BackAround 68% of Indian mobile entrepreneurs target overseas markets: survey
The remaining are optimistic about the India opportunity, according to a survey by Helion Advisors
Premium
Bangalore: As many as 68% of Indian entrepreneurs in the mobile space are looking to target markets outside India while the remaining are optimistic about the India opportunity, according to a recent survey conducted by venture capital fund Helion Advisors.
The survey that covered 100 entrepreneurs in the mobile category was conducted over two weeks—between 15 April and 1 May. Questions ranged from product development and global ambitions to hurdles that these start-ups face in the market.
The report points out that “mobile will be the single most important point from where information services are being consumed and data is being generated—a trend that is fuelling ambitions of Indian mobile start-ups..."
Among such entrepreneurs, about 70% said they plan to raise venture funding immediately to meet short- and long-term goals and as many as 78% said the next leg of growth will require up to $1 million in capital for the next six months.
“It is very encouraging to see a thriving set of entrepreneurs in the mobility space. At Helion, we are working with several high promise mobility start-ups, many of them focused on building consumer apps," Rahul Chandra, managing director at Helion Advisors, said in a statement. Chandra says the Indian start-ups in this space can reach scale rapidly, touching revenues of $100 million in the next two to three years.
The $605 million venture capital fund has already made two such investments in the mobility space in the last six months—Ezetap and RapidValue.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
