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New Delhi: <keyword id="24017188" type="General" weightage="20" keywordseo="Dubai-based-siblings" source="keywords">Dubai-based siblings</keyword> Jainam and Jivika, the owners of <keyword id="23661436" type="General" weightage="20" keywordseo="Jiohotstar" source="keywords">jiohotstar</keyword>.com domain, have decided to transfer it to Reliance "free of cost", resting speculations on social media platforms. The story of the <keyword id="24017189" type="General" weightage="20" keywordseo="internet-domain-name" source="keywords">internet domain name</keyword>, which grabbed a lot of attention on social media platforms in the recent past, ended with "seva and kindness", according to the duo. The unique website ID was said to have been initially registered by a Delhi-based app developer last year amid speculation about the potential merger of <keyword id="19896911" type="General" weightage="100" keywordseo="Reliance-Jio" source="keywords">Reliance Jio</keyword> and <keyword id="20445926" type="General" weightage="20" keywordseo="Disney-Hotstar" source="keywords">Disney Hotstar</keyword>. Last month, the developer came up with the demand for funding his higher studies at the Cambridge University in return of the domain's ownership transfer, days after Reliance Jio and The Walth Disney formally announced the merger of their media businesses. Later, the Dubai-based siblings purchased jiohotstar.com domain from its registered owner. According to industry observers, the domain was sold to Dubai-based siblings after Reliance declined his offer. The siblings now shared an update, saying the Reliance IP Legal team approached them and the duo has decided to pass the ownership to them (Reliance), hoping that it would be "useful for them". "Reliance IP legal team has approached us, and we will be transferring this domain to them, free of cost," they said in a message on the website. "There have been some rumours online suggesting that there is a payment or deal involved, but we want to make it clear -- this is not true," the message said. Moreover, the duo in his video also clarified there is "no pressure from anyone" and denied of having a "deal of any kind". "This is purely a transfer of the domain from our side because we believe it could be useful for them. Whether or not they choose to use it is up to them," the message added. PTI reached out to Reliance for its comment on the development but did not receive any response. In their previous message, the siblings said they had received numerous offers, including some genuine ones offering significant amounts. However, they had said that the domain was not for sale. While announcing the "journey with jiohotstar.com is coming to an end", the duo said they are waiting for a draft from the Reliance legal team for the transfer. "The Reliance IP legal team has contacted us. We have told them that the <keyword id="24017190" type="General" weightage="20" keywordseo="domain-transfer" source="keywords">domain transfer</keyword> will only happen after the agreement is signed. They have asked us to visit Mumbai to sign the agreement," they said, expecting the agreement to be signed soon. "As soon as this happens, we will transfer the domain and this website will come to an end," the message said. Reliance had last week announced completion of the merger of its media assets with the India business of global media giant The Walt Disney, forming a <keyword id="19967298" type="General" weightage="20" keywordseo="joint-venture" source="keywords">joint venture</keyword> worth around Rs 70,352 crore (USD 8.5 billion). The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson.

Dubai-based siblings to transfer jiohotstar.com domain to Reliance 'free of cost'

<ul class="summary-list"><li>Some expat Indians are moving back home to launch companies of their own.</li><li>India's booming market size, internet growth, and post-pandemic spending is driving their decision.</li></ul>Nithin Hassan, 41, has always been fascinated with building something of his own.As a child in India, he would get in trouble for dismantling electronics around the house just so he could peek inside.In college, in true <a target="_blank" class="" href="https://www.businessinsider.com/startups-to-bet-your-career-on-in-2024-2024-2">startup</a> fashion, he started working on a small business out of his parent's garage in Bengaluru, assembling computers for friends and family.It was the early 2000s and the internet was not the trove of knowledge it is today — Hassan was relying on books to learn. Finding mentorship and the right guidance was a challenge, too.Everyone around Hassan told him that going to the <a target="_blank" class="" href="https://www.businessinsider.com/resume-tips-google-software-engineer-skills-experience-careers-software-tech-2024-3">US for a master's degree</a> was the next big opportunity. So he did.Over the next 16 years, he put his startup plans on hold and worked at some of the world's biggest companies, including Amazon, Microsoft, and Meta.