Inside the boardroom of NASSCOM headquarters, takes place a serious brainstorming.
Participants - NASSCOM Products Team, NASSCOM Industry Research Team, and Zinnov (our process partner). A total of ~500 companies being screened and scrutinized on more than 30 business and technology parameters. Since I was already working on the Start-up Report – 2016 Edition - it became intriguing for me to draw synergies between our report and the EMERGE 50 Analysis. Some of the key findings are given below:
Tier 1 cities harbor maximum software product companies – tier 2,3 steadily making their visibility
Although Delhi-NCR, Mumbai, Bangalore, and Hyderabad occupied more that 70% of the total application pool, companies from tier 2 cities were also becoming noticeable. Jaipur, Indore, Kochi, Coimbatore, Visag, Trivandrum, Amritsar, and Chandigarh – together accounting for 6% of the application pool. With >13 states having already established start-up policy frameworks, this number is bound to rise in the next couple of years.
B2B businesses are becoming prominent in India
65% of the applicants offered B2B solutions. In a country with 1.3 billion customers, with huge scope and opportunities for B2C companies, B2B software product firms are also making their presence felt – most of them catering to both Indian and global clients. B2B product start-ups (as per our start-up report) occupied 1/4th of the total start-up funding and their funding went up by 18-22% YoY.
Big data/analytics, cloud, and enterprise solutions are the most popular, IoT catching up fast
Of the top 50 companies recognized and awarded at the NPC, ~50% of the companies offered analytics solutions. 20% of them offered IoT solutions – in the HealthTech, CleanTech, EnergyTech, and Robotics. Top technologies as per our start-up report would be Big Data/Analytics, Cloud, IoT, ML/AI (~750 start-ups in India).
Product companies are exploring global markets
>80% of the total applicants had some form of global focus, highlighting that global scaling is on the top of their mind, prompting them to create world-class software products.
Finally, I will leave you with the list of the top 10 companies recognized by EMERGE 50 Awards.
|AVR EdGE Networks Pvt. Ltd.
||HIREalchemy is an end-to-end AI driven solution for workforce transformation
|Cardiac Design Labs
||MIRCaM is a single front line device for advanced cardiac diagnosis with intelligence which provides real time analysis and generates instant alarms on detection of problems informing a doctor ahead of time, thereby enhancing patient care and safety.
|Ducere Technologies Pvt. Ltd.
||Lechal is the one of the world’s first interactive haptic footwear – that helps in navigation and monitors fitness
||A toolkit for software developers which allows them to fix crashes and dynamically communicate with users
||Builds technology inspection systems (mobile robots) for small scale manufacturing industries
|Indix Internet India Private Limited
||Indix Product API provides restful, programmatic access to offers and catalog information, and easily integrates with eCommerce platforms, business systems, and product information management systems.
||EnergyLogicIQ makes energy data simple to acquire, understand and act upon. Using machine learning technology that turns facilities into conscious facilities that learn from and respond to every energy wastage.
|Oslabs Technology (India) Pvt. Ltd.
||Indus OS is the world’s first regional operating system made for smartphones in India & other emerging markets
|Razorpay Software Private Limited
||Offers developer-friendly APIs and hassle-free integration for fast, affordable, and secure way for merchants, schools, eCommerce, and other companies to accept payments online
||A SaaS platform that helps technology buyers and sellers effectively manage costs and risks associated with complex service agreements
As you can see, Indian software product companies and tech start-ups are beginning to offer sophisticated technologies and platforms, foraying both locally and globally. Do share your thoughts today on how can these companies scale fast and sustainably.