Kris G Looking To Turn Angel Investor. Good News for Kerala Tech Startups?
Speaking on the sidelines of a press conference to announce the CII (Confederation of Indian Industry) 10th India Innovation Summit earlier this month at Bangalore, Kris Gopalakrishnan, Infosys’ Co-founder and Non-Executive Vice-Chairman shared his thoughts of turning into an Angel Investor for tech -startups on his personal capacity after retiring from Infosys later this October.
Enumerating to the reporters in detail his thoughts, he said that he intends to invest in technology companies focused on marketing, digital and e-retailing.
“I’m looking at that….obviously what I know well is technology, within technology this whole area of digital, marketing, e-retailing seems to be very hot. So that’s an area where I would look at, and may be some other…,” he said. However, he also added that rather than starting a fund for start-ups in India he will look to invest directly and plans to leverage the start-up network in Bangalore and Kerala.
Seeing the factor that he particularly mentioned Kerala in his words and owing to the element that he’s the Chief Mentor for Kochi based Incubation Centre Startup Village, things definitely look on the brighter side for Kerala based tech startups.
Bangalore, which has long been the hub for MNC’s, Corporates as well as startups, is seeing a parallel realm growing in Kochi, especially when a startup supportive environment is considered. Startup Village, which now supports close to 1000 startups, has already been in the limelight for advocating the very same sectors Kris Gopalakrishnan mentioned. An example of the same is Flamingo Media, a digital marketing startup based out of SV, being acquired last year by Kreata Global.
A good majority of the startups in Kerala are technology based – App Development, eCommerce, SaaS, Web Hosting and Business Intelligence, to name a few of the sectors. Add this to Mr Gopalakrishnan’s statement saying “Yes there is an opportunity to look at products, but the boundary between products and services will get blurred in the future. Many of the products probably will be delivered as services, so I wouldn’t distinguish between products and services. But definitely innovations in the area of IT is what I would focus on”, and we can peel-off an informal prediction on how important a role startups in Kerala will play in the growth of whole Startup Sector in India.
With such an experienced industry person stepping into angel investing in technology startups, along with topping the hat of a mentor, the coming few years are bound to notice some path-breaking and innovation-rich startups rise out of God’s Own Country. Until then, let’s ensure we provide as supportive an environment as we can, to provide a solid foundation for the Startup Sector here.
Who knows, the next Google Competitor might be simmering up right in our own backyard!
Image Courtesy : The Hindu