<div type="image" title="Nithin Hassan" height="2450" width="3266" msid="113831978" hostid="261" sizebytes="215682"></div>But the pandemic felt like a turning point. And its aftermath made India look like a lab-designed business environment: It had just become the world's most populous country, the pandemic had created <a target="_blank" class="" href="https://economictimes.indiatimes.com/news/economy/indicators/private-consumption-continues-to-be-supported-by-pent-up-demand-finance-ministry/articleshow/99069973.cms?from=mdr">pent-up demand</a> for consumer products, and growing internet adoption made commerce more scalable, he said.So Hassan left behind about $500,000 in annual pay at Meta to move back to Bengaluru in December 2023 with his wife and two children. He has since launched two startups.Hassan is part of a group of <a target="_blank" class="" href="https://www.businessinsider.com/i-moved-back-to-india-after-living-abroad-for-decade-2024-9">expat Indians moving back</a> home to venture out on their own. As such, he's also part of a decades-long trend of reverse migration back to India.The trend began in the 1990s and picked up at the turn of the century, driven by the economic collapse in 2008, said Binod Khadria, the president of Global Research Forum on Diaspora and Transnationalism. Many of those who returned to India for work were largely working for multinational companies.Today, the impetus for the move often looks a bit different: It's driven by factors like unstable visa policies and economic recessions, which lead to uncertainty when it comes to jobs and duration of stay in these destinations.Many returnees find work in tech, but the finance, retail, and climate sectors also absorb a large number of expat Indians, Khadia said. And some of the returnees are heading back to India to start companies of their own.India is undergoing a startup explosion. The country reported over<a target="_blank" href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2043805"> 140,800 recognized startups</a> at the end of June — nearly 50,000 more than last year — and credited them with creating 1.6 million direct jobs.To be sure, not all of these companies will make it big — and some do still stumble, like <a target="_blank" class="" href="https://inc42.com/features/what-are-the-current-problems-being-faced-by-oyo/">Oyo </a>and <a target="_blank" class="" href="https://www.businessinsider.com/blackrock-hsbc-funds-byjus-startup-valuation-zero-edtech-india-raveendran-2024-6">Byju's</a>. But the chaos, where even established startups are trying and failing, makes India a fair playing field for new entrants, Hassan said.Business Insider spoke to six <a target="_blank" class="" href="https://www.businessinsider.com/india-vc-wants-see-5-traits-new-founders-fundraising-antler-2024-8">first-time founders </a>about why they have recently returned to India after spending several years, or even an adult life, abroad.<h2 id="0e4a3c47-ba19-4690-8b52-c6bfece1c81d">Fastest-growing economy</h2>The health of the economy and interest from investors are fueling the entrepreneurship boom.<a target="_blank" class="" href="https://www.businessinsider.com/india-billionaire-karan-adani-plans-challenge-china-dominance-seaports-2024-8">India's economic growth</a> in 2023 — 8.2% — was the fastest of all large economies worldwide. That's led to greater purchasing power, which lets companies, including startups, sell more.India's inflation rate of about 3.5% is well below its annual wage growth of 9.6%. This makes inflation less of a challenge than it is for slower-growing peers, where consumer-focused businesses have been <a target="_blank" class="" href="https://www.businessinsider.com/economy-jobs-report-sentiment-consumers-elections-recession-inflation-mortgage-rates-2024-9">hurt by high prices</a>.Investors are getting in on the action.From 2015 to 2021, the number of <a target="_blank" class="" href="https://www.businessinsider.com/sequoia-capital-vc-firm-split-china-india-2023-6">unique investors in India</a> nearly quadrupled, though the number is tracking much lower this year, per PitchBook."Other than a slight downturn in 2022 and 2023 due to global macroeconomic factors, VC funding has been consistently growing in India," said Ben Mathias, a managing partner at Vertex Ventures Southeast Asia &amp; India.Besides funding, domestic developments have encouraged founders and VCs too, Mathias said.The Indian government's Universal Payment Interface system has spurred consumers and businesses to pay online, and <a target="_blank" class="" href="https://www.bcg.com/press/2june2022-digital-payments-in-india-projected-to-reach-10-trillion-by-2026">40% of all digital payments</a> globally happen in India today, the partner said.Programs like Startup India, which provides founders benefits like tax exemption, easier compliance, and funding support, have made creating a company smoother.Devyani Parameshwar worked in the microfinance and fintech space in India in the 2010s before heading to the UK and Africa. She returned to India in 2022 to launch a financial management venture."It's changed dramatically. I remember standing in line at various ministries in Delhi trying to get meetings and then trying to get answers and it wasn't easy in the past," she said of her memories of India.Now, she can use an online platform to ask the country's central bank and banking regulator questions.It's easier than ever for foreign companies to invest in India, which means startups have a clearer exit path through acquisition — something VCs think hard about before entering new markets or writing checks.