Intel Capital, the venture capital arm of Intel, expects to invest more in Indian start-ups that are focused on technologies related to Internet of Things (IoT).
“In India, as IoT takes off, I expect that we will see more start-up activity and, hence, most potential for investment. And, as we see more potential, we will see more investments also,” said Intel India President Kumud Srinivasan.
“There isn’t a target funding. The way we approach it is that if the technology is of interest, and we believe that it will help us advance our roadmap, then we will invest. I expect it to go up, because as start-ups increase, innovation in start-ups and technology in the IoT space will increase and then that will draw Intel Capital funds,” she told media on the sidelines of a conference here. According to a recent report from the National Association of Software and Services Companies, India is the third largest start-up ecosystem, and poised to see a rapid growth in the number of product start-up operational by 2020. At present, there are around 3,100 start-ups in India, and is expected to grow to 11,500 by the end of 2020, says the study. On the digitial India initiative by Narendra Modi, she said, “So many MNCs have already declared interest to participate in Digital India program. The MNCs are looking for business opportunities, and there will be innovators coming out of the industry.” When asked about the smart city project, “Today if you look at the smart cities program, there is a lot of definition going on in terms of the selection criterion. In terms of execution, it will end up going through a State government where they will put out a bid that people will then apply to. That process needs to unfold, and I see that unfold through the course of 2015.”
