A compilation of news from the startup world.
The retail consumer-focused online start-up companies from India are now expanding overseas and getting into markets where similar opportunities exist. The online companies from healthcare, financial services and education sectors after establishing their presence in India are now expanding into Southeast Asia, West Asia and in a certain cases even Latin America.
In a bid to fuel India’s startup ecosystem, Cisco has launched an initiative to accelerate startups and support growth among Indian developers. The Launchpad initiative will help startups, their authorized channel partners and developers scale solutions, tackle new markets and build digital businesses in the country.
In an effort to promote new innovations and sustain the entrepreneurship spirit, The National Association of Software and Services Companies (NASSCOM) paved way to the country’s first Centre of Excellence (CoE) for Internet of Things (IoT) at the NASSCOM Startup Warehouse on July 7th, 2016. This initiative is a joint effort of Department of Electronics and Information Technology (DeitY) and Education and Research Network (ERNET) with NASSCOM being the biggest driving force for this initiative.
If there’s one big, open secret in the world of startups — in India and around the world — it surely is that not every founder will live to take their company down the IPO route. For every Facebook and Alibaba, there are thousands of others that either get bought out or, if unlucky, have to shut shop. However, as the industry matures, consolidation has become a much sought-after road to exit. But how does one build a company for an acquisition?
That venture capital and private equity investments have slowed is known among players in the startup ecosystem, but the sheer extent of it is still surprising. In just a year, the situation has gone from record highs to hitting the ground with a thud. Private equity investments, excluding real estate, totaled $5.8 billion in the first half of the year, nearly 46 per cent lower than the same period last year, according to a half-yearly deal report by financial research platform VCCEdge.
Y Combinator has for the first time inducted three domestic startups into its summer batch, making it by far the largest representation of Indian companies at one of Silicon Valley’s most coveted accelerator programmes. Innov8, a co-working space, self-drive car rental app JustRide, and Meesho, an app for sellers on Facebook and WhatsApp, have been selected by YC, as it is commonly known, for a three-month programme based out of its Mountain View headquarters.