<h2 id="e5dd7b6f-a09f-4ff2-84c1-5907de96dc5e">Market ripe for the taking</h2>For Rohan Bhide, who spent most of his college and professional life <a target="_blank" class="" href="https://www.businessinsider.com/worked-in-big-tech-before-launching-my-own-startup-engineer-2024-9">preparing to launch something of his own</a>, a trip home in 2017 while he was studying in the US was a turning point.Indian telecom giant Reliance had recently launched a cheap unlimited data plan, which spiked Indian internet adoption. India was charting among the countries with the highest online transactions."That really, really drew my attention," said Bhide, who worked at Meta after graduation. "It was my dream come true — a huge market, a huge user base, and at the same time, the ability to adopt technology was incredible."Bhide returned to India in January, leaving behind about $580,000 in total compensation at ticketing platform StubHub. He and a cofounder are working on launching a consumer tech product later this year.<div type="image" title="Rohan Bhide" height="2304" width="3072" msid="113831979" hostid="261" sizebytes="218468"></div>Most Indians grew up wanting to work at a multinational company — but that's changing, Bhide said.Freelancing, running your own business, or working for a startup is much more socially acceptable now, because people see the success of other Indian startups. The country has the third-largest number of "unicorns" — companies worth $1 billion or more — with 64, per PitchBook.<h2 id="7f423804-745b-4e04-a250-839e01663f09">Boom in entrepreneurship culture</h2>A lot has changed since Hassan first wanted to launch his hardware startup in the early 2000s.Tech hot spots like Bengaluru and Gurugram have seen a boom in entrepreneurship culture in the last few years, with meet-ups, networking mixers, and even morning walks with like-minded builders.<div type="image" title="man standing in front of mountains in USA" height="2268" width="3024" msid="113831980" hostid="261" sizebytes="141132"></div>Dhruv Anand, who left Google in the US to move back to India in 2021 to launch an <a target="_blank" class="" href="https://www.businessinsider.com/ai-startups-most-promising-2024-9">AI startup</a>, said that there were lots of other founders and mentors to help guide him."If you want to figure out who's the right chartered accountant to talk to, who's the right lawyer to help you draft agreements, all of that stuff is very easy," Anand said."It's been a really, really supportive community," Bhide said. There are people "telling you about their entire lives just because they want to help you and they're hoping that you pass the favor onto the next person who moves to India and wants to start their own company."<h2 id="3c8bff36-e855-4530-9b44-bcc7f36b0825">Not everything is perfect</h2>Although these founders made the decision to return to India, that doesn't mean they no longer see the benefits of operating in the US.Ruchit Garg founded an agriculture startup in Silicon Valley in 2016, with a focus on supporting farmers around the globe. In 2019, he returned to India, where his late grandfather worked as a farmer.Garg has been building in India ever since, but he says its startup ecosystem cannot yet compete with the Valley's decades of experience."The overall ecosystem was more mature back in Silicon Valley. It's still one of the best places for entrepreneurs. India isn't there yet, although it's growing pretty drastically," he said.Despite efforts to digitalize key processes, many bureaucratic challenges persist.For most founders, after living in US cities where populations are a fraction of those in Mumbai and Bangalore, congested roads and poorer air quality are also everyday annoyances.But India provides some big perks, including affordable domestic help and the appeal of building solutions for problems they witness firsthand."It's a different joy to be able to build for problems that you feel for very personally," Parameshwar, the fintech founder, said. When she worked in Africa, she needed translators. Now, she can speak with her users herself.Bhide said the general sentiment among local founders is shifting from "Build from India" to "Build for India."For some founders, being surrounded by family and the culture they grew up in was another selling point.Niranjan Vemulkar moved back to India in 2015 and later founded a digital legacy planning platform.He said that he never fully felt at home in the US, where he lived for over a decade."For us, it was the fact that we wanted to raise a family in an environment where the children would have access to the grandparents and Indian culture," Vemulkar said. "The fact that you could come back to India, start something of your own and figure things out in an ecosystem which was potentially booming for startups, was just a cherry on the cake."Are you in India and have a story to share about the tech and entrepreneurship landscape? Please reach out at shubhangigoel@insider.com

