When we talk about startups, India ranks third in the world. Being a hub of thousands of new companies formed every year, India sees the majority of alliances with offshore entities. For the past few years, India's startup ecosystem has been growing steadily and at a fast pace, with many newly formed companies diversifying their focus across various economic sectors and having amalgamated technological innovations to meet the country's toughest challenges. At the same time, some small Indian companies are still waiting to disrupt the economy, unlike their foreign counterparts.
Of late, foreign companies have been joining hands with Indian start-ups to leverage their technical expertise to penetrate Indian markets, simultaneously upskilling India's pool of talent in the fields of engineering, IT (Information Technology), and business management.
"Such collaborations help them in providing access to a vast network and industry talent who provide major assistance in localization of products and services for the Indian markets while attracting a fresh flow of country backed funding entities," says Reza Abbaszadeh, a German entrepreneur and philanthropist who has a host of companies (Abbaszadeh Technologies, Abbaszadeh Capital, Abbaszadeh University and Abbaszadeh Foundation) under his flagship company Abbaszadeh Enterprises.
Now the businessman is eyeing India in his 2021 investment plan and is moving forward at a fast pace to achieve his goals. He plans to invest in the artificial intelligence realm with the help of Indian developers who are much skilled than their counterparts.
According to Reza Abbaszadeh, this sudden spurt of interest in Indian partnerships is because of India going digital in a big way, which has opened up a plethora of opportunities for the country as well as non-Indian entities who want to join hands for a fruitful collaboration.
"As international companies bring in technological advances, domestic companies can help in building business strategies at a local level, which would help forge innovative products and services that will make its mark throughout the subcontinent," informs Reza, who has buckled up and ready to enter the Indian continent to expand his business endeavours.
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