On Wed I was at the NASSCOM Emerge 50 jury panel. Out of 360+ technology companies in Startup, Innovation and Growth areas, the team had selected 50 who they felt were awesome. Our job as the jury panel was to select 10 from the 50.
There’s one part of about the Indian entrepreneur that struck me as their unique value proposition.
You survive after starting your company, beyond the first year, you deserve an achievement award.
The mortality rate of technology startups in India (based on actual data from our Microsoft Accelerator database of 3918 companies, all startups including services and products) is a whopping 49% within the first year.
That number blows my mind.
Nearly half of the companies fold within 1 year.
Nearly 20-30% are walking dead.
Closing companies in India is an absolute pain as we all know.
So when I heard company after company saying their revenues after 2-4 years of existence were between $100K and $250K per year, one part of me was sad.
Growth was literally non-existent.
The other side of me was thrilled. They survived to tell the tale.
Survival among Indian technology companies is a Unique value proposition.