There are so many great tech entrepreneurs of Indian origin in the valley who have been successful over the last 2 decades. A last count indicated over 40% of all startups in Silicon valley were either started by or had an Indian cofounder.
This has led to several of them (entrepreneurs from the valley) and a few “industry observers” commenting and comparing the startup ecosystem in India to that in the valley. Most are not encouraging. From the outside looking in it is relatively easy to say “There are too many clueless people running incubators” – actual quote from a self-proclaimed Silicon Valley expert, or “Focus on local opportunities, not on global ones” – actual quote from a Tech Crunch article.
In both cases, many entrepreneurs in some closed Facebook groups that I am a part of, were all up in arms about these broad generalizations. The articles themselves were focused on many aspects of entrepreneurship as well in India, and the quote alone, taken out of context would be construed as a “passing mention”. Nonetheless many entrepreneurs took umbrage and the conversations denigrated into an abyss.
Back to my question about Indian entrepreneurs. Are we just thin skinned or misunderstood?
First, our startup ecosystem is fairly nascent. Comparing it to the valley is not doing either location any good. Both investors and entrepreneurs complain about each other constantly in both locations, though. Many investors claim entrepreneurs lack the depth, knowledge of the markets and understanding of what it takes to build a great business. Many entrepreneurs claim investors are risk-averse, predatory and bean counters without the expertise to build a business.
They are both are right, but both are wrong as well.
Market dynamics and conditions in India force both of them to play hands they are dealt with and I think so far we have done well. Comparing a teenager (Indian startup ecosystem) to a mature adult (Silicon Valley) does not make any sense though.
Second, I do believe that we can be more appreciative of each others positions and show a lot more empathy for our investors and founders. I am not suggesting a group therapy session, but knowledge and understanding of the constrained markets India has and the small exits that we generate does not help investors is important. Neither does expectation of Silicon valley type exits or “traction” help entrepreneurs.
Can we all get a little more thick skinned as well? – possibly. For most parts if you read a “self-professed expert”, such as myself or others, claiming to understand the nuances of the ecosystem, which you believe are incorrect, be direct and point it out, with a cogent argument explaining your point of view, instead of vitriolic comment spewing or worse – name calling without context.