Sunday, November 20, 2005

Infy, Wipro, TCS as venture capitalists?

I am not sure if I have heard of this one in India or if something of this sort is starting off (Nirmalabs is not really the same thing). There were rumbles of such an incubation facility within one of Indias big IT firms, but not sure how far it has gone. The top tier IT companies with their cash and their expertise can easily kick start a whole new series of businesses and ideas in India.

The time is ripe for Infy, Wipro and TCS to shed their "We only operate in services" image and reality by using some of their cash, expertise and perhaps even infrastructure to incubate some new ideas either conceived by their own employees or tie ups with IITs and IIScs (TCS does some of this already). That will ensure that India does not remain relegated to the role of service provider for ever.

1 comment:

NirmaLabs, Ahmedabad, INDIA said...

NirmaLabs, Ahmedabad - Creating Silicon Valley Ecosystem in INDIA

"If you want to become a techno-entrepreneur but feel that you need some grooming, some help, then NirmaLabs is the perfect place to be....."

NirmaLabs (NL) is an Incubation centre with a difference. The basic idea is to identify individuals with technical knowledge and experience with entrepreneurial traits, bring them to NirmaLabs campus, and "groom" them to evolve project plans for high tech wealth generation ventures. The candidate will pay fee for the grooming program. NirmaLabs is recreating the Silicon Valley ecosystem, here in India.

After grooming (6-months), candidates are expected to come out with a business plan, which 'if selected', will be incubated at NirmaLabs. NirmaLabs will invest upto Rs. 20 Lacs as seed fund during incubation. Apart from that one can get benefit of contacts/resources of people associated with NirmaLabs. Each member of team will also get stipend of Rs.8000/- per month while incubation. There is zero liability on the team. This investment is a soft loan to the company which will be found after incubation. It needs to be paid back only when company is successful, if by chance, company fails, it will get write-off.

Five projects are currently being incubated at NirmaLabs. During incubation, teams are expected to develop 2-3 production ready prototypes of their product.

If every thing goes well, and incubation is successful then they will help finding an Angel Investor/Venture Capitalist (VC) to finally start up a venture with equity of NirmaLabs, VCs, team, etc. The best part is support of team running NirmaLabs, a coterie of well networked, high worth entrepreneurs. The focus will be on high tech entrepreneurship. Its high risk, high gain game.

A NL Project must be innovative, technology oriented, must be scalable, high rate of growth, and should have decent barrier to entry.

Special case:

In case a team joins NL with some idea, then they can undergo Grooming & Incubation concurrently. Also each member of that team gets a stipend of Rs.8000/ per month. There is special fees for grooming in such case.
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NirmaLabs management & team consist of very senior entrepreneurs, go through this pdf (http://www.nirmalabs.org/download/nirmalabs_with_photos.pdf).

Regards,
--
Govind Agrawal
Incubatee, NirmaLabs
Nirma University Campus, Sarkhej-Gandhinagar Highway
Ahmedabad - 382481
Mobile: 09898826260 (Ahmd Nos)
Email: govind17@gmail.com or govind@nirmalabs.org
Yahoo, GTalk, Skype ID: govind17
Home Page: http://www.geocities.com/govind17