With PM Modi declaring Technology as one of the pillars of a more robust and self-reliant India, and the Finance Minister coming out with a comprehensive fiscal stimuli plan to revive the economy and boost domestic businesses, India is turning the tables in its fight against the crisis. More importantly, with a spectacular long term vision, the government is allowing for an era of technology evolution dawn on us.
As containment measures ease throughout the country and the globe, we will start to witness a changed consumer and enterprise behaviour. Remote working, contactless customer experiences, reducing human intervention, and dependencies will be standard practices. Consumer goods and service companies will move aggressively towards digitization; companies would begin to let employees work from home, organizations will move to Software and/ hardware technology solutions that enable functionality with the minimum workforce and are not prone to interruptions by acts of a disaster such as the Coronavirus outbreak.
A vital change would be in the perception of Technology, from one of an R&D product to one that has an essential place in SG&A verticals. Margins for businesses and start-ups have never been this important. With extreme corrections in valuations, organizations will be forced to introspect and move towards established fundamentals of business- sustainable economics. The transitions have already begun; technology adoption, planned over 3-4 years, is now taking place in a few months. Whether it be Fortune 500 CEOs or start-up founders, they all resonate with this move.
For us at Windrose Capital and our portfolio Deep Tech and Enterprise-Tech companies, a well of opportunities has been unlocked. We are set to see Deep Tech adoption by companies to increase throughput and reduce dependencies on the human workforce while utilizing outsourced operations of tech-enabled start-ups for their extensive business vertical operations. Businesses stand to massively gain from cost reduction, operational efficiency and strong deliverables brought in by tech adoption. It is not a surprise, but the measures necessitated for the prevention of the spread of COVID-19 have made companies step out of their comfort zones, coercing accelerated transformation.
We are incredibly bullish on the value that will be created by start-ups once containment measures are relaxed and businesses resume operations. At Windrose Capital, we have a well thought through the thesis that compliments the natural economic trajectory of the country and believes that early-stage VCs like us also have a critical role to play. Our collective efforts today to support and enable companies of the future will define the picture of India, a decade from now.