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At the height of the technology outsourcing boom in 2004, Mindworks got an assignment from a British airline magazine. The job: Do a story on this question: If you had 2 million pounds to spare, what's the best seaside property you'd buy in Europe? Sitting 5,900 miles away from London, Joseph and his team made international calls and delivered the article in eight days. It was a one-off job, but it encouraged Joseph to relaunch Mindworks as a global media outsourcing company in 2005. After mulling which aspect of journalism would make the most business sense—writing, reporting, or editing—Joseph concluded that copyediting was where Mindworks could most excel. "Tony's track record in journalism and India's labor arbitrage are a big value-add and cost saver for clients," says Ranjan Kapur, who heads the India arm of Martin Sorrell's WPP Group (WPPGY) and personally was an original angel investor in Mindworks Global.
Mindworks' other investors nudged it to explore the U.S. market. In 2007, Helion Venture Partners, a venture capital fund registered on the island of Mauritius, came aboard, buying out the initial investors—WPP's Kapur and the Kolkata-based media house Ananda Bazar Patrika, owner of BusinessWorld, which Joseph once edited. "We felt that media content outsourcing was underutilized but had great potential,— says Sanjeev Agarwal, managing director of Helion. Agarwal has an excellent record—he founded Daksh, India's most successful business-process outsourcing company. Agarwal made a fortune when Daksh was acquired by IBM (IBM) in 2004.
Joseph and his editorial team honed their global outsourcing skills on publications from Southeast Asia (South China Morning Post) and the Middle East(Gulf News), for which they edited copy and laid out pages. Mindworks now has a dedicated editorial and design team, ranging from 5 to 15 people, for each of its eight global clients.
The staffer logs into a foreign publication's general desk basket, where the client's raw stories are parked for editing. Each team member is assigned a few stories, which are checked for grammar, style, and accuracy. In case there are inconsistencies or inaccuracies, the copy editor at Mindworks gets in touch with the news editor of the foreign publication. If the team is handling a particular section of the publication like Sports or Lifestyle, then the contact person in the U.S. is the section head. The reporter is never contacted.
Every deal goes through a two-month transition, when the client and the customer try to understand each other's needs. Either the publication's representative comes to India, or a senior Mindworks team member is posted overseas, for a fortnight to a month, to familiarize himself with the client's style requirements and work culture. "It helps minimize errors," says Joseph. Mindworks plans to increase its staff from 100 to 1,500 people by 2013. Joseph has just hired a new head in the U.S. for new business development and plans to build a five-member U.S. operations team to help market Mindworks'services.
Today, Mindworks may have an early-mover advantage in global media outsourcing, but others are bound to follow. Helion's Agarwal says media outsourcing could be a $2 billion opportunity for India. For the past four years, Gurgaon-based Express KCS has been designing restaurant and product ads for a host of Northern California papers, including Contra Costa Times, The Oakland Tribune, The Argus in Fremont, and Tri-Valley Herald. A year ago, Express KCS ventured into copyediting and layout for London's Property News. More media outsourcing business will flow to India—and to Mindworks. "The issue is, how quickly can they scale up?" says Agarwal. Joseph is confident he can stay ahead. "Our processes are not easy to replicate," he says.
Lakshman covers India business for BusinessWeek.