You have the technology. India offers an enormous market. Innovation Norway has a new program for Norwegian startups.
“Entrepreneurship in Emerging Markets” – 8 day intensive program in Delhi/Bangalore, India. Starting 28th February
Photo credit: Innovation Norway
Trough training, networking and end user interaction, you will be prepared for the differences in both needs and business cultures in India. Your technology or concept will get a controlled test-run to identify needed adjustment. You will be exposed to the Indian startup ecosystem. The aim is to give you insight in both the challenges and opportunities that comes with the packages when entering an emerging market.
If you meet the right criteria’s, this opportunity is too good to be missed
NICCI truly welcome this initiative, hoping some our members will be among the entrepreneurs offered a flying start in India. Personally, I am a huge fan of on-ground exposure. Understanding India without experiencing is simply impossible. Being introduced to the new program, I couldn’t agree more on the need of such a practical approach to introduce Norwegian entrepreneurs to India. The price tag is 10000 NOK, subsidized by Innovation Norway’s financial mechanisms. So, if you think you meet the criteria’s, I highly recommend trying to make it to Delhi in February.
A conversation with Marianne Jensen
I wanted to find out more, so I met Marianne Jensen, Science and Technology Counsellor at Innovation Norway’s office in Delhi. She is the woman behind the pilot program that is developed in cooperation with her colleagues in Delhi and Innovation Norway’s Entrepreneurship unit.
Marianne Jensen, Science and Technology Counsellor at Innovation Norway’s office in Delhi.
-First of all Marianne, why India?
-The next decade’s growth will come in emerging markets such as India. That equals a high demand for innovative technology, products and services -to cover all kind of needs of the society.
-Are Norwegian entrepreneurs actually a good fit with the Indian market?
– Norwegian entrepreneurs represent high knowledge and innovative technology. To actually establish the good fit, the Norwegian companies need more knowledge on the conditions in India. After interactions with end users and evaluation with experts, it is likely that even an already well working business model, needs some adaption. That is one of many elements we will focus on when working together 8 days in Delhi and Bangalore.
-What kind of products and services are ideal for this program, Marianne?
-For this program we are targeting Information and communication technology and applications with high relevance for emerging markets as education, health, e-government, mobile media etc
-So tech startups with a smart software or hardware solutions up their sleeves, are especially welcome to give you a call?
-Yes, very much. Tech entrepreneurs shouldn’t hesitate to get in touch for more information or to discuss if the concept could fit the program. The formal process is simply initiated through the online application on our website.
-Can anyone with a great idea and curiosity for the Indian market join?
-I am afraid that would make the process a little too long. In this program we are primarily targeting already established Norwegian companies, with an already existing product or service. As a very minimum, the entrepreneur needs to have something ready to actually be tested.
-Briefly, what are the key benefits for the ones travelling to India?
– Insight in the particularities of an emerging market, crucial understanding of cultural differences and knowledge on the Indian startup scene. Furthermore the Norwegian companies will get their own product or service evaluated by experts and tested by end users. Based on the feedback and learning the companies will work on adopting the business plan.
-Is pitching ideas to potential venture capitalists part of the program?
-At least indirectly. The participants will meet representatives for incubators and accelerators to interact with and understand the Indian startup ecosystem, models and methods. Issues related to raising venture capital will be touched.
– What happens after the 8 days of exploring India?
– Some of the companies will dive straight into a deeper testing of their business concept and possibly initiate a partner search in India. Everyone will return to Norway with a lot of new knowledge and awareness of possibilities. I hope as many as possible start a process of fine tuning their business plan and head back to India or another emerging market again soon.
-Are most Norwegian companies aware of their possibilities in emerging markets like India?
-We need to create much more awareness of the opportunities. That’s the main reason for initiating this program. Many Norwegian companies have products with a great India-potential, probably without even knowing it.
-Any final comments to Norwegian entrepreneurs interested in joining the program in Delhi?
-Use this opportunity to develop global thinking in your organization. The Innovation ecosystem is global. The major growth will happen in the emerging markets. If a startup is exposed to a global market early, the chance of succeeding increases.
Thanks for a very interesting talk Marianne
NICCI wish you all the best Identifying tech innovation made in Norway and introducing them to the giant Indian marketplace.
Written by: Trond Skundberg
Click here to read more about the program on Innovation Norway’s website