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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (7132)	9/23/1999 9:44:00 PM
From: Mohan Marette	Respond to of 12475

35-40% of VC funded companies in Silicon Valley founded/headed by Indians. Exodus plans incubator for Net start-ups (Friday, September 24, 1999)-bs Anjan Mitra in New Delhi Exodus Communications has drawn up plans set up an ?incubator? with an initial investment of $2 million to help Indian Internet startups in the US set up shop in a big way. ?We will be setting up an ?incubator? and put in about a couple of million of dollars for Indian startups,? B V Jagdeesh, chief technology officer of Exodus Communications Inc, told Business Standard. Founder of Exodus, K B Chandrashekhar is also likely to team up with Jagdeesh.India is a very exciting market for e-commerce solutions providers and they are looking at investing in some Indian companies which hold promise, he said. ?We have invested in Graycell, a bangalore-based company, and are looking at some other Indian companies too,? Jagdeesh said, adding, he has invested and helped about 16 US companies with investment and expertise to locate additional funds. Jagdeesh said an investment of between $ 50,000 and 200,000 is needed for startups.Jagdeesh also pointed out that because money is coming from the global market to Indian e-commerce companies, most companies are housing their servers in the US (an example is Rediff on the Net). However, he bemoaned the lack of proper infrastrucuture in India and said people should push the government not to put restrictions on the Internet activities like they have put in other sectors. ?Internet can have phenomenal impact in India if the government manages to implement the community e-mail scheme which is like sharing public telephones by millions," Jagdeesh said. But more importantly, jagdeesh said Indians are looking at new areas of business opportunity in the It sector instead of just being a software consultant. "The shift has started to happen and it is a very good sign," he added. Lauding the entrepreneurial attitude of Indians, Jagdeesh pointed out that about 35-40 per cent of the venture capital funded companies in the Silicon valley have been either founded by an Indian or is headed by an India. "But this window is not going to exists for long and the Indian government must open up the market and let private participation help it build up adequate infrastrucuture here," he explained.