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no np nq nr ns nt nu nv nw nx gn bk">(In this multi-part series we are doing a deep dive into the world of hardware enabled SaaS companies and see how this model is being used by startups in the real world to build tommorrow’s businesses)</p></blockquote><figure class="ob oc od oe of og ny nz paragraph-image"><div role="button" tabindex="0" class="oh oi fj oj bh ok"><div class="ny nz oa"><picture><source srcSet="https://miro.medium.com/v2/resize:fit:640/format:webp/1*doFjMdDJ6QdICicxx8rPUg.png 640w, https://miro.medium.com/v2/resize:fit:720/format:webp/1*doFjMdDJ6QdICicxx8rPUg.png 720w, https://miro.medium.com/v2/resize:fit:750/format:webp/1*doFjMdDJ6QdICicxx8rPUg.png 750w, https://miro.medium.com/v2/resize:fit:786/format:webp/1*doFjMdDJ6QdICicxx8rPUg.png 786w, https://miro.medium.com/v2/resize:fit:828/format:webp/1*doFjMdDJ6QdICicxx8rPUg.png 828w, https://miro.medium.com/v2/resize:fit:1100/format:webp/1*doFjMdDJ6QdICicxx8rPUg.png 1100w, https://miro.medium.com/v2/resize:fit:1400/format:webp/1*doFjMdDJ6QdICicxx8rPUg.png 1400w" sizes="(min-resolution: 4dppx) and (max-width: 700px) 50vw, (-webkit-min-device-pixel-ratio: 4) and (max-width: 700px) 50vw, (min-resolution: 3dppx) and (max-width: 700px) 67vw, (-webkit-min-device-pixel-ratio: 3) and (max-width: 700px) 65vw, (min-resolution: 2.5dppx) and (max-width: 700px) 80vw, (-webkit-min-device-pixel-ratio: 2.5) and (max-width: 700px) 80vw, (min-resolution: 2dppx) and (max-width: 700px) 100vw, (-webkit-min-device-pixel-ratio: 2) and (max-width: 700px) 100vw, 700px" type="image/webp"/><source data-testid="og" srcSet="https://miro.medium.com/v2/resize:fit:640/1*doFjMdDJ6QdICicxx8rPUg.png 640w, https://miro.medium.com/v2/resize:fit:720/1*doFjMdDJ6QdICicxx8rPUg.png 720w, https://miro.medium.com/v2/resize:fit:750/1*doFjMdDJ6QdICicxx8rPUg.png 750w, https://miro.medium.com/v2/resize:fit:786/1*doFjMdDJ6QdICicxx8rPUg.png 786w, https://miro.medium.com/v2/resize:fit:828/1*doFjMdDJ6QdICicxx8rPUg.png 828w, https://miro.medium.com/v2/resize:fit:1100/1*doFjMdDJ6QdICicxx8rPUg.png 1100w, https://miro.medium.com/v2/resize:fit:1400/1*doFjMdDJ6QdICicxx8rPUg.png 1400w" sizes="(min-resolution: 4dppx) and (max-width: 700px) 50vw, (-webkit-min-device-pixel-ratio: 4) and (max-width: 700px) 50vw, (min-resolution: 3dppx) and (max-width: 700px) 67vw, (-webkit-min-device-pixel-ratio: 3) and (max-width: 700px) 65vw, (min-resolution: 2.5dppx) and (max-width: 700px) 80vw, (-webkit-min-device-pixel-ratio: 2.5) and (max-width: 700px) 80vw, (min-resolution: 2dppx) and (max-width: 700px) 100vw, (-webkit-min-device-pixel-ratio: 2) and (max-width: 700px) 100vw, 700px"/><img alt="" class="bh md ol c" width="700" height="382" loading="eager" role="presentation"/></picture></div></div></figure><h2 id="3d7f" class="om on gu bf oo op oq dy or os ot ea ou nl ov ow ox np oy oz pa nt pb pc pd pe bk"><strong class="al">Part 1 — The Context</strong></h2><p id="fcaf" class="pw-post-body-paragraph mz na gu nc b nd pf nf ng nh pg nj nk nl ph nn no np pi nr ns nt pj nv nw nx gn bk">There is no denying that we live in the age of subscriptions. Looking around we find everything from content to cars, from sofas to servers being offered to customers wrapped in a subscription model. Softwares is one such domain where the subscription model has majorly, if not entirely, replaced an outright sales model to the point that the word ‘SaaS’ has entered our day-to-day vocabulary. The growth that SaaS model has seen in the past few years is nothing short of remarkable. Garter estimates that Saas revenues for 2019 would be around $85 billion worldwide and would clock double digit annual growth in the years to come and if a wider definition of SaaS is used, these numbers are bound to be higher. But while these growth numbers are impressive, they might not be telling the entire story when it comes to the challenges that many early stage pure play SaaS startups are facing at the moment.</p><p id="a68c" class="pw-post-body-paragraph mz na gu nc b nd ne nf ng nh ni nj nk nl nm nn no np nq nr ns nt nu nv nw nx gn bk">One of the factors causing these challenges is that it has never been easier to build a generic SaaS product. Cloud services have made setting up your own servers obsolete for almost all early and mid stage companies reducing barriers to entry. Talent to build such products is more easily available, which with each passing day is making it harder for companies to retain an edge on the basis of superior human resource. Such factors also reduce the capital requirements to reach MVP stage, which along with the availability of capital leads to number of SaaS startups growing much faster than the market, leading to overcrowding.