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Which Indian IoT businesses are Venture Capitalists likely to fund – #NAMAiot

#NAMAiot: Connected Devices & Internet of Things was supported by content delivery network and cloud computing services provider Akamai Technologies. Indian IoT companies looking to build the best service delivery network or a value-add on top of hardware are more likely to attract VC funding. Vishal Gondal, founder & CEO of fitness tracking solution GOQii, said at the #NAMA "Connected Devices & Internet of Things" event that what Indian IoT companies should really think of is building the best service delivery network, the best value addition, which can sit on top of the hardware. He added that that's what they did at GOQii for example. They were not looking to build the best hardware, and were open to working with every hardware company. They were looking to build the most reliable and the highest quality coaching network on top of the hardware. Focus on India specific applications rather than copying western concepts "There are many (potential) applications (that can be built) in health, there is opportunity in security as well. In fact, I tell jokingly that mapping is not the solution for India - the solution is 'where is my driver taking my car?' That is what everybody wants to know. So, applications need to be thought from an Indian context, because US is a self driving market and you know the entire system is very different. So, a lot of times people who just bring these copycat solutions and say we're doing what 'X' is doing in India, are making…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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