New Age Start-ups – Advantage India!
2. Indian entrepreneurs are better equipped to deal with extreme uncertainty
Eric Ries’ definition of a startup pre-supposes extreme uncertainty. It’s not new for the Indians. In fact it’s an everyday affair. When an Indian starts from home; his ETA at office is a stochastic variable given the chaotic traffic conditions he has to contend with. His estimate is always a range estimate – whether for reaching office (in 5 or 10 minutes) or for completing some task (in a week or two). When you have a project with multiple dependencies – each having its own uncertainty; uncertainties cascade to extreme levels. It’s no wonder then that Indians have an elaborate religious ceremony to pray to God whenever an important project kicks off. Its best to recognize and treat the uncontrollable as such.