A compilation of important news from the startup world:
Indian start-ups look to Chinese investors
Chinese investors and technology entrepreneurs are looking to invest in start-ups specialising in areas such as mobile gaming, education, healthcare, financial technology and Internet of Things (IoT) in India. This month, a delegation of investors from nine Chinese venture capital firms visited Bengaluru to invest in young tech companies. About 100 pitched in their ideas to an audience of top investors such as Jianbiao Xiang, Founder, Incapital, Huachun Wang, Chairman, Zhejiang Harmony Investment Group Co and Haijun Wei, Founder, Grand (Daguan) Capital.
Water startups left high and dry
Lack of interest from investors has left most entrepreneurs in the water space high and dry. Startup tracking platform Tracxn’s data suggests that only 20 Indian startups have raised money in the space over the last decade. The most obvious technologies are in water filtration and bottled water, which large corporates have cornered. Other opportunities are in water filtration, purification, monitoring and metering and wastewater recycling. However, venture capital funds, which support social entrepreneurship or impact investing, say they have not found good startups in the space.
3,500 Tribal Women Turn Entrepreneurs As Their Siali Leaf Plates Make It Big In Europe
As many as 3500 women from 127 tribal villages in Kandhamal, Sambhalpur, Angul and Deogarh have agreed to supply 1 lakh siali plates every month to a German company, Leaf Democracy. Talking to The Telegraph, a senior official from the German company said, “Following the Paris Agreement on climate change that aimed at long-term environmental stability, more developed nations are switching to biodegradable products. The hotel industry in these countries has also developed a craze for biodegradable plates, typically made from leaves because these decompose over time and do not have any negative impact on the environment,” These plates are transported to Vishakapatnam port before being shipped to Germany.
Nasscom says IPR policy welcome step for IT industry & startups
The software industry body National Association of Software and Services Companies (Nasscom) welcomed the National intellectual property rights policy, which was approved by the Cabinet on Friday. Nasscom said it “applauds it (policy) for encompassing the entire value chain spanning across IPR awareness, generation, legislative framework, administration, commercialization, enforcement and adjudication, human capital, comprehensively covering all aspects of the domain”.
6 Golden Rules I Learnt As A Young Entrepreneur In India
Taking up entrepreneurship shortly after graduating comes with its fair share of pros and cons. It is quite risky: you are potentially sacrificing years of reliable, stable career growth in exchange for the chance of experiencing incredible personal, career and financial growth. I personally have adopted the middle path: like my peers, I am working full-time for a US-based startup. Unlike most of my peers, however, I work on my own startup at nights and on weekends. At PriceOye.pk, we’re building a shopping intelligence service which helps consumers make great buying decisions – starting with mobile phone price comparisons. It’s a hectic lifestyle, but I’m really enjoying the benefits of both career paths in one go.
Verna and Carmona-based startups win CIBA contest
With an eye on promoting technology startups and entrepreneurs, the Center for Incubation and Business Acceleration (CIBA) in Assagao picked two innovative ideas on Saturday at the finale of the Kaun Banega Udyogpati contest. The two startups will receive seed capital funding amounting to a total of 25 lakh, mentoring and business idea development opportunities from CIBA. Verna-based startup Mascorp Bio, a firm that produces bio-diesel, and Carmona innovator Samson D’Costa walked away with the seed capital and mentorship support for the disruption and innovation that their ideas provide.
‘You can think about investing in India as you would in the Valley, not so in China’
Unitus Seed Fund, an early-stage venture fund based in Bengaluru and Seattle, is backed by institutional investors including Michael & Susan Dell Foundation, Deshpande Foundation, Wadhwani Foundation, Sorenson Impact Foundation and individual investors, including Microsoft founder Bill Gates, Silicon Valley investor Vinod Khosla and Amazon’s senior executive Diego Piacentini. It’s launching a second fund of $50 million (Rs 340 crore) focused on India that’s twice the size of its first fund. The fund will invest the amount in 50 startups with investments between Rs 1 crore and Rs 3 crore in sectors that have social impact like education, healthcare, fintech and agriculture. Will Poole, managing partner, and Srikrishna Ramamoorthy, partner, explain Unitus’ approach to impact investment in India.
With 16 deals Dheeraj Jain gears up to grab bigger slice of early-stage investment in India
The startup revolution in the country has attracted several non-resident entrepreneurs and investors to participate in the fledgling startup ecosystem. Like many, Dheeraj Jain was observing the entrepreneurial goings-on in India from London. “I kept a hawk eye on Indian startups for over a year and ultimately decided to come to India in late 2013,” says Dheeraj. In January 2014, he relocated to Gurgaon to invest in innovating startups. Prior to coming to India, Dheeraj used to be a part of investment firm Redcliff Capital in London. The firm helps Indian companies to go outside India and acquire business and assets under leverage buyout structure, something that not many investors have tried before.