Why has India failed to produce tech giants like Apple, Google, Facebook, Twitter, etc.?
Apple, Google, fb, Twitter, Instagram, et al. Come from a single neighborhood of less than a hundred mile diameter. So, the question might also could be asked on why the big apple or Boston or l. A. Could not produce tech corporations of this dimension. It isn’t just India that lags in the back of the Silicon Valley.
Accepting new recommendations. Silicon Valley is the world’s fine in the case of new suggestions. Many traders have taken as a personal venture in altering the sector. Elon Musk, Peter Thiel or Sergey Brin are in contrast to the common billionaires of the past. They’re rather watching to mission the popularity quo. You possibly can be rough pressed to seek out such a culture in different places. Despite the fact that Boston has a lot of top universities & infrastructure, its atmosphere is not that accepting in relation to such iconoclastic organizations. India is far more conservative than Boston. There’s a detailed suspicion of the brand new, unpredictable and dicy matters.
Robust Ecosystem. Last week I used to be on the YCombinator workplace in Mountainview. It looks like a warehouse from external, but inside there were exceptional minds mentored with the aid of incredible minds. The smartness of others have a ruboff result on you. There are effective entrepreneurs who exit rapidly and grow to be either serial entrepreneurs or investors. In other areas, you in finding the entrepreneurs excessively hooked up to their organisations and do not take the exits when excellent ones are offered. This limits the chain results triggered by serial entrepreneurs. India is just now starting to construct such an ecosystem. However, it takes a very long time.
Significant home Market. Practically the entire primary startups from the valley had a giant success in the USA markets earlier than heading overseas. Facebook might name in advertisers with billions in advert spending. India is a much smaller marketplace for tech organizations (although quickly developing). Our consumption of high-end gadgets and web promoting is as an alternative low. I feel we will be able to repair this part of the equation within the subsequent 10 years.
Centred workforce. Despite the fact that US is sizeable, majority of the tech startups are concentrated around the valley. Shrewd Iowans, Floridans and Montanites get to the valley to build their recommendations. Nonetheless, Indian startup scene is scattered. We’ve got Bangalore, Mumbai, Delhi, Chennai, Pune all competing for a small pie.
Sensible minds feeding on wise minds. In India the smartest minds don’t constantly take in entrepreneurship. We’ve an irrational enchantment closer to the brilliant corporate workplaces. Even among entrpreneurial families, I see the new iteration most often interested in big box IT jobs more than their shops/small business run through the loved ones. The equal occurs in Boston and ny too to some extent. Within the valley, smart minds get to startups. It’s 10X more difficult to get into Dropbox than to get into Google.
M&A. For a first-class startup ecosystem to flourish, companies should put themselves available in the market. They should be willing to purchase more moderen enterprise ( to grow them, collect ability or to create monopolies) and they should be inclined to promote themselves at a correct cost (if you’re over-protecting of your enterprise you emerge as Yahoo!). In India, there may be hardly any Merger endeavor. Higher companies either copy the smaller opponents or ignore the market, however seldom purchase. Such mergers create go-pollinations and also exits for traders and founders.
I agree with some elements of Joydeep’s answer, but disagree on the education process and for not considering of Valley’s exact tradition. Fwiw, Indian informed personnel type a sizable chunk of the valley and that will invalidate the declaration that Indian startup ecosystem is susceptible in view that our education system is opposed. We want simply a thousand strong iconoclasts to have a shiny startup scene