Speaking at the 25th Wharton India Economic Forum, Sandeep Naik – Managing Director and Head of General Atlantic’s business in India and Southeast Asia – said there hasn’t been a better time to be an entrepreneur in India than now.
“There is so much global liquidity…we have over USD 2 trillion of dry powder on the investing side that’s waiting to back great entrepreneurs…there are tons of investors that will line up outside your door to make it happen,” he said.
Naik added that he is bullish in segments like health tech, social commerce, and video streaming that have seen much activity in the recent past.
“I am very bullish about health tech, it is going to be a huge opportunity going forward because just like education, there’s going to be an explosion on the health tech side, somebody is going to come, address it, and create massive companies. Social commerce is a big theme,” he said.
He added that live streaming is really taking off and a bunch of short video apps are coming up as well, and so VOD (video on demand) has become a big segment to go after because through that, one can engage in commerce as well.
“There are things happening around finTech, around life sciences, biotech that we get excited about, there are so many things,” he said.
Facebook India Head Ajit Mohan said entrepreneurs would be successful when building a business for the long term.
“I don’t think there is a market for trading ideas. I think there are a lot of people with ideas who kind of want to build something very quickly, but the reality is, it is hard work and a lot of focus on execution, and entrepreneurs who say I’m here for the next 10-15-20 years to build something deep (are the ones who are successful),” he added.
He noted that organisations also need to work on opportunities with depth and scale, especially in countries like India.
“I would pick education and healthcare (as big opportunities) because it seems like these are two sectors where India can really offer solutions for the world, even as it builds answers for itself. We have a large population, and it’ll be explosive if we can line them up through learning and education,” Mohan said.