The Indus Entrepreneurs (TiE), Mumbai’s seventh annual programme “SmashUp 7.0” was held on Saturday 22 July, 2017 in Mumbai. SmashUp is the flagship programme of TiE that brings together aspiring startups and angel investors to exchange ideas, peer learning from successful entrepreneurs and helps ideas mature into action plans and build successful companies. On the sidelines of this annual event, Anand Desai, Managing Partner of leading law firm DSK Legal and President, TIE Mumbai shared his thoughts on the evolving startups landscape in the country and TiE’s mentoring role in it. TiE, founded in 1992 by a group of successful entrepreneurs, is a non-profit global community.
FoodTech seems to have lost steam while FinTech, EduTech and HealthTech continue to be strong. What is the trend you are observing in upcoming startups in recent times?
Foodtech was never clearly defined. The focus has moved to food enabled tech, towards consumer products. Energy, clean/green ventures & Agritech are upcoming and we’ll see some breakthroughs soon. Space tech is another field that entrepreneurs can now look into. If you go by the numbers, the Indian Fintech market is forecasted to touch $2.4 billion by 2020. This could be one of the reasons that more than 400 unique investors invested in Fintech between 2015-2017. The Indian E-tailing market too is hot on the investors’ radar and could reach $28 billion by 2019-20. Lesser known sectors like logistics have witnessed $774 mn funding in 2015-17. The sector, which will contribute to nation building is Online Education. This sector is projected to witness approx 8x growth in the next five years.
Do you think the Startup India has lost steam?
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