The Hive India, a Big Data-focused early-stage startup fund has launched its operations in India. The fund will be affiliated to the Silicon Valley based The Hive and will be led by Patni siblings Amit and Arihant. It will be investing around USD 200,000 to USD 2,000,000 in the startups.
As we reported earlier, the fund will be investing in the companies that are already generating some revenues, have customers, as well as entrepreneurs at early stages who need help in refining their product concept.
“Through our platform, we aim to help entrepreneurs create sustainable businesses that incorporate Big Data by providing them with initial capital, mentoring, technical and business guidance, and access to prospective follow on capital and strategic partners.” said Arihant Patni, Managing Director, The Hive India.
The fund will be helping startups by providing them initial Capital, enhancing management bandwidth, accelerating the product development (Access to Silicon Valley – Product/Technology stack), providing help in building prototype, market validation and business plan, and by facilitating access to an ecosystem of US founders/Strategic Partners and Clients.
The Hive India will explore its’ network both from within India as well as from Silicon Valley to help entrepreneurs grow their companies. The network will consists of investors, advisors, successful entrepreneurs, executives, technologists and strategic partners.
In addition to mentoring startups, The Hive India will also host periodic talks and panel discussions to share knowledge and bring together experts and visionaries from academia and the industry.
It will be based out in Mumbai and Bangalore.
We caught with Arihant Patni, Managing Director, The Hive India, to understand more about the fund, main idea, startups it is looking at and what he thinks about big data startup ecosystem in India.
Here is a detailed interaction:
1) What was the main idea behind launching The Hive India?
The Hive India was launched to help entrepreneurs create sustainable businesses that leverage the power of data by providing them with initial capital, mentoring, technical and business guidance, and access to prospective follow on capital and strategic partners. The Hive India will fund and launch data-driven businesses that cater to the global market and work with both companies that are past the proof of concept stage and have garnered some revenue, as well as entrepreneurs at early stages who need help in refining their product concept.
2) How do you see big data ventures doing in India?
While still young and evolving, we perceive India as a potential market with an emerging economy that provides us with ample opportunities to explore. Our focus is on the market opportunities in Big Data and India is an apt market for data driven businesses. Our functional areas of interest are Multi-Channel Marketing, CRM, Security, IT Management etc. Examples of vertical markets of interest are eCommerce and Retail, Media and Advertising, Financial Services and Insurance, Telecommunications, Healthcare etc. Furthermore, our understanding of application verticals create for a perfect opportunity to launch market-leading companies in very short order.
3) How many startups are you looking to fund every year?
We are looking to fund 3-5 start-ups every year with a seed capital in the range of USD 200,000 to USD 2,000,000.
4) Any Startups that have already been decided to invest in?
Yes, one young company based out of Bangalore.
5) What will be the criteria for selecting the startups?
When evaluating startups to engage with, we consider the following factors: the business potential of the idea, the experience and dynamics of the management team, and whether or not The Hive ecosystem can help the company achieve its goals.
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