Internet is catching up on a higher scale in India, with the entrance of web 2.0 companies, rich user content driven portals, and interactive web applications.On a global spectrum Internet driven web services [SOAP,WSDL] are in need than the age old client based application products. India does play a major role in developing these services but unfortunately very few are in effective use within the industry.
The User driven Content portals and value information systems are in need for today’s society.
At your fingertip you would need all the information you require (pulled from web or Mobile devices). If we look into a future course, mobile would be the MANTRA where you could actually book tickets, get traffic directions, read newspapers ,do shopping and who knows,you could get married on a mobile device too :).
But yet India still lags way behind with these development ventures when it is been compared with other upcoming trends and also new technological needs.
In Silicon valley, on an average 40 new companies get noticed every month, whereas in India we have less than 10 in a month.
More encouragement,conviction and product defining strategies is the need of an hour than the servicing industry mindset.
If you follow the trends defined by Google in earmarking the technology, its mainly JAVA and related technologies (which is also used within the Indian Servicing sector). India leads the way.
But when you look at the upcoming trends (for the web technologies), i.e. use of open source technologies like PHP, ROR etc, India doesn’t even figure in Top 10.Its always a heathy boom to look into existence of Indian Web 2.0 companies with new ideas/ innovations always contributing to its growth. To add up to these factors, Indian web industry is gaining more attention from Venture Capitalists who look forward for trends which could match the society needs.
Risk capital investment in the domestic information technology (IT) sector increased from $20 million in 1996 to $320 million.
In the changed scenario, VCs are now looking at new areas such as travel, jobs,matrimony, real estate portals and also social networking!
Frequently Intriguing Questions [FIQ’s]
Short hand: VC : Very [un]Common, sorry its Venture Capitalist!
Should I start a web 2.0 company ?
Yes , why not, u have the idea, prepare a business plan, do a PoC, call for a VC meeting, and you are done!
What kind of web product should I develop?
You need to have expertise in order to understand the technologies, get to know what user needs,but of course be ready to adopt to change (by VCs as well as external market factors)
Which technology should i adopt?
PHP, ROR, ASP.net
How do I hit the global scene?
Start locally. Take the baby steps and if you hit the scene here, most likely your product can do wonders in 5/6th of the world (that’s the size of emerging markets).