Here are three stories of entrepreneurs that went east to India, survived, and succeeded:
Valerie Wagoner started her company ZipDial, which was acquired last month by Twitter, based on her insight of the potential of missed calls in the bandwidth deprived Indian mobile market.
In 2013, Greg Moran and David Back left the U.S. to work in India, but ended up starting their own company ZoomCar, a self-driving (ie no chaffeur provided) car rental start-up. What started with just seven vehicles is now a business of 250 cars in the cities of Bangalore and Pune. They have plans to expand to 10 more cities this year with the recent funding they received from Sequoia. “I like the energy levels of the people here. Besides, starting business in India is becoming an easy process,” says Moran.
Eleven years ago, in 2004, Sean Blagsvedt came to India to head Program Management and Advanced Prototyping for Microsoft Research. He had no plans of settling down in India, but within months he quit his high-paying job, married an Indian woman, and set up a company to solve the problems of unskilled and blue-collar jobs in India. Blagsvedt has no regrets. He considers the move to become an entrepreneur in India one of his best decisions. “India is largely an under-served market, but has huge potential when it comes to adoption of technology. We are trying to solve some socioeconomic problems with the help of digital technology,” he says. His venture, Babajob, connects job seekers such as security guards, drivers, maids and cooks with potential employers.
With the start-up ecosystem maturing in India, the numbers of expat entrepreneurs are so significant that it has led to the formation of an Expat Entrepreneurs Circle, an exclusive organization of foreign entrepreneurs and non-resident Indians doing business in India.
February 12, 2015 No Comments
Fortune 500 company New Jersey headquartered Sealed Air Corporation says India is its fastest growing geography. “India for us I would call within Sealed Air, a mid-sized country, it’s in the top 15 countries but with the highest growth rate,” Jerome Peribere, president and CEO told the television network NDTV.
Sealed Air is a packaging company known for its brands – Cryovac food packaging, Bubble Wrap cushioning, and Diversey cleaning and hygiene. It has two units in India – in Mumbai and Bangalore. The company is growing at 3 times India’s GDP growth and expects even more robust growth going forward by creating value addition in industries.
Because of the company’s level of expertise in their laundry business in India where their technology has been able to save 40% both in the usage of water and in energy consumption, Peribere said, “We are going to increase our manpower by 50 per cent, and we are going to make our global laundry labs in India because we have an extraordinary and growing business here in India.”
January 13, 2015 1 Comment
According to VCCircle.com, global real estate consultancy firm Cushman & Wakefield has reported that Bangalore, NCR, Mumbai, Hyderabad, Pune, Chennai, Ahmedabad, Kolkata are the top eight cities that are expected to have a robust supply pipeline of 46.4 million square feet of office space available in 2015. The release said this supply is likely to favor tenants, presenting them a variety of quality options to choose from and negotiating power in the short term.
The overall vacancy for top eight cities, is estimated to rise to 19% this year. The rise will be fueled by companies in IT-ITeS, banking, financial services and insurance sectors (BFSI), pharmaceutical and manufacturing sectors which are expected to ramp up their operations due to the impact of improved business sentiment, political stability and India’s economic scenario.
January 3, 2015 No Comments
Narayana Health, a multi-discipline chain of hospitals, founded by Dr. Devi Prasad Shetty, now extends from its base in India to the Cayman Islands. In 2001 Dr Devi Shetty embarked on a plan to transform healthcare in India. From a 225-bed hospital in 2001, called Narayana Hrudayalaya (Sanskrit for ‘a home in the heart of the preserver of the universe’) Narayana Health has grown to a 7500-bed healthcare conglomerate in 2014 with 29 hospitals present in 17 cities within the country. With a razor sharp focus on efficiency and quality, the average Narayana cardiac hospital performs 40 heart surgeries a day for less than $1,600 a case. His hospitals offer patients, not only from India but all over the world, affordable and quality healthcare.
