Very few startups begin operations the way Bangalore-based Serial Innovations (SI) did two years ago. Arvind Lakshmi Kumar and two of his
technocrat colleagues working for US major Sarnoff’s India R&D centre not only quit their jobs, but bought over the entire unit from the American parent to start their own company (SI).
Initially, one would have thought they would focus on tapping the Indian market they were already servicing. But soon, they started crossing over to other countries in pursuit of new markets. “India is the prime focus for us, but it isn’t the only market. All the emerging economies of the world are keen to acquire the best solutions,” Kumar says.
At present, American and Israeli manufacturers virtually dictate the high-end technology market, leaving a lot of nations like India grappling with high capital costs for technologies and heeding to the manufacturers’ demands of high prices for every service like training on how to use the equipment, customising and servicing products.
This is what helps the case of Serial Innovations and some others who are beginning to spring up on the horizon. Tapping the lucrative defence sector, once infamous for bureaucracy’s excessive interference, redtapism and corruption, is indeed becoming a reality in the Indian startup’s mind. What is making it more relevant is the growing importance on having indigenous systems and the encouragement to private sector participation in critical areas off-late. Sector watchers also admit that events like Pokharan II and the sanctions on India thereof, coupled with the decreasing Indian reliance on its age old supplier—the Soviets/Russians is also proving to be a blessing in disguise.
Source : http://economictimes.indiatimes.com/india-emerging/Startups-are-joining-battle-in-defence-business/articleshow/5536559.cms
technocrat colleagues working for US major Sarnoff’s India R&D centre not only quit their jobs, but bought over the entire unit from the American parent to start their own company (SI).
Initially, one would have thought they would focus on tapping the Indian market they were already servicing. But soon, they started crossing over to other countries in pursuit of new markets. “India is the prime focus for us, but it isn’t the only market. All the emerging economies of the world are keen to acquire the best solutions,” Kumar says.
At present, American and Israeli manufacturers virtually dictate the high-end technology market, leaving a lot of nations like India grappling with high capital costs for technologies and heeding to the manufacturers’ demands of high prices for every service like training on how to use the equipment, customising and servicing products.
This is what helps the case of Serial Innovations and some others who are beginning to spring up on the horizon. Tapping the lucrative defence sector, once infamous for bureaucracy’s excessive interference, redtapism and corruption, is indeed becoming a reality in the Indian startup’s mind. What is making it more relevant is the growing importance on having indigenous systems and the encouragement to private sector participation in critical areas off-late. Sector watchers also admit that events like Pokharan II and the sanctions on India thereof, coupled with the decreasing Indian reliance on its age old supplier—the Soviets/Russians is also proving to be a blessing in disguise.
Source : http://economictimes.indiatimes.com/india-emerging/Startups-are-joining-battle-in-defence-business/articleshow/5536559.cms
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