking to make a return on their investment, so it’s not all about making a profit as a venture capitalist. 

And although the cost of investing in a startup in India can seem high, the returns can be significant. Companies that successfully secure investment from well-known VCs often benefit from access to world-class advisors, as well as significant equity for their founders. If you’re looking to set up a business in India, exploring all the options available is essential.

A Vibrant Tech Community

If you can find a passionate and talented software developer in India who wants to make a living creating apps and web software, you can certainly set up a successful business. 

But if you’re looking for a country that is rich in resources and opportunities, consider moving your business to another country, at least for a stage, and exploring the wider world of entrepreneurship. There are many different places you can set up a business, so instead of limiting yourself to one country, dive into the global market and let the world know what you’re up to.

If you’re interested in exploring the opportunities in India or another country, establishing connections with people and companies in the tech community is essential. Being a member of a vibrant tech community will make a massive difference to the way your business interacts with customers, as well as how you are able to grow and prosper.

The Rising Demand For Software

It’s well-established that India is a country that loves to play with technology. And not just any technology — big data, cloud computing, and artificial intelligence, to name just a few. 

The truth is that even startups that are relatively new have already figured out how to harness the power of these technologies, and are reaping the benefits. Take, for instance, Fitbit. The wearable device company was launched in 2011 and has grown rapidly in popularity ever since. More and more people are choosing fitness trackers and other wearable technology products because of the growing evidence that shows how beneficial these products can be for your health. 

And although it’s a broad overview, it’s clear that software plays a significant role in almost every industry in India.

According to a Preston Gates, vice president of software and applications research at the GAP group, India’s software sector grew by 17% in 2016, compared to the previous year. And the demand for software continues to rise, with an estimated €16 billion ($20.7 billion) worth of software products being purchased worldwide in 2021.

So if you’re looking for a country that’s rapidly expanding its software sector, consider investing in a startup in India.

Which City Should You Invest In?

If you’re deciding between Bangalore and New Delhi for your startup’s location, it’s essential to examine the priorities of your business. Do you want to be close to customers? Do you want to be near excellent talent? Is a better location necessary if you want to expand your business internationally?

These are all crucial questions that you need to ask yourself before making a decision. Although it’s always good to be close to customers, you should also look at the location of other well-established businesses in your industry. Is another city a hub for your chosen field? If you can’t find the answers to these questions within your country, consider exploring other options.

The Availability Of Experts

If you have specific expertise that you want to bring to your business — whether that’s marketing, sales, product design, or development — it’s essential to find people who share your same interests. But beyond that, it’s important to find people who can teach you new things and bring new perspectives to your business.

In countries like India, there are plenty of well-established experts and specialists who can help you launch and grow your business. Whether you’re looking for legal advice, procurement assistance, or financial planning, you’ll find people who can help. Just make sure you work with someone who you trust and who shares your goals and vision for the business.

More Than Meets The Eye

Like any other place, India is a diverse country with lots of different cultures, ethnicities, and ways of life. And although this can be a source of great pride for the country, it also makes things more complicated. Even the smallest details — how you say hello, for example — can change the way someone else sees you and your business. So, if you want your company to be taken seriously, establishing good relationships with people from different walks of life and strengthening your language skills is essential.

If you’re curious about how others see you, consider taking a step back and looking at your website, social media pages, and other digital marketing materials. These are the tools other people will use to find out more about your company, so make sure that they portray you accurately and helpfully — something to strive for.

If, after reading this article, you’re wondering whether or not to investigate the potential of starting a business in India, then the answer is a resounding yes! There are lots of opportunities, and it’s a welcoming place to do business.