Top CIOs to look at Indian startups in Bangalore next month

Global CIOs (Chief Information Officers), mainly from the United States, will be in Bangalore next month to meet 50 product startups from across the country. The event, which aims at exposing Indian product companies to global players, is likely to see some deal getting struck.

"There will be about 20 CIOs of some of the big firms in the US coming down here to meet these 50 product startups from India," says Avinash Raghava, fellow at iSPIRT, the firm which is organising the event. About 55% of these startups are based out of Bangalore.

Initially, 200 startups from across India had registered for the event. The list was sent to the participating CIOs who shortlisted 50 startups. This a first of its kind event organised in India.

"We want to give these startups an exposure to clients in the US. Usually in the enterprise space, CIOs only buy products from big companies as it is a much safer proposition. However, there are many startups out there that are doing some innovative stuff. This meeting will provide a platform for Indian startups to showcase to the world what they are capable of," says Raghava.

Traditionally, Indian product firms have not been able to carve a name for themselves globally. The perception is that startup founders here invest very little in marketing and branding their products.

"Building a good product is only half job done if it is not marketed and branded well. Great brains might bring out great products, but if there is no marketing prowess, the great solution can pass out of sight," says Mohandas Pai, chairman Manipal Global Education.

However, it is not always possible for startups to invest a big amount in sales and marketing. "We do not have enough resources to reach out to CIOs sitting in the US. Hence, this meet will provide us an opportunity to grab their attention and strike some deals. I believe that we have an interesting product to offer," says Praveen Singh, co-founder 99tests, a Bangalore-based startup.

Though everybody is hoping for a repeat of a massive takeover like Little Eye Labs being bought by Facebook, Raghava says it will be too optimistic to think it will happen this time around. "For now, all I am hoping for is a good show by the startups. Anything above this is like an icing on the cake," he said.

Even for CIOs striking a deal with a startup is not easy. "There are risks involved. One does not even know if a startup would actually survive for another two years. Hence, to go ahead and show faith in a startup requires a daring attitude," remarks Raghava.