A compilation of important news from the startup world:
MRSI Announces Platform for Tech Startups
MRSI takes the initiative of building a platform for technology providers to come and present their products and services to key decision makers from the market research industry which includes MRSI Members and others, which can be of use in the Market Research and Insights process. It is initiated with a purpose that the participating members can get a quick view from a number of vendors in just a short span of time and pick applications that interest them. Even the vendors from small or large industries get to pitch to a large number of potential customers at the same time.
Centre plans to let start-ups make EVMs
T he Union Cabinet in its last meeting held on Wednesday decided to allow “start-ups” to bid for producing electronic voting machines, control panel and paper trail equipment using latest technology provided the security aspect is cleared by the Election Commission. “There is a considered view in the government to encourage start-ups to produce EVMs and Voter Verifiable Paper Audit Trail Units (VVPATs) using the latest technology,” a senior government functionary said on Thursday. The EC plans to buy 14 lakh new EVMs at a cost of over Rs 5,200 crore before 2019 when the next Lok Sabha polls are due. The Cabinet had on Wednesday approved the first tranche of Rs 920 crore for the poll panel to buy 5.5 lakh new ballot units and 5.45 lakh control units during 2016-17.
5 startups to work for in 2016
Startups have become the most prominent avenues for job seekers in recent times. India has become one of the fastest growing startup hubs in the world, standing tall at the third position, according to a . It is also one of the five largest startup communities in the world, showing an upsurge in the growth of the desi startup ecosystem with each passing year. Indeed, 2015 was a stellar year, with about $3.5 billion invested across 380 deals closed in the first half of the year. While Bengaluru was the epicentre of Series-A funding last year, Delhi-NCR seems to have taken the spot this year, having attracted billions of dollars from global VC firms. The future of startups is bright, and the “bubble” analogy predicted by market ‘pundits’ doesn’t seem likely for another two decades.
Venture Catalysts enters Delhi-NCR through strategic tie-up
In another major development that underlines its commitment to nurture startup growth in the country, Venture Catalysts announced its entry into Delhi/NCR through a strategic tie-up with Edge Tech Ventures. Venture Catalysts’ latest expansion is being heralded as a game-changing development by entrepreneurs and investors from the region, as it will give the start-up landscape in the Delhi/NCR region a big boost. The expansion in Delhi will foray close on the heels of VCats’ recent expansion into Surat, and underlines its mission to create a high-quality, end-to-end support and investment ecosystem across the country.
Why are there no Facebook/WhatsApp-like startups from India?
Awhile ago, I was pitching my idea of building a global opinion platform to a well-known Indian angel investor. He immediately suggested I move to Silicon Valley to pursue this. The response was probably based on his understanding of global market (or a casual excuse to pass on the investment), but it triggered my curiosity and I questioned him on his judgment. He posed the rhetorical question, “Why there are no Facebook/WhatsApp-like startups from India?” Since that day, this question has been bothering me. Every time I meet any ‘startup guru’, I shoot this question. With a few exceptions, most responded: “India doesn’t have the right ecosystem for such startups.”