Middle East a hotbed for Indian start-ups

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indian softwareIndian start-ups are eager to sell technology-enabled services and products in global markets are finding customers in the Middle East, the Economic Times reported. These ventures in sectors ranging from healthcare to hospitality are finding that customers with high disposable incomes are quick to snap up their offerings.

“We are focusing exclusively on the Middle East as the market offers the potential for rapid scaling provided we overcome entry barriers and cultural sensitivities,” said Nishant Nambiar, a director at healthcare services provider Inforich Technology Solutions. The two-year-old startup which manages hospital data and medical records digitally, launched operations in Saudi Arabia a year ago and now has a partner in Dubai as well.

According to the International Data Corporation, the Middle East will be spending up to $32 billion in consumption of IT services and products, and this is increasing 7.5 per cent year-on-year. Other factors that make the region lucrative for start-ups are the World Expo 2020 to be held in Dubai and Qatar hosting the FIFA World Cup in 2022, all of which will result in a surge of business in the region.

“We are looking to launch product across the whole Arabic speaking region. In terms of marketing spend however, we will be focusing more on the UAE and close by markets first,” said Vikas Jha, founder of Plash Digital Labs, which builds mobile applications for users looking for a personalised news feed.

The company set up in 2012 will launch an ioS application in Dubai this July. Jha who earlier worked with Start Green Venture Capital is adapting products for the Arabic speaking market.

For entrepreneurs, the Arabic speaking world which spans 22 countries with a total population of 422 million is an attractive market as nearly half the people are under the age of 25 and with a high disposable income.

Another hospitality company Scrappy ventures which runs the online portal Room-LIon.com to help find customers find and book service apartments is also looking at the Middle East region.

Padmaja Ruparel, president of the Indian Angel Network, said the Middle East is strategically the best located region for Indian start-ups to take their business further to Europe and Africa. For investors, the tax breaks and a liberal investment policy in the Middle East is a big draw to invest in the region. “The downside however is the need for a local partner to enter these markets, which may dilute the start-up product or service value,” she said.

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Reading Time: 2 minutes

Indian start-ups are eager to sell technology-enabled services and products in global markets are finding customers in the Middle East, the Economic Times reported. These ventures in sectors ranging from healthcare to hospitality are finding that customers with high disposable incomes are quick to snap up their offerings.

Reading Time: 2 minutes

indian softwareIndian start-ups are eager to sell technology-enabled services and products in global markets are finding customers in the Middle East, the Economic Times reported. These ventures in sectors ranging from healthcare to hospitality are finding that customers with high disposable incomes are quick to snap up their offerings.

“We are focusing exclusively on the Middle East as the market offers the potential for rapid scaling provided we overcome entry barriers and cultural sensitivities,” said Nishant Nambiar, a director at healthcare services provider Inforich Technology Solutions. The two-year-old startup which manages hospital data and medical records digitally, launched operations in Saudi Arabia a year ago and now has a partner in Dubai as well.

According to the International Data Corporation, the Middle East will be spending up to $32 billion in consumption of IT services and products, and this is increasing 7.5 per cent year-on-year. Other factors that make the region lucrative for start-ups are the World Expo 2020 to be held in Dubai and Qatar hosting the FIFA World Cup in 2022, all of which will result in a surge of business in the region.

“We are looking to launch product across the whole Arabic speaking region. In terms of marketing spend however, we will be focusing more on the UAE and close by markets first,” said Vikas Jha, founder of Plash Digital Labs, which builds mobile applications for users looking for a personalised news feed.

The company set up in 2012 will launch an ioS application in Dubai this July. Jha who earlier worked with Start Green Venture Capital is adapting products for the Arabic speaking market.

For entrepreneurs, the Arabic speaking world which spans 22 countries with a total population of 422 million is an attractive market as nearly half the people are under the age of 25 and with a high disposable income.

Another hospitality company Scrappy ventures which runs the online portal Room-LIon.com to help find customers find and book service apartments is also looking at the Middle East region.

Padmaja Ruparel, president of the Indian Angel Network, said the Middle East is strategically the best located region for Indian start-ups to take their business further to Europe and Africa. For investors, the tax breaks and a liberal investment policy in the Middle East is a big draw to invest in the region. “The downside however is the need for a local partner to enter these markets, which may dilute the start-up product or service value,” she said.

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