Just in the 1980s, India was recognized for commodities like cotton, jute or spices and was regarded an exotic land far removed from global path of progress. In contrast, today India is a powerhouse of Software and Information Technology capabilities. The size and nature of change of India’s image and relevance in today’s economy is indeed enviable.
The interesting thing about this sea change is that it happened not too long ago, and it happened around us. It is possible that each one of us has known the organizations, people and events that we refer to in this blog. As one of the contributors to the startup ecosystem in India, Microsoft Accelerator, decided to take a bird’s eye of the developments, and the view is breathtaking. In four decades the progress in IT and entrepreneurship has radically changed the landscape offering new entrepreneurs unmatched opportunities.
Technology entrepreneurs in India are building world-class startups, attracting global investors in large numbers and creating their fair share of unicorns! It is a historic juncture for India tech startups as they are poised to take on larger problems and enter the global stage. Sharad Sharma, co-founder of iSPIRT, says that entrepreneurs in the Silicon Valley built products for the 1st Billion people on the planet, India is poised to serve the next 6 billion people!
Chronicling the history of an ecosystem is never easy. This 18-month long exercise which has taken form on an e-book, involved perusing hundreds of documents, research papers and newspaper articles and involved several man-hours of deliberations. We began by delineating major milestones in last several years of the journey and understanding its impact. As we analyzed, we came up with four distinct phases of growth and maturity that we have traversed so far:
- Software Services and Global Delivery Model
- The Dotcom era
- Rise of Product startups
- Growth of startup ecosystem
Indian Startup Ecosystem Timeline Infographic
While all the four episodes of the journey has a lot to contribute to the evolution, the last episode is very exciting – Growth of Startup ecosystem. Ravi Gururaj, Chairman of NASSCOM Product Council, shares the optimism. He says that India is among the four most vibrant startup ecosystem in the world. Other three being US, Europe and China. It has a unique opportunity to build products and solutions for the southern hemisphere of the world.
This infographic snapshot of this journey which is captured in detail in an ebook which was launched at our flagship event, Think Next 2016 on 23rd June in Bangalore, and is available on our website for download.
This ebook, titled ‘History of Indian Startup Ecosystem’ contains over 150 such events which shaped the thriving entrepreneurial world we live in today. Our sincere thanks to Sharad Sharma (Co-founder and Governing Council Member, iSPIRT Foundation), Ravi Gururaj (Chair – Product Council & Member – Executive Council, NASSCOM), and Bharat Goenka (Managing Director, Tally Solutions) for their inputs which helped us find many of these milestones.
We are living in exciting times for building startups in India! We hope you enjoy discovering the path we took to get here.