New Delhi: Indian entrepreneurs should focus on the unique cost-efficiency-based business model that caters to Indian customers, rather than trying to conquer the global market, according to Sabeer Bhatia, the founder of Hotmail and an investor. Bhatia, who was in the city for the launch of an online Artificial Intelligence (AI) and entrepreneurship course on his app Show Reel in collaboration with Jamia Millia Islamia, emphasized the importance of understanding the different mindset of Indian consumers.
“It all comes down to learning how to walk before you can run. Simply said…don’t try to conquer the whole world because you’ve conquered India… the way people in India think is different from the way the rest of the world thinks,” Bhatia told PTI during the collaboration announcement.
Bhatia also pointed out the cost efficiency economics of Indian startups compared to the time-saving focus of US startups. He reiterated his previous statement that many Indian startups tend to copy western business models, which may not be suitable for India due to its abundant human capital.
“A lot of the startups here are copying western business models, and I don’t think it’s even right for India because western business models are… because of a shortage of human capital there. There is no shortage of human capital in India,” Bhatia explained.
He further highlighted the existing delivery model in India, which has been around for decades, allowing people to get groceries delivered at home with a simple phone call. Bhatia admitted that he was not aware of the existence of the edtech sector and didn’t know about companies like BYJU’S and their contributions.
In a move towards promoting entrepreneurial learning, Show Reel announced funding for 100,000 entrepreneurs through its collaboration with universities like JMI. Bhatia acknowledged the unique position of Show Reel, distancing the platform from entertainment apps like TikTok, Moj, and Josh, emphasizing its focus on the professional space.
Speaking of his future plans, Bhatia mentioned a concept similar to Shark Tank called “Dolphin Tank” that aims to create a competitor to the popular entrepreneurial reality show. However, he refrained from disclosing specific financial details and stated that they would reveal more about the show’s structure in the coming months.
Discussing generative technologies, Bhatia expressed his belief that these technologies would profoundly transform various aspects of human life. He emphasized the potential of having an assistant with constant access to internet knowledge, although lacking critical thinking skills.
Commenting on the launch of the entrepreneurship course on the Show Reel app, Najma Akhtar, the Vice Chancellor of Jamia Millia Islamia, praised Sabeer Bhatia’s contribution to India’s tech revolution and expressed pride in collaborating with Show Reel to revolutionize the education industry.