India booming as a tech capital due to increasing investments from financial giants
Being Asia’s tech capital: This may very well be the battle cry of India in 2016 as financial and technological conglomerates pour in a new and increasing round of investments into one of the most populous nations in the world. Indians are also reputed to be among the technologically skilled in the planet, which is one reason that can account for investment interest. Employment is certain to rise as well, and India’s highly educated talent pool will further augment their knowledge and interest since various sectors in the country stand to benefit from gaming to cloud computing.
IT leader Oracle is set to launch no less than nine incubators in India over the next 12 months. According to Your Story, these nine cradles of the next tech craze will oversee the mentoring and further training of India’s young entrepreneurial leaders, scientists, and IT professionals. Successful executives and venture capitalists will fly in from the US to guide them in their decision-making, strategic planning, and business execution. Oracle did not give a concrete figure, but a spokesman confirmed in the interview that the company will be allotting “millions of dollars” for the endeavor. The cities that will benefit most from the investment will serve as the location of the incubators, including Bengaluru, Mumbai, Pune, Chennai, Gurgaon, Hyderabad, Thiruvananthapuram, and Vijaywada.
Health startups will be the focus of the investment that Philips, the Dutch powerhouse in consumer electronics and medical care, will be allocating for this year. According to The India Times, Philips will be expanding its 200-strong employee base of data scientists in Bangalore to about 2,000 in the next five years. The company employs another 2,800 staff in other cities. In the interview, Jeroen Tas of Philips says that the new health startups will deal with “intellectually sensitive material” that in turn will need the “core skills” that India’s highly respected IT workforce can provide.
Tech innovator 5BARz International, Inc. has raised another $1,100,000 for funding into its office in India to meet the demand of the country’s telecommunication companies for the network extenders that the California-based company manufactures and produces. The network extender is a disruptive technology that has helped provided a highly effective and viable solution to India’s problem of increasing call drop rates. The portable, plug-and-play device has strengthened internet connectivity in areas considered “dead zones” such as remote resorts, distant towns, and other places which are far from cell structures. It can immediately power up a cell device’s weakening phone signals to a full power of five bars.
5BARz’s customer base of cellular network operators has grown to comprise 42 percent of that market. Leading telecoms have regarded the network extender as a valuable tool in supporting and augmenting their own efforts to improve internet connectivity in India. 5BARz CEO Daniel Bland discloses the company’s strategy for India which is fast-tracking its expansion into the digital landscape: “Following the recent series of orders received by the Company from Tier 1 cellular network operators in India, these funds provide a critical element for the expansion of our business and production capability in a market with 981 million cellular phone subscribers. Our management team in India is focused on achieving rapid penetration into this marketplace.”
5BARz further raises the bar for the playing field by ensuring the functionality of the apps and other internet-reliant devices that the new venture capitalist will create. Another possible beneficiary, for example, is Reliance Games which has plunked in $50,000 to create 20 more gaming startups that will join India’s 250-strong community in the next two years. Gadgets 360 reports that the funds will also be used to train staff, to build data analytics and to conduct marketing campaigns across the massive region.
Technology, talent, and the financial resources are the pillars that create, support, and sustain startups in the international IT ecosystem. The entry of these international giants into India’s digital arena can augur that all of them are looking at the long haul, effectively catapulting India from a promising tech hub into one of Asia’s top tech capitals of tomorrow.