Were you aware that the Indian startup ecosystem has reached approximately 2 million high-tech employees in about 14,000-19,000 startups?
With these staggering numbers, India has earned its reputation as the global tech Mecca (according to a U.S.-based research firm’s Global Startup Ecosystem Ranking).
The Indian startup boom is hard to ignore and caught the eye of our very own Prime Minister.
Narendra Modi might have his share of critics back home but he sure is a political celebrity among NRIs. The first Prime Minister of India to give fresh impetus to the Indian startup ecosystem, I won’t deny, I was curious to see how he would do.
At the Facebook headquarters, hearing ‘chak de India’ playing in the background as Modi and Facebook CEO Zuckerberg took their respective seats was definitely a patriotic touch that worked wonders with the present crowd. While most political officials rarely ever gather an audience in 4-digits in their home countries alone, Modi managed to attract a staggering 18,000 people at this unprecedented town hall in sunny California. While sharing a story about his initial days of struggle Mark narrated the story of how his mentor—Steve Jobs suggested he embark on a journey to visit a temple in India, while Modi revealed his insights on the marvels of technology—in hindi—which I found to be an especially interesting choice to make.
Fast forward to his speech at San Jose’s SAP arena in Silicon Valley was an unflinching attempt by the small-town Gujarati amidst tech luminaries like Shantanu Narayan of Adobe, Satya Nadella of Microsoft, John Chambers of Cisco and Sundar Pichai of Google.
Nadela revealed an incident from his recent trip to a classroom in a rural setting of Nanyuki, Kenya where a group of students were engaged in a Skype conversation with another classroom located in a rural part of Andhra Pradesh, India. Satya Nadela elaborated on his vision to build data and cloud infrastructure – developing smart cities in India. This being apt to Modi’s quote on the Internet of Things “it’s been a long journey in a short time”. Think about how many doors this sort of technology opens in the healthcare sector alone. An experienced surgeon in a metro city can now instruct, guide and train doctors in Tier II and Tier III cities in real-time. In others words, it is now possible for a doctor sitting in one corner of the world to treat patients thousands of miles away through digital healthcare.
With Nadela committing to support the Indian government to provide broadband to 5 lakh villages across India, Qualcomm’s Executive Chairman Paul E Jacobs took this opportunity to announce $150 million fund dedicated to the Indian startup ecosystem. This chip-making giant is already involved in several projects in India – one such project is with the National Health Mission, to help frontline health workers assess sick newborn babies, with the ultimate goal to decrease high mortality rates. This project is one of several in the mission to change India’s current status as the top country with the highest under-5 mortality rate.
Acknowledging the vast potential of the Indian startup ecosystem, Sundar Pichai, Google’s CEO accredited the progress of startups like FlipKart, Snapdeal, Zomato and Quikr – a few big names from over 3000 upcoming startups in India. He also took this opportunity to announce Google’s plans to enable Wi-Fi Internet to 500 railway stations, which will inevitably hugely contribute to Internet penetration in India.
Unfettered, Modi stood high and mighty with the tech giants of Silicon Valley with the aim to start Indian entrepreneurship and connect the country’s ecosystem with Silicon Valley. This visit is expected to digitally empower Indians, promote tech investment massively, ultimately leading to more investments and more jobs.
While it might be too soon to say that India may replace China as Silicon Valley’s frontier, the startup ecosystem is undoubtedly set to grow, generating employment for more than 250,000 people by 2020. President of the US-based startup accelerator YCombinator, Sam Altman showed his confidence in the Indian startup ecosystem by stating that he foresees India coming up with multiple $10 Billion startups in the next five years. With so much of time and most importantly – increasing dollar inflow, Modi’s stint may just have taken us one step closer to becoming a superpower.