Indian startups have begun venturing abroad to try their luck in a variety of markets across the world
The year 2022 has continued right off the bat from the record-breaking 2021. Seven months into 2022 and India has seen 19 startups entering the unicorn club. With this, the total count of Indian tech startups that have ever entered the unicorn club to date stands at 105. These 105 Indian startups have raised more than US$93.4 Bn in funding to date and are valued at around US$340 Bn combined.
India’s Startups Venturing Abroad
After restricting themselves to focusing on the demands of hundreds of millions of consumers within their domestic market, many of India’s startups have begun venturing abroad to try their luck in a variety of markets across the world. While only a few of these enterprises have attained unicorn status before venturing overseas, there are still others with valuations well below US$1 billion that are making their presence felt in places like Australia, China, Great Britain, the U.S., and Southeast Asia.
Indian start-ups planning to enter the US market face the major challenge of meeting the high cost, hiring the right talent, and thereafter managing overseas teams, according to a survey conducted by Silicon Valley-based Alaris Global.
Three in four early-stage Indian start-ups want to expand to the US, but many Indian start-ups have tried entering the US market but suffered heavily due to various reasons, especially hiring the wrong local person to lead sales and were forced to delay their plans, said a survey by one-of-its-kind tech-enabled global expansion marketplace.
In the past few years, several Indian SaaS companies have made a mark globally thanks to their cost-effective world-class products and fast turnaround time.
Indian mobility, food-tech, and hospitality startups have also been able to expand globally. According to a 2020 report by the Confederation of Indian Industries (CII), 155 Indian companies have created nearly 125,000 jobs in the US with investments of over US$22 billion.
Out of all the respondents, almost one-half are based in Delhi NCR. More than 76% of the respondents are in the services and SaaS industry.
Alaris Global helps Indian companies set up a marketing and sales team in the US and plan their go-to-market, all in a matter of days. “Indian startups have a strong interest and capability to take their products to a market like the US. As barriers to entry reduce and access to global resources become more democratized, I think the time is right for Indian companies to grab the opportunity and make a global impact,” said Joyce Zhang Gray, chief executive officer (CEO) and co-founder of Alaris Global.
Alaris Global helps Indian start-ups achieve their global growth not just by providing comprehensive solutions but also by acting as a strategic guide and partner. Alaris has identified thousands of high-potential Indian companies that could go to market in the US in the next few years.
Currently also serving start-ups from China, Singapore, Nigeria, Germany, Canada, Spain, the UK, and Israel, Alaris has made a special commitment to India by opening its first overseas office in India.
According to a 2020 report by the Confederation of Indian Industries, 155 Indian companies have created nearly 125,000 jobs in the US with investments of over US$22 billion.
Heading to the International Markets
Startups with far lower valuations are also heading to a variety of different markets abroad comparatively early in their growth curve. Even though they have yet to attain a size that’s anywhere close to their attention-grabbing peers, startups like restaurant chain Burger Singh, SaaS startup Synup, and programming platform HackerEarth are still reaping the rewards from their ventures into foreign lands.
HackerEarth has said that its revenues from international markets have more than tripled to constitute one-third of its total sales within the past 6 years. The Bengaluru-based company is intending to grow its business aggressively in the U.S. over the next 12 months.