Judul : ECONOMICTIMES.INDIATIMES.COM: Indian technology startups prefer foreign companies for global exposure & assured funding
link : ECONOMICTIMES.INDIATIMES.COM: Indian technology startups prefer foreign companies for global exposure & assured funding
ECONOMICTIMES.INDIATIMES.COM: Indian technology startups prefer foreign companies for global exposure & assured funding
READ MORE ON » Zynga | YouTube | Utkal university | united states | Twitter | Tushky Events | The National
BANGALORE: A number of Indian technology startups are turning to overseas accelerators in search of mentoring and access to capital despite a plethora of domestic choices. These firms, with businesses ran-ging from personal healthcare services to specialised networking platforms, are joining Singaporeand US-based accelerators that offer assured funding and links to a global customer base.
"Sitting in Mumbai, you can only think about going global, not feel it happening," said Kranti Agarwal, co-founder of Tushky Events & Entertainment, an online service that lists fun things to do around a city. Last week, the Mumbai-based venture was chosen to join the latest batch at 500 Startups, a US-based accelerator.Agarwal, 29, a software engineer from Orissa's Utkal University, expects to raise venture funding of $3 million (around 16 crore) at the end of the four-month program-me, and expand his business across India while also catering to inbound tourists.
Along with Tushky, four other Indian startups are being incubated by 500 Startups, set up by global investor Dave McClure. The Silicon Valley accelerator, which provides initial seed funding of $50,000 ( 27.5 lakh) has picked 20 ventures from around the world for its spring 2013 batch.
Last September, four of the 11 startups chosen for 'Unreasonable at Sea', a US-based accelerator programme aboard a ship, were from India.
In November, Start-Up Chile, an accelerator run by the Chilean government, shortlisted 105 companies for its programme, out of which eight were from India.
Indian Startups Will Dominate
Pankaj Jain, venture partner at 500 Startups, believes Indian startups will continue to dominate the international intake at the Valley-based incubator. "Entrepreneurship is growing rapidly in India. We have just tapped a small percentage," he said. Singapore's Joyful Frog Digital Incubator, commonly referred to as JFDI.
Asia, received over 40 applications from Indian startups for its current batch. The three-year-old incubator has picked three ventures, including community networking platform Askabt, healthcare services provider MyFitnessWallet and medical practice software maker DocTree.
 |
This outcome-based process contrasts with what is on offer at India-based accelerators, say entrepreneurs. Gaurav Srivastava, founder of Bangalore-based AskAbt, spent more than three months seeking incubation and funding at a number of on-campus incubators in India before he applied to the Singapore firm. "The process feels so bureaucratic that most startups won't survive the effort," said 30-year-old Srivastava, whose venture provides crowd-sourced answers to queries by college applicants and students.
In the past two years, over 35 private accelerators and incubators have been set up across India. Experts say there are only a handful of good accelerators while the rest provide only physical space.
"Though there is an increase in the number of accelerators in the country, I don't know how effective they are," said Rishikesha Krishnan, professor of corporate strategy and policy at the Indian Institute of Management in Bangalore. Krishnan is also a part of iSpirt, a think tank for software product companies. "Money is not the only thing that startups require. Incubators, or accelerators, need to also provide good networks to get customers and suppliers."
At 500 Startups, incubated ventures get field trips to companies such as Google, YouTubeand Twitter, mentoring from hundreds of global investors and entrepreneurs besides a workspace in Silicon Valley. "We take a 5% stake in the company in return," said Jain.It is for such extensive support that Indian ventures which have already been incubated at some of India's best-known accelerators (The Morpheus in Chandigarh, multi-city accelerator GSF and MicrosoftAccelerator) still choose to enter overseas programmes.
"The race is very fast there, and you compete with some of the best companies. If you are not top of the game, you will not survive," said
Harishankaran, whose company began as an idea in a hostel room at the NationalInstitute of Technology in Tiruchirapalli four years ago.
Abhinav Krishna, 26, who is on the JFDI programme, said finding good mentors and infrastructure was his biggest challenge.
Demikianlah Artikel ECONOMICTIMES.INDIATIMES.COM: Indian technology startups prefer foreign companies for global exposure & assured funding
Sekianlah artikel ECONOMICTIMES.INDIATIMES.COM: Indian technology startups prefer foreign companies for global exposure & assured funding kali ini, mudah-mudahan bisa memberi manfaat untuk anda semua. baiklah, sampai jumpa di postingan artikel lainnya.
Anda sekarang membaca artikel ECONOMICTIMES.INDIATIMES.COM: Indian technology startups prefer foreign companies for global exposure & assured funding dengan alamat link https://insideoftechno.blogspot.com/2013/05/economictimesindiatimescom-indian.html
0 Response to "ECONOMICTIMES.INDIATIMES.COM: Indian technology startups prefer foreign companies for global exposure & assured funding"
Posting Komentar