Microsoft Accelerator released the Ecosystem Report on Indian Enterprise Ready Startups 2016 today at Bengaluru which revealed that banking, retail, and healthcare are the top adopters of startup technologies in India. The report is focussed on those startups that are serving large and small enterprises through deep and complex technological solutions. It showcases 151 enterprise ready startups and the 10 hottest sectors in the country.
Ravi Narayan (Global Director, Microsoft Accelerator), unveiled the report along with Jayanta Dey (Vice President & CTO Manufacturing and Technology SBU at Wipro), Peter Gartenberg, (General Manager, Enterprise and Partner Group, Microsoft Corporation India). Ben Mathias (Managing Director & India Head at Vertex Ventures) and Vinod Muthukrishnan (CEO, CloudCherry) were also present when they released the report.
Ravi Narayan stated, “We are very happy to note that Indian enterprises are looking at startups for innovative solutions and expertise for their Digital Transformation in India. This Ecosystem Report provides insights into how this enterprise-startup partnership has evolved in last few years, underlining the value of collaboration and building the startup ecosystem.”
As per the report, the top 151 Enterprise Ready startups in the ecosystem today are as follows-
The 10 hottest sectors came out to be healthcare, retail, banking, data sciences, security, IoT, edtech, manufacturing, media, and IT/ITES.
This report focusses on B2B and B2B2C business models, taking market traction and external funding as indicators of growth. It focusses on those startups that are serving large and small enterprises through deep and complex technological solutions. The Accelerator based the evaluation on available data to lend objectivity to the analysis and reviewed close to 500 enterprise-ready startups that were founded post-2000 and are headquartered in India.
The methodology, inspired by e=mc2, focusses on Enterprise Readiness Score, which is measured based on three parameters – customer traction, funding, and size of the company.
- 50% of the Enterprise Ready Startups Are In Healthcare, Retail, and Banking
Driven by optimisation, these three sectors have emerged as the biggest adopters of enterprise technology solutions. Banking and healthcare have proven to be the most receptive to startup solutions. With the rise of digitisation across sectors, deep technology companies play a pivotal role in empowering these corporates to build innovative ways to engage with customers and address complex business requirements.
For example, at ICICI Bank, software robots have been deployed across 200+ processes, resulting in reduced the response time to customers by up to 60% and increased accuracy to 100%.
- Data Sciences And Security Startups Find It Easiest To Find Customers
This is because of the broad base of customers and sectors that these startups can address natively. Disruption of technology has helped these businesses to build deep expertise and position them uniquely vis-à-vis other companies in multiple sectors and domains.
- Startups Catering To Banking Sector Find It Easiest To Raise Funds
The report also noted that startups catering to the banking sector are at the forefront of the digital transformation of India. The tremendous scope of opportunity these startups can leverage is one of the key reasons these startups are successful in attracting funding.
The entire report can be viewed here: aka.ms/entreadyindia.