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.

the sting Milestones

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

EU finally to extend sanctions on Russia despite arguments; Greece again in Europe’s spotlight

What is the Internet of Things?

Scale of displacement across Myanmar ‘very difficult to gauge’, says UN refugee agency

EU migrant crisis: Germany, France and UK to show the way. Will the rest of the EU follow?

Global Recovery: The EU disburses SDR 141 Million to the IMF’s Catastrophe Containment and Relief Trust

Joint  EU-US Statement on  the Global Methane Pledge 

“Joining forces to #BeatPollution”, a Sting Exclusive by the Head of UNEP in Brussels

This is what CEOs around the world see as the biggest risks to business

How scientists are turning living cells into the tiny factories of the future

COVID-19 is threatening the lives of migrant children held in US custody

The COVID-19 recovery can be the vaccine for climate change

At G20 Summit OECD’s Gurría says collective action vital to tackle global challenges

UN rights chief ‘appalled’ by US border detention conditions, says holding migrant children may violate international law

Why trade wars have no winners

GSMA Announces Final Event Lineup for Highly Anticipated 2019 “MWC Los Angeles, in Partnership with CTIA”

EU leading in global agri-food trade

Member States’ compliance with EU law in 2018: efforts are paying off, but improvements still needed

The widely advertised hazards of the EU not that ominous; the sting is financial woes

South Korea once recycled 2% of its food waste. Now it recycles 95%

MEPs adopt Technical Support Instrument to speed up post-COVID-19 recovery

MEPs demand end to EU arms exports to Saudi Arabia

The ECB ‘accidentally’ followed IMF‘s policy advice for growth and job creation by printing more money

Brexit: European Commission publishes Communication on preparing for the UK’s withdrawal from the EU

The gender gap of medicine in 2018

Why our future relies on more inclusive and transparent innovation

What’s behind South Korea’s elderly crime wave?

European Commissioner for Youth wants young people to be at heart of policy making

EU: All economic indicators in free fall

Stop wars disguised as peace missions

Young translators at EU schools – Commission opens registration for 2020 translation contest

Social, cultural diversity ‘an enormous richness, not a threat’ Guterres declares calling on investment for a harmonious future

ECB money bonanza not enough to revive euro area, Germany longs to rule with stagnation

Five avoidable deaths per minute shows urgent need for action on patient safety

Towards a seamless internal EU market for industrial goods

Digital Green Certificate is the right move but speeding up vaccination is key

Myanmar doing too little to ensure displaced Rohingya return: UN refugee agency chief

Brexit: UK business fear of a no-deal scenario preparing for the worst

How man and machine can work together in the age of AI

MWC 2016 LIVE: Orange targets VoLTE and Voice over Wi-Fi; strikes Google partnership

75 years after Auschwitz liberation, antisemitism still threatens ‘foundations of democratic societies’

UNESCO food and culture forum dishes up fresh serving of SDGs

European markets itchy with short-term disturbances

Bioethics: how to recover trust in the doctor-patient relationship

This Kenyan company makes fuel from human poo

“Healthcare system and socioeconomic inequities”-through the lens of developing nations

China repels EU allegations of export subsidies

Germany’s fiscal and financial self-destructive policies

Cameron readies to support ‘yes’ for Britain in the EU

How Bangladesh’s leaders should respond to the economic threats of COVID-19

Civil protection: Parliament strengthens EU disaster response capability

Where are fleeing Afghans finding refuge?

Why the 33,000 staff European Commission did not have a real contingency plan for the refugee crisis?

MEPs approve the EU’s new culture programme

Human Rights breaches in Russia, Afghanistan and Burkina Faso

From raised fists at the 1968 Olympics to taking the knee: A history of racial justice protests in sport

Trump’s Russian affair spills over and upsets Europe

Why is Merkel’s Germany so liberal with the refugees? Did the last elections change that?

MEPs vote for upgrade to rail passenger rights

Mobile technology saving lives: changing healthcare with simple technology solutions

European Defence Fund on track with €525 million for Eurodrone and other joint research and industrial projects

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 )

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

%d bloggers like this: