CIO & LEADER-Issue-01-April 2018 (1)
Cover Story 12 CIO&LEADER | April 2018
Cover Story How to create a thriving partnership and derive business value, resulting in a win-win for both. By Shubhra Rishi This month, Bhavish Aggarwal made it to Time's 100 list: a list of 100 most influential people in the world. There are very few people in IT circles who don't know Aggarwal. He is the co-founder and CEO of Ola Cabs, who gave India its first app-based taxi service. The startup idea may not have been unique because it was almost a year after Uber (formerly UberCab) had already launched (March 2009) in California, United States but it still gave urban Indians the convenience and comfort of ordering a cab service on a mobile app. Since then, the Indian tech industry has never been the same. The last decade may have seen the rebirth of the start-up ecosystem in the country with a more sustainable business model in the form of venture capital. According to a Nasscom Start-up Report published last year, over 1,000 new starts-ups joined the start-up ecosystem in 2017, taking the total number of technology start-ups to nearly 5,200. The B2C focused start-ups like Ola Cabs, have always found favor in the form of funding and have continued to garner 1.5x more average funding value vis-a-vis B2B start-ups, which increased from 27% in 2016 to 31% in 2017, according to the report. However, the year 2017 is illustrative of a trend that has been in the making for the last few years. A trend that has observed an exponential growth of start-ups with B2B focus - with more than 47% of start-ups out of the 1,000 selling technology to enterprises. According to the report, this share of B2B start-ups was higher than B2B share in the overall start-up base of 40 percent. Clearly, the enterprise product emerges as the top vertical for B2B start-ups, followed by fintech, health tech and e-commerce. Not every start-up idea must result in a big business opportunity; some can be just strategic initiatives April 2018 | CIO&LEADER 13
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12 <strong>CIO</strong>&<strong>LEADER</strong> | <strong>April</strong> 2<strong>01</strong>8
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