Some techies are leaving cushy Silicon Valley jobs to launch startups at home in India

<ul><li>Conducted across 15 cities in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, the research indicates 98% of respondents from <keyword id="302378" type="General" weightage="50" keywordseo="east-india" source="Orion">East India</keyword> are aware of <keyword id="6416838" type="General" weightage="20" keywordseo="CoinDCX" source="Orion">CoinDCX</keyword>. </li><li>60% of crypto users in the East have used it in the last one year. </li><li>Users stated easy interface, quick money withdrawal and good referral programs for their preference.</li></ul>A survey conducted by CoinDCX, one of India’s leading crypto exchanges, revealed that 74% of non-crypto users are aware of the crypto exchange. The crypto company conducted an empirical study across 15 cities to understand the awareness of crypto created by exchanges across India. The survey had over 2,000 respondents across platforms. The first crypto unicorn in India, CoinDCX has an estimated 13 million users. While 74% of non-crypto users are aware of CoinDCX as well, over 41% of respondents which included crypto and non-crypto users stated that they could recall the brand spontaneously. Awareness of the brand is 91%, highest among crypto users as compared to other crypto exchanges in the country, revealed the report. Having an easy interface along with safety and security features in place were some important hygiene factors that were considered by the respondents for choosing CoinDCX as their preferred exchange. <div type="ExtQuote" text="We are delighted that our brand CoinDCX has the highest recall in the crypto industry. Our education-led content is designed to help the masses easily learn about the fundamentals of crypto assets with an aim to strengthen our faith in India’s financial inclusion" auname="Ramalingam S, Head of Brand, Marketing &amp; Communications at CoinDCX said."></div> The research stated that the exchange is ‘user-friendly platform’, has ‘ease of withdrawing money, ' with ‘the best referral programme’. This was followed by other leading exchanges worldwide. CoinDCX has higher recognition in the East zone among crypto users. The research indicates 98% of respondents from East India are aware of CoinDCX. Total of 60% of respondents from the East have used it in the last one year. Moreover, the research indicated that the consideration for CoinDCX as a brand is 79% among female crypto users as compared to 67% among male crypto users. “However, the lack of credible information and jargon associated with investments makes them reluctant to invest,” said CoinDCX. The research stated that online channels such as websites, internet searches, influencers, and content creators on social media played key roles for the brand outreach among crypto users. While newspapers, online articles, and stories are the key drivers among non-crypto users, referrals from friends and family helped gain further trust. CoinDCX is backed by investors such as Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, <keyword id="684670" type="General" weightage="50" keywordseo="bain-capital-ventures" source="Orion">Bain Capital Ventures</keyword>, Cadenza, Draper Dragon, Republic, Kindred, and <keyword id="6409882" type="General" weightage="50" keywordseo="coinbase-ventures" source="Orion">Coinbase Ventures</keyword>. Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

74% of non-crypto users are aware of CoinDCX being India’s leading crypto exchange, reveals survey

<ul class="summary-list"><li>Rohan Bhide always knew he wanted to be an entrepreneur.</li><li>He worked at Meta right after his 2018 graduation.</li></ul>This as-told-to essay is based on a conversation with Rohan Bhide, who moved from New York to Pune, India in 2024 to launch his startup. It has been edited for length and clarity. Business Insider has verified his employment history.I always knew I wanted to build something of my own.I came up with my first idea in my second year of college, when I was studying overseas at the University of Pennsylvania. During a trip back home to India, I built a version of a learning management system and reached out to schools to try to get them to adopt it.It didn't work out, but I learned an important lesson about myself. I realized that I loved how <a target="_blank" class="" href="https://www.businessinsider.com/why-everyone-in-tech-talking-founder-mode-paul-graham-chesky-2024-9">founders end up wearing so many hats</a>. You're not just an engineer or a product designer, but you're also a content creator, lawyer, and accountant.That drove every single other career decision I made in my professional career.