In December, a series of Healthtech startups will travel to Banglore, India, to seize their potential in the market. Before they get there, they will be matched with both potential customers and corporate collaborators.

In India, there are more than 420 million Internet users, of which 65% are from mobile devices.

This is a 20% increase from last year alone. India is on the rise.

In other words, a technological transformation in India, where the market shows enormous potential for digital solutions. Particularly, considering that the figures above only cover one-third of the country’s 1.3 billion inhabitants. Now, Coconut Bootcamp will help Danish startups and SMEs to enter one of the biggest markets in the world: India.

Claus Nielsen is responsible for recruiting Danish startups and companies for the boot camp. He has experience with similar trips to Asia and the United States within the field of health or welfare technology. He believes, however, that Coconut Bootcamp’s program stands out for a noteworthy reason.

“At Coconut Bootcamp we spent a lot of time on thorough preparation. We only recruit companies that we believe are ready to enter the market and to ensure that they have a realistic opportunity to do so we match them with relevant partners in India. Our ambition is that they will come home with either an improved market strategy or concrete partnerships,” Claus Nielsen says.

An opportunity you cannot miss

To enter a new market is never easy and considering the sheer number of Internet and mobile users in India (only outnumbered by China) only makes the job more complex. But the users are also a keyfactor for the great potential here. It is estimated that India’s middle class will consist of 547 million people in 2025, making it the world’s third-largest consumer market.

It is crucial that startups comming from Denmark understand the culture and the consumers’ behavior and that they are able to establish a network in the ecosystem. A task you, in theory, can solve yourself. But it requires a lot of time and resources. However, Coconut Bootcamp can be a shortcut into that network.

“At any time you can invest resources into going to India and you can also have embassies help you to introduce to the ecosystem. But because we put so much effort into preparation and bringing many companies to the boot camp at the same time, it is much easier for us to attract investors or larger companies,” Claus Nielsen says.

“There are synergies since many of the major distributors are interested in a market and not just in the individual company. Therefore, we can attract representatives at a higher level in the organizations and decision-makers in companies. In addition, we also use the network around the embassies and the Danish Innovation Center to draw on their insight.”

It is not the first time that Coconut Bootcamp is heading for the South Asian Republic to introduce startups to market entry potential. Last year, the organizers went to New Delhi with ten Danish Edtech companies and this year’s boot camp builds on the experience from last year.

“We have high expectations to the trip on behalf of companies. Typically, they would like to have new customers or other commercial agreements signed when the trip is over. Last years Coconut Bootcamp India had a great rate of success, several of the participating companies came home with new partnerships or customers. The same success rate has not been seen in many other similar boot camps and therefore we see that we offer a unique opportunity, ” Claus Nielsen says.

An overlooked continent

First and foremost, Coconut Bootcamp focuses on growth companies from startups to the larger SME’s who have a product ready to make a difference on the world market. It is essential that you are willing to get the gentle push for a global market expansion. Also, despite the fact that you do not know much about India beforehand.

“Many companies within welfare and health technology are situated well in Denmark. But 5.5 million people also have their limit, and therefore the Danish market must also be seen as a rug box if you have the ambition and potential to make a difference. But unfortunately, most people are looking for nearby Western markets in Europe and the United States. They completely ignore what is happening in Asia,” Claus Nielsen says.

Figures from February this year from the OECD show that India’s economy is growing at the highest speed among the G20 countries. If growth continues, India will overtake the US as the second largest economy in a few years. Therefore, the message from the organizers is clear. Act now if you want to create a competitive advantage in a market with huge potential like India.

Potential in Healttech

In general, there is a high demand for technological solutions in India, but when it comes to the health and welfare industry, the interest for new solutions is high. For the first time in 15 years, the Indian government presented a national health policy, NHP (National Health Policy).

The policy had the modest purpose of promoting an acceptable health standard among the general population. While progress has been made towards improving access to healthcare, it has not been possible to provide quality services to the entire population.

To improve this the Indian Ministry of Health and Family Welfare has just adopted an ambitious goal of screening all of India’s population over 30 years for chronic diseases.

Therefore, the development of new health technology is also an important part of government’s initiative. With the new initiative, the government wants to create healthcare through information on welfare and health technology efficiency. This is a positive development for Danish startups as the high standards we are used to in Scandinavia provides insight on how to optimize technologies and inform policymakers in India to support the country’s goals of universal health service.