If one is to bet on a sector from the Indian startup ecosystem, Software-as-a-Service (SaaS) would definitely be one of the top contenders. Several factors contribute to this story.
Today, India has the largest pool of SaaS-ready/ skill-ready software developers, UI/UX designers and product managers outside the US. It is estimated that there are over 36,000 product managers, 25,000 SaaS-ready software developers and 100,000 other engineers, who are capable of building a SaaS product. Given that the cost of product developers is one of the most important items on a SaaS company’s P&L statement, and that hiring a software developer in India costs a quarter of what it would in the US, this is a distinct advantage.
A second advantage is that SaaS, by its very nature, does not require proximity to the client. With the software being hosted by the provider, clients don’t have to worry about maintaining hardware, updates or security breaches.
The growth in the domestic market also has a defining role to play in India’s SaaS successes. With sectors such as healthcare, e-commerce, BFSI and education increasingly adopting SaaS, there is exponential growth expected in the SaaS space. Fuelling this growth further is the fact that small and medium-sized businesses are becoming more receptive of SaaS solutions to avoid upfront large capex on technology. This will allow players to hone their products here, before taking them to an international stage, where companies from the US, UK, and the Middle East are already evincing significant interest for Indian SaaS. In fact, 80 percent of the demand for Indian SaaS technology comes from these countries.
Indian companies such as Zoho and Freshdesk have also set an encouraging precedent. The ecosystem that has developed around them (along with assistance from institutions like iSpirt and Nasscom) is all set to tap into the opportunity. All this has contributed to the projection that over the next 10 years, the inherent advantages of being an Indian SaaS company will help them create $50 billion in value.
To help startups in the SaaS space make the most of this environment, Kalaari Capital is launching the #SaaSTalks Challenge for startups working on next-gen SaaS ideas. The #SaaSTalks Challenge aims to enable the founders of these startups to take ideas of their game-changing businesses forward.
After an initial screening round, selected startups will present their idea to the Kalaari investment committee, which will comprise senior partners of Kalaari – Kstart, and other SaaS industry experts.
The #SaaSTalks Challenge is a part of Kalaari Capital’s soon-to be held SaaS Talks: Opportunity Decoded meetup, which aims to further the growth of SaaS startups in India, and help startups looking to make a global impact in the space. Speakers and panellists who are industry leaders in the SaaS ecosystem will discuss in detail their learnings, and talk about the global opportunities that these companies can explore.
If you are a startup working in the SaaS space, then you are eligible to apply. Just fill out the challenge form today. For any further queries or concerns, applicants can write to firstname.lastname@example.org, and someone from the Kstart core team will personally respond.
Registrations are open till 30th April.
If you’re ready to take the challenge, fill out this form to apply for the #SaaSTalks Challenge.
Disclaimer: Kalaari Capital is an investor in YourStory