Reverse Pitch | 'India has huge potential to incubate enormous big data and AI startups'
1 min read . Updated: 03 Dec 2019, 11:33 PM IST
PremiumIndia has become one of the largest producers of big data in the world, behind only the US and China
I believe that India has huge potential to incubate enormous big data and artificial intelligence (AI) startups because of four drivers.
The first is the large volume of data that is generated by 400 million smartphone users. And, because of the government’s recent efforts, India has become one of the largest producers of big data in the world, behind only the US and China.The second is the relative absence of entrenched, outdated systems. In other words, when it comes to new businesses based on big data and AI, India is largely a blank slate. Thus, there are very few barriers to adoption of new technology and the eagerness of corporates in India to solve daily inconveniences and problems take precedence. Third, in India, labour costs in big data and AI are a fraction of those in developed countries. This means that the collection, processing, analysis and usage of data can be accomplished at a significantly reduced cost. Finally, there is more openness in the society towards usage of data, which favours innovation.
Among others, I believe that fintech, agri-tech, and health-tech are promising areas for big data and AI. The social footprint generated by the smartphone revolution has been the key driver for the emergence of alternative credit scores which, in turn, are ensuring access to timely and adequate credit for millions. The lower labour costs across the board, from farmers to data scientists, coupled with cost-effective technology, are helping tackle the critical problem in the agri-supply chain. India is unique as individuals here are determining their personal healthcare choices and are free to adopt new data-driven healthcare technology without being impeded by intermediary decision-makers. This is enabling better outcomes at a quicker pace. At Dream Incubator, we are excited about solving problems across the world by leveraging our Japan network. Dream Incubator is a Japanese venture capital firm that has invested in 170 startups across 8 countries and supported 28 initial public offerings from its portfolios.
Reverse Pitch is like a normal investors pitch, but with the roles reversed. That means the startup doesn’t present its business to investors but investors and companies pitch their business concept, challenges and the like to startups.