</p><p id="80f0" class="pw-post-body-paragraph mz na gu nc b nd ne nf ng nh ni nj nk nl nm nn no np nq nr ns nt nu nv nw nx gn bk">Even startups that are managing to differentiate themselves from the crowd and gain good initial traction are running into the problems of commodification of their product if there is a lack of defensible IPs or if it is not a technically complicated and hard to engineer product. Commodification risk for such startups is infact two-fold, first from newer startups that can move quickly to copy their market validated product and potentially undercut them. Secondly from bigger more established cash rich companies that, if they choose to not acquire, can leverage their established channels and brand value to rapidly capture the market.</p><p id="90a2" class="pw-post-body-paragraph mz na gu nc b nd ne nf ng nh ni nj nk nl nm nn no np nq nr ns nt nu nv nw nx gn bk">This is why we believe that Hardware enabled SaaS (HeSaaS), a model where hardware is an integral part of the SaaS offering, can be a logical evolution of the pure play SaaS model for many industries and use cases. HeSaaS manages to circumvent or minimize many challenges faced by SaaS startups. The hardware element acts as an anchor, helping in reducing customer churn by reducing the possibility of customers migrating away to a marginally cheaper or marginally better SaaS. HeSaaS startups doing outright hardware sales are further able to magnify the Lock In Effect. Talent to work on specialized hardware design is also tougher to find, which along with defensible IPs makes it tougher to directly copy the product and greatly reduces commodification risk. HeSaaS model also opens up new or untapped niche markets that couldn’t have been effectively served by a SaaS only model. Hence there has been a lot of interest in this space in recent years.</p><p id="3523" class="pw-post-body-paragraph mz na gu nc b nd ne nf ng nh ni nj nk nl nm nn no np nq nr ns nt nu nv nw nx gn bk">In the next parts of this series we would be looking at how HeSaaS companies from different industries are operating in the real world and what makes them tick.</p><p id="1a9a" class="pw-post-body-paragraph mz na gu nc b nd ne nf ng nh ni nj nk nl nm nn no np nq nr ns nt nu nv nw nx gn bk">Part 2 — Open App : A 21st century solution to a millennia old problem <br/>Part 3 — NeuroEquillibrim : Helping you find your balance<br/>Part 4 — PerFit : Future of 3D scanning</p><blockquote class="mw mx my"><p id="a237" class="mz na nb nc b nd ne nf ng nh ni nj nk nl nm nn no np nq nr ns nt nu nv nw nx gn bk">(We at Unicorn India Ventures are always striving to uncover different perspectives in life. We would love to hear your thoughts in the comments below. To hear more from us, follow @unicornIndia on twitter and follow our company page on <a class="af pk" href="https://www.linkedin.com/company/unicorn-india-ventures" rel="noopener ugc nofollow" target="_blank">Linkedin</a>)</p></blockquote></div></div></div></div></section></div></div></article></div><div class="ab cb"><div class="ci bh fz ga gb gc"><div class="pl pm ab ja"><div class="pn ab"><a class="po ay am ao" rel="noopener follow" href="/tag/saas?source=post_page-----aa84a0a4d293--------------------------------"><div class="pp fj cx pq ge pr ps bf b bg z bk pt">SaaS</div></a></div><div class="pn ab"><a class="po ay am ao" rel="noopener follow" href="/tag/unicorn-india-venture?source=post_page-----aa84a0a4d293--------------------------------"><div class="pp fj cx pq ge pr ps bf b bg z bk pt">Unicorn India Venture</div></a></div><div class="pn ab"><a class="po ay am ao" rel="noopener follow" href="/tag/startup?source=post_page-----aa84a0a4d293--------------------------------"><div 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Venture Equity funding to technology businesses across geographies. It also has a UK-India cross-border fund in partnership with Ascension Venture</span></p></div></div></div><div class="h k"><div class="ab"></div></div></div></div><div class="ab qq qr qs iz iy"><div class="qt qu qv qw qx qy qz ra rb rc ab cp"><div class="h k"><a tabindex="0" rel="noopener follow" href="/@kumar.sparsh?source=post_page---post_author_info--aa84a0a4d293--------------------------------"><div class="l fj"><img alt="Kumar Sparsh" class="l fd by ic ib cx" src="https://miro.medium.com/v2/resize:fill:96:96/2*VClbSYaCoRz9ySYPsyt_og.jpeg" width="48" height="48" loading="lazy"/><div class="fr by l ic ib fs n ay re"></div></div></a></div><div class="j i d"><a tabindex="0" rel="noopener follow" href="/@kumar.sparsh?source=post_page---post_author_info--aa84a0a4d293--------------------------------"><div class="l fj"><img alt="Kumar Sparsh" class="l fd by rf rg cx" src="https://miro.medium.com/v2/resize:fill:128:128/2*VClbSYaCoRz9ySYPsyt_og.jpeg" width="64" height="64" 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