The way to entrepreneurship in the developing world

Zomato Logo

Exclusively written for the Sting by Davide Giordano, President of Junior Enterprise Torino Politecnico (J.E.To.P), member of JADE.

Zomato’s adventure started in July 2008, two young consultants, Deepinder Goyal and Pankaj Chaddah, were in the cafeteria of Bain & Company in New Delhi, the consulting firm where they worked. They realized that customers spend a large amount of time looking at the menus in order to order food, so they decided to scan the menus and upload them on an intranet website for Bain employees.

Quickly the website became really popular among all employees and they decided to launch it publicly in New Delhi’s region, Kolkata and then Mumbai, the service was initially called Foodiebay.

Foodiebay grew quickly, changed its name into Zomato and became leader in India for food review positioning itself inside the same market as Yelp and Tripdavisor.

The indian startup however since yet has never been afraid of fighting against such industry giants and today is present in 23 countries, including United Kingdom and US.

It features an active community of reviewers, but also offers services for restaurants such as cashless payments, table reservation, point-of-sale systems and of course the initial scanned menus.

Challenges and obstacles in the past

Zomato is one of the best examples showing young entrepreneurs fighting for their success in developing countries and with a global mentality.

Few years ago this wouldn’t have been possible, many were the obstacles: logistics and transportation of goods, PCs penetration and smartphone usage, online payment, capital, and most of all, internet access.

Beside technical obstacles there was also a problem of mentality, failure has always been strongly stigmatized and previous generations in developing countries like India and China have grown with the main concern of getting a stable job, entrepreneurship was not even considered as a possibility.

A change in mentality

Today entrepreneurship in developing countries is driven by a change of mentality represented by a new category of young entrepreneurs, primarily engineers, in their mid or late 20s with work experience of just 2-3 years when they started and with many starting out of college over the last 18-24 months. They are inspired by great success stories such as Zomato, and we see the results: just as an example the Young Entrepreneur of The Year in 2015 features more winners from Sri Lanka, China and India, while only one come from western countries.

A digital future

Digital startups based on web and mobile apps can generate wealth and simplify people’s lives, we have many examples, like BlaBlaCar, Uber, AirBnB, Flipboard, Telegram, Zalando, HelloFood etc. all they need are a web platform and an app to work.

Developing countries today have all the ingredients to start their own digital future: capital, mentors, internet and digital young entrepreneurs ready to solve the problems they face with a simple app that can revolutionize the life of millions of people.

About the author

Davide Giordano_European Sting

I think as an Engineer, I operate as an Entrepreneur. In January 2015 I’ve become President at J.E.To.P. – Junior Enterprise Torino Politecnico. I’ve managed a Junior Enterprise, an association composed by students, but structured exactly like an enterprise, with 61 students working on different projects, Event creation & organization, Mobile & Website development, Visual Design, Social Media Planning & Strategy. Together we created WTT: Wearable Tech Torino, the first exhibition in Italy on the wearable technologies. Today I’m Senior Advisor for J.E.To.P. and Master student in Computer Science at Politecnico di Torino.

Advertising

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Appalling overall unemployment in Eurozone at 20.6%

UN condemns deadly attack on Burkina Faso church

Iran-US attack in Iraq: Guterres pledges ‘active engagement’ in further de-escalation efforts

Peace operations benefit from improved cooperation between the UN and troop-providing countries, says peacekeeping chief

Here’s how we make the internet safer for children

A 3-step path to securing critical infrastructure

EU-Turkey leaders’ meeting, 9 March 2020

Davos on Climate Change: citizens demanding more actions while CEOs tried to balance profit with sustainability

4 key steps towards a circular economy

Central American migrants must be protected, urge UN experts

New skills needed for medical students in Industry 4.0

Sudan military committed to ‘ensuring stability’ and ‘peaceful transition’ says senior diplomat, as UN rights chief appeals for protesters’ rights to be upheld

Thousands returning to Nigeria’s restive Borno state ‘at risk’; UN ‘gravely concerned’

GSMA announces first speakers for Mobile 360 Series-Middle East and North Africa

AI-powered automation will have an ethnic bias

From farms to supermarkets: MEPs approve new EU rules against unfair trading

Parliament approves €500 million for schooling of refugee children in Turkey

Romanian Presidency priorities discussed in committees

Reading the smoke signals: The long-term consequences of Amazon wildfire on global health

Global hunger is on the rise. These simple steps could help eradicate it

$1.4 billion needed this year to fund UN’s agency for Palestine refugees

Threat from petty criminals who turn to terrorism, a growing concern, Security Council hears

Gender parity can boost economic growth. Here’s how

Suicide Prevention: Using Graduation as a Transformative Tool

G20 starts to tackle inequality

COVID-19: MEPs debate how to best protect cross-border and seasonal workers

Universal basic income is the answer to the inequalities exposed by COVID-19

At Davos, UN chief urges ‘big emitters’ to take climate action

Rising inequality affecting more than two-thirds of the globe, but it’s not inevitable: new UN report

Third Facebook-Cambridge Analytica hearing: data breach prevention and cures

These social entrepreneurs are lighting up Africa

European Youth Forum welcomes the European Commission’s proposed revision of the Union Code on Visas, however it does not go far enough

Coronavirus: Commission boosts urgently needed research and innovation with additional €122 million

Easing fears and promoting gender equality in Chad’s girls-only classrooms

European Semester Autumn Package: Creating an economy that works for people and the planet

A UN-backed boost for women-run businesses in the developing world

FROM THE FIELD: Green shoots of peace in South Sudan

Reinforcing EU border security: Visa-exempt travelers will be pre-screened

This is what Belgium’s traffic-choked capital is doing about emissions

EU Facility for Refugees in Turkey: €6 billion to support refugees and local communities in need fully mobilised

Wednesday’s Daily Brief: #NoTobacco Day, China’s economy, family farming, #ClimateAction

What if Trump wins the November election and Renzi loses the December referendum?

When did globalization begin? The answer might surprise you

Rising number of young people excluded from jobs, education and training

The AI doctor won’t see you now

How digital can transform healthcare in Asia for millions of people

How Finland is fighting fake news – in the classroom

How to change the world at Davos

Freshwater is saltier – and it’s bad for the planet and our health

On International Youth Day the European Youth Forum calls for true youth participation

This ‘hidden killer’ is responsible for one in five deaths, and you might never have heard of it

Four ways Artificial Intelligence can make healthcare more efficient and affordable

Energy: EU priority projects should be aligned with 2050 climate objectives

Combatting antisemitism requires ‘solidarity in the face of hatred’, says UN chief

We need to talk about integration after migration. Here are four ways we can improve it

Secretary-General upholds value of UN Charter for a world in turmoil

How revealing the cost of coal makes us all better off

MWC 2016 LIVE: Under Armour learns from “robust community of data”

What is adversarial artificial intelligence and why does it matter?

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s