In another fillip to the start up ecosystem in India, veteran Silicon Valley venture capitalist and Sun Microsystems co-founder Vinod Khosla has set up an incubation centre in Bangalore, according to a Business Standard report.
Srikanth Nadhamuni, the head of technology at the Indian government’s Unique Identification Authority of India (UIDAI) will head the incubator as its CEO.
The Business Standard report added that the incubator will help in creating ventures that can solve issues like social inequality, governance issues and public grievances in India.
Firstpost had earlier elaborated on the problems incubators in India face starting from making technology innovations commercially viable to the lack of acquisitions of these start ups by bigger companies.
The article also questioned the success of some Indian incubators which are run by academicians and not entrepreneurs themselves.
Most entrepreneurs are of the view that incubators set up by entrepreneurs themselves tend to have better success rates because the portfolio companies benefit from the mentors’ business connections, experiences and mistakes. They also tend to have a sound understanding of the market they cater to.
The rising number of incubators including the Start up village in Kochi spearheaded by Infosys’ Kris Gopalakrishnan and Angel Prime, set up by serial Silicon Valley entrepreneur Bala Parthasarathy are seeing a tremendous opportunity in India which has made the Indian entrepreneurs and investors through out the world sit up and take notice of the booming entrepreneurship scene here.
What remains to be seen is if the government will welcome them with investor-friendly regulations and policies.