From the Startup World – April 16

Indian startups like to keep things in the family, just like in old economy,

 

 A compilation of important news from the startup world:

 

Top News

 

INDIA

 

Investments in start-ups decline 24%  
Venture capital and private equity firms cut investments in Indian startups by almost a quarter on a sequential basis in the three months to March, the second consecutive quarter they did so, as investors starved of exits and fearful of souring bets hold back cash. Investors infused some $1.15 billion into Indian startups in the first quarter of this year, down as much as 24% from the December quarter, which itself had seen a slump in investments of 48% from the preceding three months, according to a joint report by KPMG and CB Insights….

In Indian start-ups, there’s plenty of room for family
Family-owned businesses were the norm in Old Economy—children or descendents simply inherited their family’s businesses and professions—from politics to medicine. However, unlike in the West, where startup unicorns flowered, the New Indian Economy appears to be following the same age-old, ‘all-in-family’ model, with some of the startups getting launched by, or studded with, family members in important decision-making positions….

Revvx plans to invest in hardware startups  
Bangalore-based hardware accelerator Revvx plans to invest in hardware startups. It is setting up a dedicated fund for investing in startups selected for its accelerator programme. The second batch of startups, which is expected to start in two months’ time, will be the first beneficiaries of this fund, Avinash Kaushik, co-founder, RevvX told Techcircle.in…..

These 3 Indian software product startups are the toast of global CIOs
Artificial intelligence for customer support, language-as-a-service for multilingual markets, and a collaborative platform for finding tech partners – these were the picks of the hottest Indian software product startups for global CIOs at a unique event in Bangalore. What’s unusual about this event is that startups make their pitches to CIOs of large companies who are their potential clients as users of innovative enterprise tech. And even before the pitches, the CIOs of companies like Colgate Palmolive, Accenture, and Bharti Airtel were polled online to select the 45 startups showcased at the InTech50 event this year….

Teachers may get leave to boost startups in Odisha
University and college teachers in Orissa may soon get special leave to mentor budding entrepreneurs, if a government plan to do so sees the light of the day. The proposed move sabbatical scheme for college and university faculty will allow professors to take leave from routine teaching duty to mentor students and groom business ideas at an incubator. The move has invited mixed reactions from the government….

Cabinet to consider intellectual property rights policy
A national Intellectual Property Right (IPR) policy will soon be taken up by the Cabinet for consideration, Commerce and Industry Minister Nirmala Sitharaman has said. “We are taking it up. In fact it has already reached the cabinet secretariat. I hope it will come on the agenda of the cabinet soon,” she said. The national IPR policy has been formulated with the mission to foster innovation, accelerate economic growth, generate employment and entrepreneurship….

Monster.com uses customer base to build ecosystem for startups
The US-based employment website has been making inroads into the startup ecosystem by leveraging its customer base to crowdsource funds for entrepreneurial ventures in India. In January this year, the company came up with a survey to judge the pulse of its 49 million user base around startups….

 

GLOBAL ROUND-UP

 

Netflix faces rivals in India and Southeast Asia that are better adapted to local realities
Startups throughout less affluent countries in Asia are launching low-cost alternatives to Netflix to serve the billions of consumers who either can’t afford it or wouldn’t want it. Backed by local funders, they’re hoping they can differentiate through not just lower subscription rates, but also a wider variety of local content, easier payment methods, and streaming technology better suited to the region’s often pokey internet speeds….

These fintech startups are guiding 100M Pakistanis towards financial inclusion
The World Bank estimates that half of Pakistan’s population lacks access to basic financial services, with less than 5 per cent being women citing ‘distance’ as a major impediment. Thanks to Telenor’s “EasyPaisa” and other new similar services, the silver lining is that Pakistan has the potential to create a mobile money revolution in Southeast Asia. With an aim to solve the problems related to financial inclusion, personal finance comparison portal have cropped up across Pakistan….

This dorm room startup CEO went from $200 to $125 million in seven years
In 2009, Shashank ND, CEO of Practo had just under US$200 left in his bank account to run the company’s operations.To come out of that situation, Shashank started keeping a daily scorecard on a whiteboard in his office with the number of sales he had completed that day and the number of lines he had coded. The company came out of its lowest point and went on to raise US$124 million. It is now valued at about US$500 million, as per last funding round….

Business money talks for wary venture funds focused on tech start-ups
Tech start-ups aimed at businesses rather than consumers are winning more funding from increasingly wary venture capital investors who want to see a return on their cash sooner rather than later. This shift has enabled Soundtrack Your Brand, which plans a U.S. launch this year, to secure $11 million to back its tailor-made music playlists for companies with deep pockets like Starbucks and McDonald’s….

Seattle lessons for Phoenix tech startups
While Seattle’s technology sector has grown steadily, it’s ballooned in the past several years, and technology startups compete there with industry giants such as Amazon, Google and Microsoft. For companies hoping to attract new talent, it takes more than good compensation and benefits. Gambill and other recruits say they’re also looking at what a company offers, the office culture and if there is opportunity to make a social impact through their work….

China’s Tech Startups Raise $6 Billion in Funds
China’s venture capital market is expected to experience another surge, as major companies have raised more than $6 billion worth of funding for startups.The outlook came after China’s three major Internet companies–Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Baidu Inc.–embark on significant fund-raising activities for their various startup ventures, Bloomberg reported…..

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