My earlier piece on 50 shades of startup ecosystem struck a chord with many entrepreneurs, investors and the industry in general.
If you trace the core issue – it is very simple. We (= ecosystem/entrepreneurs) are good at fund raising, story telling but an area we often neglect is ‘Product Thinking’.
At scale, most products lack differentiation and the ‘core’ is badly diluted, which is very unlike the global counterparts.
This can be fixed. But only if we drive the #productThinking from day zero (rather -100). And if you dig deeper, there is a bit of lack of ‘bold thinking’.
The need to be right / look good (for instance, startups who have been inserting ‘AI/ML’) often wins over being stupid/laughed upon crazy bold ideas ( I rarely see whacky / daring products these days, as opposed to 2010).
Which is why, to me the only shade that matters is #ProductThinking – after all, companies like Google/Facebook have done more innovation in India than Indian startups; and the level playground demands deeper #ProductThinking than what it is right now.
We at NextBigWhat are working on 2 initiatives around this and will be sharing this with you by early next week. But here is a request – if you have ideas / suggestions around improving the product quotient of the ecosystem (tech+product), please share (my id is firstname.lastname@example.org).
Would love to collaborate/partner/understand.