ENTREPRENEUR SPECIAL................... India has a billion problems. That's a billion opportunities

India has a billion problems. That's a billion opportunities





If there was ever a time to be a technology entrepreneur, it is now. India is in the midst of a technology boom that will transform and uplift the country . It already has more internet users than the US, and will soon have practically all of its population online. Dozens of startups that have not yet been founded will have valuations in the billions of dollars.

What is enabling this is the exponential ad vances in computing, networks and sensors-which means that devices are becoming f a s t e r, s m a l l e r a n d cheaper. A `5,000 smart phone has more computing power than the supercomputers of the 1970s.

The opportunities begin with the internet economy . My advice to Indian entrepreneurs is to learn by copying the best apps and business models from Silicon Valley. There is nothing wrong with copying -this is what Apple does and how Silicon Valley works. Entrepreneurs learn from one another and copy and experiment until they have something that meets market needs. When this happens, venture capitalists swoop in and offer ridiculous valuations.Until then, entrepreneurs are always starved for capital and have to beg and borrow from their for capital and have to beg an relatives and friends.

There are opportunities in every town and village. Every business needs an internet presence -artisans and craftsmen need access to global markets; fruit-sellers, sweet shops and restaurants need to be able to take orders from customers in their neighbourhood; farmers need better ways to sell and deliver produce; labourers, technicians, maids and painters need to be able to offer their services through sharing-economy apps.

Aadhaar has provided an identity to millions who had none, and this has led to the opportunity to provide them virtual banking services.An entire digital economy needs to be built, and public sector services also have to use technology . Every public service needs to be automated and monitored -from railway and bus operations, and water and power delivery to permit and tender issuance, and teacher attendance and effectiveness. Big data and apps can do all this and rein in corruption and inefficiency .

Then, there are even bigger opportunities to use inexpensive, internet-connected sensors to monitor traffic patterns, air quality , noise, radiation levels and water quality. And to manage pollution and waste, parking, traffic congestion, security and almost every other aspect of urban and rural functioning.

India has a billion problems. This is good because it means there are a billion opportunities for entrepreneurs to step in and solve.

(The writer is an academic and technolo gy entrepreneur based in San Francisco)

Vivek Wadhwa

TOI10JAN16