<h2 id="4f8c8e65-9eb7-42ad-afb1-519b1bff5078">Step 1: Take a job with Meta</h2>I'm a risk-averse person, and launching a business straight out of college didn't feel like an option. So I started preparing to be a founder and collecting experiences that would help down the line.Even early on, I was sure I wanted to work on building consumer products. When it was time to look for jobs, I only <a target="_blank" class="" href="https://www.businessinsider.com/resume-tips-google-software-engineer-skills-experience-careers-software-tech-2024-3">applied to Meta and Google</a>, companies well known for developing products for the masses.I <a target="_blank" class="" href="https://www.businessinsider.com/how-to-write-big-tech-resume-google-meta-product-manager-2024-6">interned with Meta</a> and landed a full time role at the company after graduating in 2018. The offer was a huge deal for me, and I remember calling my parents back home to share the news right away.My family knew my long-term goal was to work for myself, and they worried that the years would pass and I would never leave Big Tech and its comforts.At Meta, I was careful to select projects that would enable me to become a jack of all trades. I was taking on projects where I could work across several different domains instead of specializing in computer vision or machine learning, for example. I earned a reputation for being an engineer that could get things out the door — whether it was by learning the technology myself or by putting together other engineers for the project.<h2 id="5a48931f-43ad-49e7-9b5a-c1c1087c0cbc">Step 2: Quit Meta to see how startups work</h2>After four years at Meta, I understood that big companies have a way of pigeonholing employees into one role, and I felt like my learning had stagnated.I quit Meta in 2022 and moved to the ticketing platform StubHub, a smaller company. I had an engineering role there, too, but I was also tasked with cross-functional roles like product management and data analysis. I learned how startups had to iterate quickly and work with limited resources. It gave me my first experience leading a team, which I really enjoyed.Besides gaining technical skills, I was also saving so that I could eventually bootstrap my own company. After work, I took online courses to learn accounting and finance and spent time with my brothers, who have experience in management and venture capital.<h2 id="4fb93422-62bd-4fb5-8c57-a5dc6210ae62">Step 3: Moving to India</h2>Living in the US, launching a startup in Silicon Valley felt like an obvious choice, but I was more <a target="_blank" class="" href="https://www.businessinsider.com/india-vc-wants-see-5-traits-new-founders-fundraising-antler-2024-8">excited about business prospects back home in India</a>. Internet adoption had skyrocketed since I left in 2014; the population size made it a hotbed for a consumer tech product; and government initiatives like an instant payments system and acceptance toward greater tech adoption made doing business a lot easier. I knew that if I were to set up my own business, it would be for the Indian market.I finally made the call to move home last year after my fiancée proposed to me. We knew we wanted to settle down in India, and our wedding next year became a deadline to get the ball rolling. We decided I would return first, and I quit my job at StubHub and moved back in January this year.My friends had bets on whether I would ever leave the US or a salaried job, and I managed to shock them and collect some money when I announced my decision to quit.I left behind $580,000 in total compensation at the company.<div type="image" title="Two startup founders standing in front of a background with a world map." height="1869" width="2491" msid="113444544" hostid="261" sizebytes="307874"></div>Since then, I have brought on a cofounder, a high school friend who also moved back from the US a couple of years ago. We are working on launching a consumer tech product in the next few months.I love being back, especially because it means being close to my family and my culture again. There are challenges, too — I've had to get used to driving on India's busy roads.Even though I'm glad to be back in India, I definitely think the US is my second home now. I was visiting my fiancée in New York this summer and felt a bit sad when I got on a plane back to India. It's a strange situation, because I always felt upset every time I got on a plane to the US over the years.Are you a startup founder and have a story to share about your unique career journey? Please reach out at shubhangigoel@insider.com

I always knew I wanted to launch a startup in India — so I made 2 key career moves in the US first to minimize the risks     

