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

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

On Human Rights Day European Youth Forum calls for end to discrimination of young people

This afternoon Britain will be once more isolated from mainland Europe

Eurozone: Disinflation engulfs the industrial goods sector

Vulnerable young people must not be blamed & stigmatised for violent radicalisation

Britain and Germany change attitude towards the European Union

Alice in Colombia

The Parliament defies a politically biased Banking Union

The big challenge of leadership and entrepreneurship in Europe

Eurozone’s north-south growth gap to become structural

On the euro but out of it?

EU sets ambitious targets for the Warsaw climate conference

Intel @ MWC14: Our Love Story with Mobile – Transforming Wireless Networks

Trump asked Merkel to pay NATO arrears and cut down exports ignoring the EU

Everybody against Germany over the expensive euro

Doctors without borders

Arlington, USA: kick-off of the fifth round of the EU-US boxing match

European Confederation of Junior Enterprises hosts in Geneva the Junior Enterprise World Conference

ECB embarks on the risky trip to Eurozone banking universe

Medical students: The need for emigration

While EU Open Days 2013 discuss the 2020 strategy, Microsoft shares a glimpse of EU 2060

The scary EU elections result and the delayed Council’s repentance

China’s stock markets show recovery signs while EU is closely watching in anticipation of the €10bn investment

Germany fears that Americans and Russians want to partition Europe again

Trailing the US-EU economic confrontation

YOUTH RIGHTS AT RISK FROM RISE OF EXTREME-RIGHT AND POPULISTS IN THE EUROPEAN PARLIAMENT

EU to negotiate an FTA with Japan

ECB readies itself for extraordinary monetary measures defying Germany

Zhua Zhou: Choosing The Future

Marco Polo’s Dream

Any doubt?

Happens now in Brussels: Green Week sets the EU and global climate policy agenda

The completion of the European Banking Union attracts billions of new capital for Eurozone banks

Germany to help China in trade disputes with Brussels

Exchanges of medical students and the true understanding of global health issues

Access to health in the developped and developing world

Will the EU ever tackle the migration crisis despite the lack of political will?

GSMA Mobile 360: Connecting Cities, Connecting Lives, Connecting Europe

French elections: by the time the EU economy revives and the migration crisis is solved extremists could take over Europe

The next 48 hours may change the European Union

Nitrate pollution of water sources: new impulses for EU Water Policy?

18th European Forum on Eco-innovation live from Barcelona: What’s next for eco-labelling?

Intel, Almunia and 1 billion euros for unfair potatoes

COP21 Breaking News_03 December: Europe’s children urge leaders to commit to climate action at UN Climate Summit in Paris

No better year for the EU’s weak chain links

Can Kiev make face to mounting economic problems and social unrest?

EU and Amazon cut deal to end antitrust investigation over e-books deals

COP21 Breaking News_03 December: There is a new draft agreement on the negotiating table

Fear casts again a cold, ugly shadow over Europe; Turkey sides with Russia

The European Commission cuts roaming charges. But “it’s not enough”…

A hot autumn after a cool summer for Europe

EU-US to miss 2015 deadline and even lose Germany’s support in TTIP’s darkest week yet

Can the banking union help Eurozone counter its imminent threats?

Should Europe be afraid of the developing world?

Access to ‘affordable’ medicines in India: challenges & solutions

Is Europe misjudging its abilities to endure more austerity and unemployment?

IMF – World Bank meetings: US – Germany clash instituted, anti-globalization prospects visualized

Global Citizen – Volunteer Internships

10 months were not enough for the EU to save the environment but 2 days are

The EU accuses Russia of bullying Ukraine to change sides

More Stings?

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 )

Twitter picture

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

Facebook photo

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

Google+ photo

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

Connecting to %s