iSPIRT: M&A Connect (Part A)
Part A of the case describes the founding of the Indian Software Product Industry Roundtable (iSPIRT, pronounced “ispirit”), a nonprofit organization formed in 2012 by a small group of Indian entrepreneurs and technology professionals who believed that India’s tremendous engineering talent could be harnessed to transition the country from its role as the “back office of the world” into a “product nation” in its own right. Led almost entirely by volunteers, the group identified three major obstacles blocking the path of entrepreneurship and innovation in India: 1) obstructive government regulations and policies; 2) entrepreneur readiness (or lack thereof); and 3) the process by which potential acquirers/partners could “discover” Indian startups. Though iSPIRT engaged in numerous initiatives to address these challenges, it is the challenge of “discovery” that provides the focus of Part B of the case.