Like a lot of many technologies, India has been slow in adapting to the latest buzz word – Internet of Things. While we see very good traction in this space in the US and Europe and China, India is jus waking up to the possibilities in IoT. Although, we are late in the game, I can see a good momentum building with IoT labs being setup, meet ups being organized and each day a new start up coming up.
There are some factors which makes it a “perfect storm” and I see a huge acceleration in IoT adoption for India specific applications as well as new innovative products coming up for international market.
- Change of guard – With the new right wing government in place that in its first fortnight announced that it wants to create 100 “smart cities” the timing could not have been better. We will see a similar technology push being driven by the government in next few years. Which will not only provide impetus to the fledging IoT industry in India, it will also help create an ecosystem that will promote innovative solutions to solve India specific problems with IoT at its heart
- Technology Powerhouse – India has well established itself as one of the best in the world when it comes to technology prowess with a number of India origin technocrats now at the helm of large technology companies. The technology talent and pipeline available in India is second to none in the world and its now waking to the IoT potential.
- Entrepreneurial mindset – the next gen in India has seen a different world have full confidence in themselves. We see that already in “cricket” where the young have complete faith in themselves and back themselves up to the hilt. They are aiming to be the best in the world and have the potential and talent to do so.
- Startup Ecosystem – It has been coming over last couple of years. There is a good appetite and pretty good incubation and support system now in place [especially in Bangalore, Hyderabad, Chennai and Delhi] that is ready to back this generation teeming with idea
- Growing appetite for technology in life – With one of the largest urban middle class and more coming into it each day having a cash surplus the market for new innovation that makes life easier and safer is ripe to be tapped into
The well established entrepreneurship ecosystem coupled with a supportive government, a confident next gen and a growing market need is what helps create this “perfect storm” that will have a trans-formative impact and will create unprecedented market opportunities. The only caveat being that lift and shift solutions from the western market will not work in India. Those who are willing to invest in and build India specific Internet of Things solutions for India specific needs and environment are the ones who will gain the most.
Looking at this, Axelta has recently launched a training program targeted at equipping existing and budding entrepreneurs with the insights and understanding of the domain and technology to create their own innovative solutions to meet the market need. This 2 full day workshop [one of the first ones in India] will help participants get hands on understanding of the technologies and their deployment to create their own solutions. Participants will also get free access and support for leveraging Axelta’s IoT platform – Osmosis and Osmosis gateway to rapidly go to market with their solutions.
We are willing to work with entrepreneurs to help them build their solutions and customize the platform for their specific needs.