May 3, 2016 6:50 pm | Updated 1 year ago.
Need: Most technology startups have plans to launch their products and services in a number of countries in addition to their home country. Most US tech startups have reasonable confidence for entry into the UK and Europe market. However, for entry into China and India, the two large markets in Asia, they would surely prefer some local help, especially in getting customer connections and assistance during the sales process.
Solution: While there are a number of organizations like The Indus Entrepreneurs (TiE), US Market Access Center (US.MAC) etc., that facilitate incubation of Indian startups in the US including mentoring and provision of other facilities, there is a need for organizations that can facilitate the entry of US tech startups to the market in India. In addition to giving customer access in India, if these organizations can also facilitate development of joint solutions between the US Tech startups and some Indian Tech startups that may have complementary solutions, then the joint solution can be of benefit not only to both the US and Indian startups but also to the customers of these solutions. A large technology incubation center in India may, therefore, be able to play a significant role in this area as they not only have access to hundreds of customers in India that use the solutions of the tech startups that have been incubated in this center but can also identify synergistic areas where the US tech startups and the Indian tech startups can work together for their mutual benefits and also the benefit of the customer. As a next step, the joint solutions, once proven in the Indian market can then be taken to the US market, where the US tech startup will now play the lead role.
Enablers: While a large technology incubation center can play a significant supporting role in this initiative, the entire process needs to be driven by a consulting organization that has staff who are highly experienced in this area. The enablers that need to be in place for such a critical program to succeed are:
- Access to a large number of enterprise customers at the CXO level
- State-of-the-art demo center where the enterprise customers can experience the power of the solution.
- Availability of local staff who can provide the first level of demo and sales support
- A well defined Advisory Council and Executive Committee that can ensure that the execution of the program meets the expectations of all its stakeholders.
- An Investor outreach program, so that the solutions can be demonstrated not only to the potential customers but also to potential investors.
KSUM, India’s first and most successful non-academic business incubator and D2E Consulting have partnered to put in place a US-India market Access Corridor to achieve the above objective and have put the necessary enablers in place.