Kunal Bahl, like many foreign residents in the US, was facing visa issues to allow him to stay and pursue employment. But as history has shown, the biggest breakthroughs do not always come in their golden egg form. This so-called “obstacle” allowed Kunal to return back to India and start Snap Deal, India’s Groupon. Today, Kunal is in the unique position of creating jobs at his age instead of trying to climb up the traditional corporate ladder.
We should recognize the opportunities that currently exist instead of joining the band wagon of misguided followers. The emerging markets seem to provide very attractive opportunities in, not only creating an untapped market share, but more flexible and attractive funding options. Nations such as India and China represent closed to a third of the world’s total land mass; lands where glocalization can work wonders.
Along with providing a new pool of customers, these markets are actively working at retaining their existing entrepreneurial talent by providing attractive options not easily found otherwise. Singapore is providing its entrepreneurs four dollars for every dollar they raise. Canada and India’s governments provide incentives via government subsidies in certain sectors. Meetings to secure seed funding via rounds of multiple painful presentations and interviews are more casual and less restrictive in nature in the east.
Therefore, while the maximum initial returns are secured in untapped fields of innovation, let’s not forget that replication has equal opportunity if we remove our blinders.