With all the action in the Indian economy, Indian SME’s want to capture their share of the pie. They however also understand the limitation they have in terms of resources and competency. As a result they are seeking out business partners, with whom they can forge a mutually beneficial relationship. The kind of partners they are looking for are:
Companies strong on technology – Which will help them to capture the evolving demand from smarter and more aware / globally integrated customers. And associating with a strong technology oriented company ensures them a sustainable business model as well. (A smarter customer is demanding environmentally friendly, modern and value for money product or service) .
Companies with strong brand names – Indian distributors / solution firms now are wanting to have an all India setup and don’t want to stick to regional setup alone. Since the existing firms operating in India can only allow a regional setup (they already have other partners), these firms are looking to get into alliances with strong European, US brands and work with them on a pan India basis.
Technology for new applications – They already exist in some markets and are now looking to diversify into adjacent markets or more critical applications, for which they want Global Technology partners. Their priority is to leverage the existing solutions available globally – be this in chemical and Pharma applications, or in Construction projects like Metro or Solar Energy etc. The reason being they understand the importance of scale and innovation for these markets.
Hand holding – Since firms from developed markets have a larger experience, the locals feel comfortable / assured about backup support in case the need arises.
Innovative products – Which help them get a foot in the door with customers, for other products to piggyback.
Employed Professionals with 15-20 years hard core industry experience are now looking at opportunities to start-up on their own. They have been watching the action from the sidelines, and gathering courage to venture on their own- buoyed by stories of start-up successes’ and availability of finances. They have a positive corporate mindset, aggression to achieve new milestones, industry knowledge and contacts – the only thing wanting is a brand/product/service portfolio and maybe some finance.
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Founder & Managing Director at Expand in India, and IIM Lucknow Alumni having close to 20 years experience in business management, industrial management, strategic planning, marketing, operations, team building, leadership , consulting and six sigma process orientation.
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