99% of Indian B2B SaaS firms embrace DeepTech innovations
Around 99 percent of Indian B2B software-as-a-service (SaaS) companies have embraced DeepTech innovations as a strategic approach to address their client's needs and challenges. Artificial intelligence/machine learning (AI/ML) is the most leveraged DeepTech (54 percent of use cases), followed by big data/descriptive analytics (39 percent) and intelligent automation (7 percent). The scale of inventive DeepTech in Indian B2B SaaS can be accelerated even further with a nurturing ecosystem.
Availability of DeepTech talent (80 percent), patient capital (40 percent) and DeepTech infra (27 percent) are the top three challenges highlighted by Indian B2B SaaS companies, it noted. “As Indian companies transform to challenge global SaaS leaders and gain market share, inventive DeepTech and intellectual property advantages can enable premium positioning and competitive advantage,” said Nitin Bhatt, Technology Sector Leader, EY India.
Breakthrough Indian B2B SaaS companies, who are inventive DeepTech focused, can potentially unlock ARR (annual recurring revenue) CAGR of 30-50 percent on a sustained basis. “Indian B2B SaaS enterprises are poised to seize a prominent role in the global B2B tech landscape,” said Sangeeta Gupta, SVP and Chief Strategy Officer, Nasscom. Various ecosystem stakeholders are already at play to nurture the country’s DeepTech ecosystem.
“Strategic partnerships with the government and academia, developing inventive DeepTech talent at scale, democratizing research, design and training modules in AI/ML, patient seed capital, and improving infrastructure that encourages a seamless exchange of ideas, expertise and resources will further enable a nurturing environment for transformative DeepTech advancements in the country.”
