ET Online TiE Silicon Valley, the Silicon Valley chapter of The Indus Entrepreneurs, Wednesday announced its Billion Dollar Babies initiative, a new program to help select Indian product startups reach $1 billion in global enterprise value by leveraging the reach and resources of TiE Silicon Valley.
Indian product companies have started making a mark globally with the likes of Druva, InMobi and RateGain operating across shores. TiE Silicon Valley and its Indian partner Indian Angel Network (IAN) would now look to use their clout and reach to mentor, market, open the right doors and in a sense brand product companies from India in an institutionalized way.
Billion Dollar Babies, which launches with its first class in January 2015, will bring selected startups to Silicon Valley for this program. The program will announce the first three companies shortlisted next week in Mumbai and look to add about two more companies in 2015.
The program looks to bridge the worlds of India and the US to help entrepreneurs go global, connect with mentors, potential customers and venture capitalists. The companies will be able participate in the TiE CIO Forum and other educational events, and receive help with legal, accounting, HR/benefits, hiring, marketing, and other company-building tasks.
The Billion Dollar Babies program represents a unique opportunity for young Indian companies aspiring to break through into a competitive global market," said Venktesh Shukla, president of TiE Silicon Valley. "Companies selected for the program will get access to TiE Silicon Valley's rich ecosystem of successful entrepreneurs, top executives and venture capitalists, as well as potential customers. Such access, combined with mentoring and advice from role models, will accelerate the global success of the promising companies selected for this program."
"It is the right time to launch this program in India. Probably 10 years ago it would have been too early but today the ecosystem has matured considerably. India is witnessing an upsurge in the number of innovative software product companies focused on Indian and global markets.
The 'Billion Dollar Babies' initiative has been specifically carved out to nurture these deserving Indian startups and turn them into global technology companies with India being the anchor market and product technology hub," said Saurabh Srivastava, co- founder, Indian Angel Network, TiE Delhi-NCR and NASSCOM and will also be the India co-chair of Billion Dollar Babies.
"Venture capitalists are taking notice of the growing number of companies in the US-India space," said BV Jagadeesh, managing partner at KAAJ Ventures and co-chair of Billion Dollar Babies. "India provides a large domestic market where these companies can validate and refine their products before entering global playing field.
Other members of the Billion Dollar Babies program include Nishith Desai, founder of Nishith Desai Associates, Ravi Gururaj, co-founder of Frictionless Ventures and chair of the NASSCOM Product Council, Ashish Gupta, managing director at Helion Advisors, Dinesh Katiyar, partner at Accel Partners, Ash Lilani, managing partner at Saama Capital and Manu Rekhi, director at Inventus Capital Partners. Applicants to the program must be product companies based in India with global aspirations. The companies must have already raised venture/angel funding and have demonstrated traction both in India and overseas. One of the company's co-founders also must be willing to relocate to Silicon Valley for the duration of the program.
Indian product companies have started making a mark globally with the likes of Druva, InMobi and RateGain operating across shores. TiE Silicon Valley and its Indian partner Indian Angel Network (IAN) would now look to use their clout and reach to mentor, market, open the right doors and in a sense brand product companies from India in an institutionalized way.
Billion Dollar Babies, which launches with its first class in January 2015, will bring selected startups to Silicon Valley for this program. The program will announce the first three companies shortlisted next week in Mumbai and look to add about two more companies in 2015.
The program looks to bridge the worlds of India and the US to help entrepreneurs go global, connect with mentors, potential customers and venture capitalists. The companies will be able participate in the TiE CIO Forum and other educational events, and receive help with legal, accounting, HR/benefits, hiring, marketing, and other company-building tasks.
The Billion Dollar Babies program represents a unique opportunity for young Indian companies aspiring to break through into a competitive global market," said Venktesh Shukla, president of TiE Silicon Valley. "Companies selected for the program will get access to TiE Silicon Valley's rich ecosystem of successful entrepreneurs, top executives and venture capitalists, as well as potential customers. Such access, combined with mentoring and advice from role models, will accelerate the global success of the promising companies selected for this program."
"It is the right time to launch this program in India. Probably 10 years ago it would have been too early but today the ecosystem has matured considerably. India is witnessing an upsurge in the number of innovative software product companies focused on Indian and global markets.
The 'Billion Dollar Babies' initiative has been specifically carved out to nurture these deserving Indian startups and turn them into global technology companies with India being the anchor market and product technology hub," said Saurabh Srivastava, co- founder, Indian Angel Network, TiE Delhi-NCR and NASSCOM and will also be the India co-chair of Billion Dollar Babies.
"Venture capitalists are taking notice of the growing number of companies in the US-India space," said BV Jagadeesh, managing partner at KAAJ Ventures and co-chair of Billion Dollar Babies. "India provides a large domestic market where these companies can validate and refine their products before entering global playing field.
Other members of the Billion Dollar Babies program include Nishith Desai, founder of Nishith Desai Associates, Ravi Gururaj, co-founder of Frictionless Ventures and chair of the NASSCOM Product Council, Ashish Gupta, managing director at Helion Advisors, Dinesh Katiyar, partner at Accel Partners, Ash Lilani, managing partner at Saama Capital and Manu Rekhi, director at Inventus Capital Partners. Applicants to the program must be product companies based in India with global aspirations. The companies must have already raised venture/angel funding and have demonstrated traction both in India and overseas. One of the company's co-founders also must be willing to relocate to Silicon Valley for the duration of the program.
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