India prides itself on being the world’s third-largest startup ecosystem after the US and the UK. But the country’s techies, it seems, aren’t really sold to the idea.
Fewer than 10% of Indian engineers want to work at startups, according to an employability report by the Mumbai-based pre-employment assessment firm Aspiring Minds. The report is based on a survey of over 170,000 engineers who graduated in 2018 from over 750 colleges in India.
Moreover, India’s startups are caught in a bubble, with nine in 10 failing within five years of founding. “…when the unviable astronomical valuations of startups come down and the dust settles on true business cases, especially in B2C, and when more B2B tech product companies gain traction, more engineers may want to work there,” said Yugal Joshi, vice-president of consultancy Everest Group.
New locations (think Jamaica, Romania, Malaysia, and Singapore) are gaining traction as Global In-house Centers (GICs) and service providers seek to match talent to specific need, as well as to diversify their location portfolios
While APAC remains the dominant delivery location, global services headcount is growing in other locations as GICs and service providers recognize the value of location-specific talent and seeks to diversify their portfolios
While the APAC region remains dominant, other regions are growing on the back of digitalization, risk diversification, increasing regulation