Let's not rant over filpkart or others as tech startups. They are Tech enabled. Let's share out some tech startups registered on Indian soil with over 100 million dollar revenue. And discuss, why are you not creating one (if you have a vision and figured problem-solution-market)?
Eg: China in its developing time had many. Phone companies, circuits companies, gadgets companies, LED TV companies, semiconductors, agritech machines, plane manufacturing companies.
Tik tok was a simple idea, literally most of you could have built the tech, couldn't you? Then, still why weren't we able to carry such big vision and execution. India received funds very well to replicate tiktok, yet they failed in execution and differentiation.
I struggle to accept a few thoughts;
We are less disciplined, less dedicated, and less visionary compared to the general population of China.
Maybe we are more western than the western itself. We adopted and copied developed nations present and skipped their past hardwork and dedication.
We have grown too practical and not ready to hear impractical ideas.
Share yourself similarly on related topics.
Deep tech or device products needs time and also a good amount of money. VC’s are not ready to bet on those in India yet. People are not capable enough for doing a proper R&D. You need PHd’s , researcher etc. No one’s betting on them yet.
Because majority of Electronics & Electrical engineers end in WITCH companies but no one is interested to support & work in Tier2 & Tier1 companies. So, who will develop hardware?
https://www.google.com/amp/s/www.business-standard.com/amp/india-news/india-must-invest-1-billion-a-year-on-training-teachers-narayana-murthy-123111500612_1.html. It is easier to criticize the likes of Mr. Narayana Murthy but the better thing would be to read / listen to what he (similar leaders) has to say with the full context
greyorange and addverb couldnt they be considered deep tech/ device startup?
Definitely...they are. But I hope you can see how limited and constrained they got. Both are constrained in the matter of growth. Flipkart and reliance own them. They could have grown massively.
Ya, but there was no one to fund that level of growth esp. considering the amount of funding firms like locus robotics got... that being said Falcon autotech seems to be doing good; their sortation machines are doing well in europe. That being said, it is difficult to get the right kind of pple to fund you and even more difficult to find the right engineering talent as it takes minimum of 6-12 months for a MVP and atleast 3 years before you get a stable product into the market.
I guess I can call myself Deep tech engineer (having built drones and fuel cells for 9 years) the biggest problem I see is Narayan murthy thought process at work and TCS fresher salary for 5-6 yoe & then we say “oh ham toh deep tech karte hi nahi hai” - bc paisa lagao aur chindipan mat karo product mein
We are too young a country to accept risky entrepreneurship. Starting manufacturing is very difficult here. More than money , there are other factors which are a big burden. Dealing with local politics, police etc. them come compliance issues we need to appreciate vals from 100 people just to start. And lastly the generation from born between 60 to 80 grew up in scarcity mode. So that was passed into the next generation. May be when the COVID kids grow up they might be bigger risk takers.
*COVID kid🤣🤣
Our established big business houses are also not interested in funding deep tech, look at adani, reliance, TCS, Infosys and Tata these are established companies with deep pockets yet they stick to simple tech products which are just tech enabled, fighting on already crowded sectors.
VC money is good but in long term but I believe some responsibility also comes on these big businesses to take bets in training and venturing into deep tech.
We don't take enough risk, due to scarcity mindset.
Because it is difficult and requires expertise in multiple engineering domains. Hardware, Firmware, Software, Mechanical Design, Prototyping etc. And as others pointed out VCs feel it’s too risky. Atomberg has 100 mill revenue and surely soon we will more examples 😊
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