<div>K<strong>aushik Thakkar</strong>, CEO and Co-founder of Mumbai-based Nevales Networks, is a seasoned business and technology excutive with hands-on experience of setting up businesses in Asia, Europe, Latin America and US. Nevales manages security, connectivity and enables cloud applications for enterprise customers’ branch offices and remote locations on a 'Pay As You Use' model. <br /><br />A global citizen, Thakkar was born in Africa, holds a Swedish passport, is an OCI (Overseas Citizen of India) and is also eligible for US citizenship. Though he has never stayed in India, he still feels very connected to it. The Silicon Valley-based Thakkar spoke to BW Online's <strong>Poonam Kumar </strong>on how he plans on meeting local challenges and providing solution to local needs.<br /><br /><em><strong>Excerpt:</strong></em><br /><br /><strong>When did you start Nevales Networks?</strong><br />I, Sunija Rishi and Ravi Shankar founded Nevales Networks in early 2010, with the main intent of building a hi-tech company based out of India. Although Indians have founded one-third of the hi-tech companies in the Silicon Valley, not many were founded in India. Nevales is the first company I have set up in India. <br /><br />Secondly, we saw local businesses facing a lot of problems that needed a solution. We thought a company that solved local Indian needs that Indian customers were willing to pay for, would have a very big potential. Our assumptions turned out to be right. With my hi-tech background and experience of taking companies globally, I was asked by the shareholders and investors to take up the CEO position. Initially, I wanted to continue with my role in strategies and partnerships, but then I agreed to take over as CEO on March 1st, with the intent of running the CEO and CTO functions from the Silicon Valley. India still plays a big role with majority of the team being based in India, especially in engineering and post sales/support. But the plan is to reach global markets directly from Silicon Valley with the management as well as product management and marketing being run from the Silicon Valley.<br /><br /><strong>What is the trend you have seen emerging in Indian business over the years?</strong><br />My first experience with India was when we started selling products from my previously founded company PortWise in 2002. In 2002, the market for advanced security products was fairly new. Enterprises and banks had some experience, but the typical resellers and customers were still learning. So one thing I see is that Indian business have learnt so much, and built up big knowledge and experience base. Local requirements and challenges obviously are different from the West. On processes and sales, we see the businesses tracking more data, and more connected, especially with deep penetration of mobile phones. Of course Internet connectivity, speed and reliability are completely different compared to 2002-2004. I also feel the self confidence for businesses have gone up, especially after the Tata acquisitions of iconic brands like Jaguar, and even Tetley Tea. But also the huge global success of Infosys, TCS, Wipro etc have made Indians in general more informed about the world.<br /><br />So to summarise, I believe Indian businesses are more connected, more informed and I expect actually over a period of time seeing more successful companies coming out of India. We also feel Indian companies are getting more aware of the security risks in connected businesses, and that the threats from Russian and Chinese hackers are actually a real threat.<br /><br /><strong>How much did you invest in setting up Nevales Networks?</strong><br />When we founded Nevales, the founders together with very close Angel Investors, invested approximately $500 K (5,00,000). In the same year, Seedfund — today the largest individual shareholder — invested a couple of million dollars. We liked Seedfund, as they have a very visionary view on investing where they want to take bets on game changers. Their other investments include Carwale, the hugely successful Redbus etc. They believed in our vision, and actually gave us space to build the product for over two years without revenue, which is a model not that common in India.<br /><br /><strong>What is your take on investment climate in India?</strong><br />Investment climate is always very cyclical, and investors have a tendency of following each other. Also as India is more integrated with the global economy, it gets affected by global changes. For a long period of time, a lot of investments have gone to India, and compared to Russia and China, many investors believe the returns have taken longer time and not been on the same level. In some sectors like e-commerce, a lot of capital has gone in and some adjustments/consolidations surely are expected. Although I believe that even if some slowdown takes place, the underlying trend is very strong. We have a growing middle class, that is more informed, more travelled with high consumption power (less loans and credit compared to US counterparts), and by continuing to solve structural issues we still have a very big opportunity in India.<br /><br /><strong>What are your views on entrepreneurship ecosystem in India?</strong><br />Initially when capital started coming to India, very few had experience in entrepreneurship. In India, it is still to be accepted as an entrepreneur. As both family and others expect you to have a college degree and take a safe government job or job in a large MNC. But by seeing the success stories, and more people entering and nurturing the eco system, the situation is looking up. I think in the second wave we will see really big ideas created and large companies being formed. TiE had a big role in India, and also all the Angel networks/funds that look from an entrepreneurs perspective are truly nurturing the eco system from the lowest grass roots levels. I believe this is the only way to create a sustainable model and foundation.<br /><br />I also believe young women in India are a big untapped resource. They are normally very well educated, and from childhood they are used to doing multiple things (studying, helping with family etc) and they have the motivation also to show what women can do. So I believe we will see many more very successful women entrepreneurs out of India.<br /><strong><br />Now e-commerce portals are a rage. What are the risks in this business as you are also on the board of directors of Mara Online.</strong><br />The Indian middle class is growing and with increasing buying power, it’s just a matter of time when more of the purchasing will go online, especially when we have infrastructure challenges, and shopping is left mostly to women. With this opportunity, and with huge success in western countries, as well as Russia, China and Korea, it’s just a matter of time before India is in the same position. But Amazon was not built overnight. With more capital available, every company did their level best to attract customers, even with unsustainable business models. We see consolidations/adjustments currently taking place in India.<br /><br />Mara Online is targeting the problem differently, where our target market is Sub Saharan Africa, which today is very under-served market. We are also targeting a very young population that is going to be the future consumers. With no technology legacy, our plan is to build a large Mobile Internet Company targeting specifically youth in Sub Saharan Africa, but where we will strategically build infrastructure for payments and communications, to enable for the next e-bay, Amazon and future travel, jobs and e-commerce companies.<br /><br /><strong>What are your future plans?</strong><br />As an entrepreneur you always have a vision, but focus on the present so that you can achieve your vision. I am very pleased that I have got the opportunity to work in India, invest and start companies from India and help the Indian eco-system for entrepreneurs thrive and gain global recognition. This has been important for me as my family has been Africa-based for 3-4 generations. But after Idi Amin (the third President of Uganda), we ended up in Sweden as stateless refugees. Today I am privileged to be a Swedish citizen, OCI in India and am also eligible for US citizenship. So fortunes change very quickly. Though I have never stayed in India, I feel very connected to India.<br /><br />Besides short and medium term plan, with my projects and investments, especially the bigger bets Mara Online and Nevales, we are still looking at India as a big play. On the personal front, one goes through different stages in life, and I have come to a stage where I don't feel I need to prove myself, and am looking for contributing where things matter. I don't believe charity is the only route but there are other routes, where you can help people to start businesses and from there to help society create jobs and wealth.<br /><br />poonam(dot)kumar(at)abp(dot)in<br />poonam(dot)bw(at)gmail(dot)com</div>
