Venture Capitalists and business experts criticize Indian startups to be copycats. This means they take successful idea from another market and adapt it to the Indian market. But there are an increasing number of startups that are tackling problems unique to India and applying technology to find solutions. The sectors these startups work include agriculture, water, healthcare, transportation, sanitation and localization of content. Despite the language and cultural complexities, an increasing number of founders are trying to cater to the varied demands.
The Indian market, which has ‘traditionally’ been more focused on outsourcing, offshoring and call centers, seems to have finally woken up to have their startup ecosystem focus on the local economy – something Pakistan has been doing since the a long while.
While it may seem that a startup solving India-specific problems might have a limited market, Arpit Agarwal, Principal at Blume Ventures, has no doubt about the potential. “Ideas that work in India are almost always applicable to other emerging countries. So, the market size becomes even larger,” he said.