In February 2014, Health City Cayman Islands was inaugurated – a collaborative effort of the Cayman Islands, Narayana Health, and Ascension Health Alliance, the largest Catholic health-care provider in the U.S. The initial target patient population of Health City is the Caribbean and bordering countries and, by the spring of 2015, it will actively market its services to U.S. patients, insurers, employers, and perhaps the U.S. government.
Currently, Health City Cayman Islands is a tertiary care hospital that focuses on adult and pediatric cardiac surgery, cardiology, and orthopedic surgery. On the cards are cancer care and transplant services, an international medical school and a variety of residency training programs. Over the next decade it has plans to expand to a 2,000-bed hospital and expects to be a Joint Commission International, USA (JCI)-accredited facility providing care in all major specialties.
Dr. Shetty charges less than half the average U.S. price for surgical procedures. The quality of the outcomes are likely to match or exceed U.S. hospitals based on studies conducted in India according to an article in Forbes magazine.
High quality and low costs are managed by applying industrial principles and advanced technology to healthcare, using data and analytics to monitor patients’ conditions, as well as to control finance. Dr. Shetty told CIO India, “We want to create a robust IT platform to control the finance department and quality of services. We are perhaps one of the few hospitals in the world where a balance sheet is created on a daily basis. A sophisticated ERP system on a cloud solution houses financial details about all group hospitals.”
Patient-centric practices adopted in Shetty’s hospitals are the pivot for ensuring patient safety and quality care, which in turn translate into a high success rates of survival. The use of technology is another enabling factor. Each patient’s medical information is collected round the clock and is monitored closely by doctors and nurses by using Google Glass devices and Bluetooth enabled watches. Large computer screens display comprehensive medical data of each patient which doctors can access easily. The central monitoring area is staffed by experienced physicians who closely monitor post-operative video feeds of each patient during the day in the location they are in, and also for hospitals in India where it is night, since past midnight the least experienced staff are on duty. The doctors in India do the same for their patients in India as well as for patients at Health City in Cayman. The slightest suggestion of a problem is immediately communicated to the physicians in charge of the patient. While creating prescriptions, doctors calculate drug interactions using a specialized and sophisticated software to help them, and thus avoid complications due to adverse drug reactions. Staff are trained to avoid delays in diagnosis and treatment. The hospital-wide average time for an appropriate response in one of Dr. Shetty’s hospitals is seven minutes, and he wants that time to be reduced by half.
By servicing high volumes of patients across many locations, a hospital chain can take advantage of the economies of scale. They can charge less because they buy in bulk, preferably from the manufacturers rather than distributors of medical supplies, and their teams become more efficient due to the high volume and specialization involved.
“Henry Ford proved that the commoditization of a product makes it cheaper, makes it better and makes it more efficient,” said Dr. Shetty. “I strongly believe that we have to commoditize the delivery of healthcare, and that is the model that Health City represents for the world.”
The Wall Street Journal has called Dr. Devi Shetty, the “Henry Ford of Heart Surgery.” By treating so many patients and asking doctors to standardize their procedures and specialize in their strongest areas, Narayana’s surgeons are able to perform more surgeries than other hospitals in India and the U.S., while maintaining impressive success rates.
December 24, 2014 No Comments
XL Group, the global insurer and reinsurer opened offices at Bangalore, India, where a team of 300 employees will provide underwriting support, claims administration, actuarial services, finance and accounting, according to the company Website.
Myron Hendry, executive vice president and chief platform officer at XL Group stated that this expansion “marks our ongoing commitment to hiring talent and developing expertise for our operations in India.”
XL Group’s country head for India, Derek Nazareth, said, “India plays a huge part in supporting XL Group’s global business and in delivering its growth targets. Our ambition is for our operations here to become centers of excellence for the Group.”
XL Group’s operations in India date back to 2004 when the company opened in Gurgaon, near New Delhi. Today the Group’s International Leadership Team recognizes the valuable contribution and capabilities XL Group’s operations in India is making and has made the opening of a second office a strategic priority.
December 12, 2014 No Comments