<ul><li><keyword id="15491" type="General" weightage="100" keywordseo="airtel" source="Orion">Airtel</keyword> has formed a joint venture with <keyword id="340671" type="General" weightage="80" keywordseo="hughes" source="Orion">Hughes</keyword> Communications India Pvt Ltd.</li><li>The entity will offer broadband satellite service in the country.</li><li>Hughes holds 67% stake and Airtel holds 33% stake in the entity.</li></ul>Indian telecom provider Airtel has entered into a joint venture (JV) with Hughes Communications India Pvt Ltd (HCIPL), a provider of broadband satellite networks and services to offer <keyword id="745397" type="General" weightage="20" keywordseo="satellite-broadband" source="Orion">satellite broadband</keyword> services in India. Hughes will hold a 67% stake in the JV and Sunil Mittal-led Airtel will hold a 33% stake. The entity will be known as HCIPL and will combine the Very Small Aperture Terminal (VSAT) business of both the companies, allowing them to offer scalable enterprise networking solutions. <cmsannotation type="cmsannotation" annotationid="What is a VSAT terminal?" comment="subhead" text="What is a VSAT terminal?">What is a VSAT terminal?</cmsannotation> A VSAT terminal is a two-way satellite ground station that is used to transmit and receive data. It is used to provide satellite-based internet and telecom access to individuals and enterprise customers. “We are pleased to commence this joint venture, further delivering on our commitment to serving the growing demand for always-on, always-available network connectivity for enterprise and government customers,” said Partho Banerjee, president, and managing director, HCIPL. The agreement was announced in May 2019 and has finally received statutory approvals, including an approval from the National Company Law Tribunal and the Department of Telecom. The JV has a combined base of over 2 lakh VSATs, making it the largest satellite service operator in the country. This comes at a time when Starlink, Elon Musk’s satellite internet service has received its first <a href="https://www.businessinsider.in/business/telecom/news/elon-musks-starlink-faces-its-first-setback-in-india-even-before-launch/articleshow/88702976.cms">setback</a> in the country after its country director and chairman of the board, Sanjay Bhargava, stepped down citing personal reasons. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/elon-musks-starlink-faces-its-first-setback-in-india-even-before-launch/articleshow/88702976.cms">Elon Musk’s Starlink faces its first setback in India even before launch</a> <a href="https://www.businessinsider.in/science/space/news/scientists-piggybacking-on-starlink-satellites-to-break-free-from-gps-dependence/articleshow/86607657.cms">Scientists are piggybacking on internet satellites to break free from GPS dependence</a> <a href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a>

Airtel and Hughes form joint venture, will offer satellite broadband service in India

<ul><li>Mukesh Ambani-owned Reliance Jio has formed a joint venture with Luxembourg based SES.</li><li>Sunil Mittal-owned Airtel has entered into a JV with Hughes Communications.</li><li>The Tata Group is reportedly in talks with Telesat’s Lightspeed brand.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul><keyword id="6355315" type="General" weightage="20" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>’s <a href="https://www.businessinsider.in/business/telecom/news/elon-musks-starlink-faces-its-first-setback-in-india-even-before-launch/articleshow/88702976.cms">Starlink</a> has also been trying to enter the Indian market but was asked to refund the pre-orders that it had accepted as the company has not secured a license to operate in the second largest telecom market in the world. In the meantime, India’s biggest billionaires like <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> and <keyword id="6358599" type="General" weightage="20" keywordseo="sunil-mittal" source="Orion">Sunil Mittal</keyword> have found their respective partners to launch their own satellite broadband services. Reliance Jio, owned by Ambani, has formed a joint venture (JV) with SES, a satellite-based content and connectivity solutions provider from Luxembourg. In January this year, Airtel had announced a JV with Hughes Communications to offer satellite-based broadband services in the country. Nelco, an arm of the multi-billion dollar Tata Group, is also <a href="https://www.businessinsider.in/tech/news/tata-group-to-offer-satellite-broadband-services-in-india-through-telesats-lightspeed-brand/articleshow/85200846.cms">reportedly </a>in talks with Canadian firm Telesat’s Lightspeed brand to offer satellite broadband services in the country by 2024. Another player that is looking to enter the satellite-based broadband services market in India is <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/amazon-eyeing-satellite-broadband-space-in-india/articleshow/83134040.cms?from=mdr">Amazon</a> as part of Project Kruiper satellite constellation. <cmsannotation type="cmsannotation" annotationid="What is satellite broadband?" comment="subhead" text="What is satellite broadband?">What is satellite broadband?