This weekly review is all about technology in India.
“India’s World Startup Report is Released and the Future of Technology Looks Bright for the Country” by Drew Olanoff on TechCrunch
A former LinkedIn employee recently put together a report on the market opportunity for technology in India, as well as the key players in the market. The report is produced under the World Startup Report brand, which highlights hot new markets in the technology space. Brad Feld and Dave McClure, two well-known investors in the space, are both excited about the Indian growth opportunity.
“Pay-As-You-Go Model Expands Solar Energy Access in Rural India” Asian Development Bank
The Asian Development Bank has invested $2 million dollars in our portfolio company, Simpa Networks in India. Simpa provides a prepaid payment platform to make clean energy, like solar home systems, more affordable for rural Indians. With this infusion of capital, Simpa is aiming to serve 60,000 Indian households by 2015.
“How Lean Methodology is Helping Farmers in India” by Rammohan Reddy
Fasal is an SMS subscription service in India that provides farmers with agricultural information on markets, pricing, weather, and more. Over 1 million Indian farmers are using the service, with many reporting increased earnings at the market. This is a great example of how a simple mobile technology can create a significant impact for an underserved population.
“Indian technology: The screen revolution” in The Economist
There’s a significant opportunity in India for startups that use technology to overcome everyday problems. This isn’t the first time technology has the chance to revolutionize the subcontinent. The first technology revolution in India came in 1980s, when Western firms began to outsource their back office operations. Unfortunately, the “champions” of that revolution have not yet made room for the next crop of technology success stories. The potential is there; some estimates put the value of “new-generation technology firms” at $5-6 billion and Internet, smartphones, and startup culture are becoming increasingly popular. To realize this potential, India needs two things: capital and decentralization.