“The software product industry is in the midst of a wave of business model innovation, which, accelerated by the recession, is defining the base for customer and vendor value in the years to come,” according to NASSCOM Product Conclave.
Anyone who has had occasion to deal with India lately won’t be surprised that it’s becoming the software capital of the planet. Of the most recent dozen people I’ve spoken with, when asked what they do, the common response, “I’m a software engineer.”
“As customers demand more value for cash spent on software, companies are being pushed to change the old fundamental methods of doing business,” states Sharad Sharma Chair of the NASSCOM Product Conclave.
As a run up to the conclave, NASSCOM showcased 10 product startups that are a part of the East Indian software development revolution. “The companies that have showcased their products today are on a journey that will create every disruption into an opportunity and can make the Indian Software Industry only stronger,” he said.
Highlight of this year’s conclave is ‘Emerge Co-creator platform’, a match making process between users (large customer/ MNCs), Channels (System Integrators), Technology Vendors (IT Product Companies and start ups) like VCs enabling actual networking and pairing of large enterprises or SIs with smaller companies or start ups.
Emerge Product Showcase guarantees to provide a platform for existing startups to collaborate and share insights on the impact of their products’ transformation to a customer and its applicability for other companies.
These successful companies will share experiences with an audience of upcoming startups, imparting valuable insights as to building a robust product-company ranging from idea to inception stage and then on to even scaling up stages.
New product start-ups are increasingly focusing on areas like security solutions, Enterprise Resource Planning (ERP) applications, e-learning and business intelligence that provide access to untapped markets as well as favorable exit options.
The global market for ERP applications is expected to grow 48.8 billion USD, no later than 2013 or 2.7%, thus providing a huge market for Indian vendors.
This means the global intelligence market should grow at a CAGR (2008 to 2013) of 13.3 per cent in order to reach 13 billion USD by 2013.