Saturday, June 25, 2022

42% of Indian Startups Plan to Go Global in 2022: TurningIdeas Survey

Business Wire IndiaToday, TurningIdeas Ventures shared the results of its recent survey on Indian startups looking to go global in 2022. The survey covered around 100+ startups across different domains and at different stages from ideation to scale-ups. Considering India is now becoming a hub of globally relevant products, startups are now looking to go […]

Business Wire India
Today, TurningIdeas Ventures shared the results of its recent survey on Indian startups looking to go global in 2022. The survey covered around 100+ startups across different domains and at different stages from ideation to scale-ups. Considering India is now becoming a hub of globally relevant products, startups are now looking to go global. The survey revealed that over 42% of startups are looking to expand and tap into global markets in 2022 and over 64% of these startups are in the enterprise SaaS space.
 
The survey results were announced during a networking event with Business Finland for the Indian startup ecosystem today. Business Finland serves as a platform for Indian startups to collaborate with Finnish partners and explore market potential and growth in Finland, and also to support Finnish startups to set up and scale in India.
 
Business Finland, in partnership with TurningIdeas Ventures, organized the networking dinner pitches for disruptive Indian startups in Health-tech, AR/VR and Clean-tech space. The event was hosted by Jukka Holappa, Country Director, Business Finland.
 
Speaking at the event, Jukka highlighted the importance of working together and developing partnerships between the Finnish and Indian start-up communities. Partnerships such as those with TurningIdeas will help mature Indian startups to get a head start in setting up their business in Finland through various programs.
 
Recent years have witnessed a number of young startups going global after setting firm roots in India. Indian startups have expanded their business overseas with great poise, said Ashutosh Kumar, Vice President, International Programs at TurningIdeas Ventures.
 
Expanding globally helps create powerful international brand recognition. When that happens, audiences all over the world become familiar with the startup and its products which can help boost sales, drive marketing, and expand potential markets, even more, Finland provides a great opportunity for Startups to leverage Finnish innovation ecosystem and to tap European markets from Finland, said Puneet Thakur, Head of Invest In and Innovation Collaboration.

“Finding talent is essential for any startup, and an international expansion provides the opportunity to access high-potential global talent pools. As business becomes increasingly interconnected across the world, tapping into these new employment markets will help establish an edge above your competition," said Ashish Mittal, Startup Mentor and Investor.

Some of the startups who presented at the launch included Ubreathe, BioMetaverse, Aftershoot, Dentratech and BlueSemi, who are now looking to set up and scale their business in Finland and the EU.

TurningIdeas also executes soft-landing programs for the global startup to explore and set up businesses in India by helping them do the market assessment and connecting them with the right partners and prospect customers in India’s 100B people opportunity.
 
It's high time for more Finnish companies to look beyond their traditional export markets. The B2B and B2C opportunities with the most significant business potential are increasingly discovered in the rapidly transforming societies and economies of Asian countries.
 
“We are excited about partnering with Business Finland to build a bridge for Indian companies to cross over into Europe and beyond. Helsinki is the English speaking, cultural capital of Europe, and we are looking forward to making it the top destination for Indian founders moving abroad,” said Mansi Gupta, Head, International Programs at Turningideas
 
One of the core goals of these partnerships is to take Indian startups, when they are market-ready and product-solid, to the global markets by virtue of introducing them to our International partners and their leadership investors. Most of the participants' startups are at stage 1 of the 5 level process that TurningIdeas has instrumented using their experience of working with multiple startup’s. The process that Turning Ideas calls LEAP has customizations for geography, size and domain.


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