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Execution of an Idea Is More Essential Than Merely Possessing It
Vishal Gupta
Managing Director-Bessemer Venture Partners India
Wednesday, April 30, 2014
Bessemer Venture Partners (BVP) is an American global venture capital firm with offices in Silicon Valley, New York, Boston, Herzliya, Israel, and India. Since 2004, BVP has invested in over 24 companies in the verticals of Internet and mobile, software products, financial services, healthcare, and power and infrastructure.

Right Time for Virtual Market Place

Large populace of internet consumers and expanding adoption of mobile technology are fueling some of the brightest avenues since past few years. We investors are witnessing grand investment success stories. Advancing technology has penetrated in various sectors and made a remarkable contribution in Small-Medium Business (SMBs’) sectors also. Therefore, with prospering usages of these technologies, we are focusing on investing on consumer Internet, B2B/B2C marketplaces, SaaS for enterprise and small business, mobile payments and consumer healthcare.

Earlier, Indian players were struggling with fragmented supply and inconsistent demand. The market was mainly concentrated in the metros areas. The uneven geographic spread of consumer demand was another challenge in India. But with the birth of online marketplaces i.e., e-Commerce, a significant percentage of sales are now coming from smaller cities where people seek global brands that are not locally available. This quantum leap of consumers from all nooks-and-corners of India was made possible with this online technology.

Technology Driven Innovation

Technology is becoming more user-friendly with its innovation in mobile payments, consumer health and entertainment. New micro and mobile payment technologies are giving SMBs a low cost way of accepting cards, enabling them to build small enterprise inventory and business process platforms which are very exciting.

A lot of buzz is created by wearable technologies within consumer healthcare. The devices continue to evolve, and it’s exciting to think of the potential uses and knowledge that will come from the valuable data collected by these devices.

Here in India, I am personally interested in emerging streaming and compression technologies and companies serving them to consumers directly. The demand for streaming videos, games and music are growing larger by the minute as users from all age group are converging to use it.

Advice for the New Entrepreneurs

Innovation does not mean just having a new idea; it exists in creating a better solution, going beyond the status quo. Execution is essential to the big picture and vision. Innovation can be found in a company’s go-to-market strategy or it can be in how the product engages consumers.

Building a great team early is critical for long-term success. Work with the best, and don’t let your ego get in the way of surrounding yourself with people who are better and brighter than you. Your idea deserves to be executed by these brighter minds. It’s also important to always think of a broader market, you have a better chance of extending beyond your local niche and go global. (As told to Jisha Unni)
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