BENGALURU: The startup ecosystem in India is thriving, more so with the recent government policies and start-up friendly initiatives taken to promote this sector. Startups particularly those focusing on healthcare and health tech innovation are going to witness a lot of growth in the years ahead.
Given that India is home to 1.35 plus billion people, the country’s current healthcare infrastructure and allotted budget are inadequate to ensure universal healthcare services to all. Hence, innovations in medical devices and services are the need of the hour.
Already, a growing number of tech-enabled companies like ours are stepping in to provide specialised healthcare monitoring solutions through portable devices using cutting edge tech like the Internet of Things, Artificial Intelligence (AI) and Bluetooth.
– Neha Rastogi, co-founder and COO, Agatsa
Startups must expand their market share. The key is to identify emerging trends and create products that address customer needs as per changing times. The government is helping startups in the form of funding schemes, incubators, and simplification of taxation. What is required is new products and services that create unique experiences for customers.
- Ambarish Ghosh, founder and director, The Hillcart Tales
As businesses become more customer-centric and influencer marketing becomes more common, marketers need to come up with ways to create personalised user experiences and customised campaigns.
P2P lending has also become increasingly popular as an alternative lending route as small businesses find it easier to obtain loans directly from other individuals. Going forward, we can expect more cloud-based services backed by advanced analytics that offer personalized loan limits and payback schedules, based on the borrower’s credit history.
Traditional players will also get into online lending and emulate the strategies of P2P lending companies. More businesses will start adopting work-from-home policies to increase cost savings and productivity. On the tech front, businesses will start investing more in AI and analytics to get a deeper insight into customer behaviour.
– Kewal Kapoor, director and creative strategist of CHAI Kreative and Return of Million Smiles
By 2021, the Indian internet user-base would grow by 500 million users, all from tier 2, tier 3 and rural belts. This new user base will need local language internet, and their expectation of information and services is different. An average of 40 million new users are coming online each year, and the time is ripe to level the field.
Given the low alpha-literacy rates across the nation, platforms that provide regional content like HSN can fix the massive information gap that exists. Recently announced policies by the government have created a more friendly ecosystem for both domestic and international investors. Hence, solving the fundamental needs for this new user base can see great uptake.
– Soum Paul, founder and CEO, Homescreen Network
The biggest trend of the apparel industry would be technology-driven, as we are relying more on technology for our daily needs. The day is not far when the whole apparel industry will also work just with a click. Many new textiles – electronic textiles, geotextiles and medical textiles – will be the future of the textile industry.
When it comes to marketing, there will be more brands that will be moving online, offering free shipping, and giving their users the convenience of ordering products from faraway places,Surveys show that nearly five per cent of all landfill space is consumed by textile waste. Besides, 20 per cent of all freshwater pollution is made by textile treatment and dyeing. With the introduction of Augmented Reality, the garments would be created and trying a sample would be done for the same.
- Devender Gupta, director, Reforce