January 28, 2007

Google to Fund Indian Startups

Read this one from Red Herring and the news is definitely the result of the booming Indian economy.
As per the report, Google,The Mountain View, California-based search engine giant is contributing an undisclosed amount to Seedfund, a $10-million to $15-million fund that had its first closing in November 2006, according to sources.
An excerpt from the story:
The Google decision may be unusual for the company, but it’s a smart option at this point in India. Google has its own R&D team in India to offer local systems for the emerging market, but their success depends upon how rapidly and effectively they are adopted.

The reality is that India’s Internet market is not yet mature, with only 40 million users going online by the end of 2006, according to the Internet and Mobile Association of India.
Seedfund managing partners Mr. Gandhi and Bharati Jacob have run Infinity Ventures, a profitable early-stage fund when the term was not fashionable in India. Another partner, Mahesh Murthy, is a successful entrepreneur and venture

“At the seed stage, teams with big ideas need less money and more mentoring from people who have an entrepreneurial background,” Mr. Murthy said when the fund launched just two months ago. Given the names who have invested in his fund, he seems to be on the right track.

Mobile phone subscribers now number 150 million, but average revenue per user is still low at about $5 per month. Startups targeting either market are still not quite as mature as the companies in which Google typically invests.

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At Jan 28, 2007, 4:29:00 PM , Anonymous Rishi said...

I'll not say really nice blog ... I'll say fantastic content :)

Thanks for adding me to your blogroll ... I will also do so in mine!



At Jan 28, 2007, 5:10:00 PM , Blogger Himanshu Sheth said...

Hi Rishi,
Thanks for such a feedback.This is the first time someone has mentioned that the site has great content since many have told it has GOOD content

Thanks for blogrolling me :-)


At Jan 29, 2007, 9:45:00 AM , Anonymous Hiral Shah said...

I agree with Rishi’s comment…even whenever I suggested your blog to my other friends. I say them, no need to read business week, or economic times or some movie review….just click to Himanshu’s blog, you will find summarized and latest info….
It means it’s really having gr8 contents with crazy efforts:-))

Hiral Shah

At Jan 29, 2007, 2:12:00 PM , Anonymous Hiral Shah said...

Hi, Himanshu

One more thing,
Once I have read in “7 habits of highly effective people”, that find the difference between good work and effective work.

Here I can say, you are doing an effective blogging, not just good blogging.

Hiral Shah

At Jan 29, 2007, 7:53:00 PM , Blogger Himanshu Sheth said...

Hey Rishi and Hiral,
Thanks guys,I am really flattered with so many compliments :-)



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