Since the Y2K “crisis”, India has established itself as one of the world’s foremost technology hubs. With the emergence of Infosys, Wipro, TCS and Tech Mahindra amongst several others, India has risen up value chain of technology and software. However, since the emergence of AI, machine learning and internet of things, India has lagged behind the global technology industry. But opportunity could be around the corner. India is therefore well positioned to capitalize on the blockchain era. To set the scene – over the last 6-7 years, India’s technology industry has become mainly a service provider to large multinational corporations, rather than an innovator. This is in spite of over $5bn of venture capital investment in the country. The issue is that many of these investments are made into ‘copycat’ ventures, or large scale service providers. I am an angel investor, and many VCs that I speak with bemoan the lack of innovation; and the problem of scalability, in a country which has several potholes in the execution of new ideas. The blockchain era could change all that. However, I have listed the four main challenges below: Talent pool and acquihires: India does not have a durable eco-system of upskilled… Read full this story
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