This Indian unicorn lists out five questions startups should ask themselves before they go global

• Indian startups like Paytm, Ola, Oyo, Zomato have established themselves in global markets.
• Dream11, India’s first gaming unicorn is not dreaming of entering global markets anytime soon.
• Its user base grew at a compounded annual growth rate (CAGR) of 230% over three years.

Indian startups are going global and every second startup is looking at ways to disrupt markets abroad.

The likes of Paytm, Ola, Oyo, Zomato have been successful at it too. Going global is also used as a benchmark to measure the success of a startup.

But, Indian startups which are tailor making their offerings to Indian problems, its consumer mindset and spending pattern; don’t always meet with the same extent of success in a global market.

Dream11, India’s first gaming unicorn, is one of those which is not dreaming of entering the global market anytime soon.

“I believe that if your industry and your company is growing in India at a rapid pace and has an addressable market, you don’t need to go global. We have tried, I’m not just saying ideologically. We have expanded in the past to the USA and Australia, and I realised that we started losing focus on our core market that was also growing rapidly,” said Harsh Jain, co-founder and CEO, Dream11 during a conversation with Business Insider at the TiE Global Summit.

Jain lists down five questions that a startup needs to ask itself before expanding to a new, international market.

1. Is your core business model set?
2. Does it have a predictable business metric?
3. Has the hyper growth reduced?
4. Do you have a next set of leadership team?
5. What is the motive to go global?

“Once you have the above questions answered, you have a greater clarity on whether your startup is ready for the plunge,” he says.

For Dream11, that going global means their India market has slowed down. “It would mean that we apply the same product across globally where our incremental cost of globalisation is very low as compared to the upside which we don’t believe is true,” said Jain.

Dream11 has had a dream run lately – it turned unicorn in April, 2019. Thanks to the IPL and the World Cup last year, the company’s users touched 75 million. Its user base grew at a compounded annual growth rate (CAGR) of 230% over three years.

SEE ALSO:
This Indian startup offers as much as 270% hike in salary for a job well done