</cmsannotation> Satellite broadband uses satellites orbiting the earth to provide internet services to people using a dish. Unlike traditional broadband services, satellite broadband does not require users to get a wired connection from the operators. This becomes useful especially in those areas that do not have broadband infrastructure such as rural areas. Satellite broadband also helps in tracking vehicles, generating alerts for natural disasters, and in remotely managing power grids to name a few use cases. Satellite broadband services are already available in countries like the US and UK. Elon Musk’s Starlink is currently testing its services in 25 countries, including the US, UK, Canada and France among others. In addition to Starlink, the UK also has other players such as OneWeb, which is partially owned by Airtel. In November 2021, the Telecom Regulatory Authority of India (TRAI) had issued a consultation paper on establishing a licensing framework for satellite gateways which are required to offer broadband services using satellites. The paper had sought suggestions on license fee, entry fee, bank guarantees and other information such as operational charges. Jio Satellite Communications, Jio’s satellite unit had <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/reliance-jio-arm-applies-for-satellite-communication-services-licence/articleshow/89462073.cms">applied</a> for a global mobile personal communication by satellite services (GMPCS) license to offer satellite-based broadband services in India earlier this month. Airtel’s OneWeb, had also <a href="https://telecomtalk.info/oneweb-licence-satellite-broadband-services-in-india/457652/">applied</a> for a GMPCS license in 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-xstream-premium-streaming-service-launched-in-india/articleshow/89474095.cms">Airtel Xstream Premium streaming service launched in India, priced at ₹149 per month</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-and-hughes-form-joint-venture-will-offer-satellite-broadband-service-in-india/articleshow/88705316.cms">Airtel and Hughes form joint venture, will offer satellite broadband service in India</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musks-starlink-faces-its-first-setback-in-india-even-before-launch/articleshow/88702976.cms">Elon Musk’s Starlink faces its first setback in India even before launch</a>

India’s richest billionaires are fast catching up while Elon Musk struggles for satellite broadband licence

The low Earth orbit (<keyword id="91911" type="General" weightage="80" keywordseo="leo" source="Orion">LEO</keyword>) satellite communications company <keyword id="2686914" type="General" weightage="100" keywordseo="oneweb" source="Orion">OneWeb</keyword> on Thursday announced a six-year agreement with <keyword id="340671" type="General" weightage="80" keywordseo="hughes" source="Orion">Hughes</keyword> Network Systems to provide LEO connectivity services across India. Hughes is an innovator in satellite and multi-transport technologies and networks and part of Hughes Communications India (HCIPL), a joint venture between Hughes and <keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>. As part of the agreement, OneWeb will connect towns, villages, and local and regional municipalities in hardest-to-reach areas, playing a critical role in bridging the digital divide. OneWeb will also invest in setting up enabling infrastructure such as Gateways and point of presence in India to light up the services, the company said in a statement. "This announcement marks a turning point for <keyword id="1929810" type="General" weightage="20" keywordseo="digital-india" source="Orion">Digital India</keyword>. Enterprise and government customers, including telecom service providers, banks, factories, schools, defense organisations, domestic airlines, and offshore vessel operators, are eagerly anticipating the arrival of new high performing satcom services," Partho Banerjee, president and managing director, HCIPL, said in the statement. Service offerings under this agreement are subject to all appropriate regulatory approvals and licenses, the companies said. "OneWeb's constellation will cover the length and breadth of India, from Ladakh to Kanyakumari and from Gujarat to the Northeast and bring secure solutions to enterprises, governments, telcos, airline companies and maritime customers," said Neil Masterson, CEO, OneWeb. OneWeb's most recent satellite launch on 27 December 2021 brought its total in-orbit satellites to 394, over 60 per cent of the planned 648 LEO satellite fleet. It plans to commence global service by the end of 2022 as demand continues from telecommunications providers, aviation and maritime markets, ISPs, and governments worldwide for its low-latency, high-speed connectivity services. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-and-hughes-form-joint-venture-will-offer-satellite-broadband-service-in-india/articleshow/88705316.cms">Airtel and Hughes form joint venture, will offer satellite broadband service in India</a> <a href="https://www.businessinsider.in/business/telecom/news/government-owning-vodafone-idea-is-just-half-the-task-the-other-half-is-to-find-the-money/articleshow/88836355.cms">Government owning Vodafone Idea is just half the task – the other half is to find the money</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musks-starlink-faces-its-first-setback-in-india-even-before-launch/articleshow/88702976.cms">Elon Musk’s Starlink faces its first setback in India even before launch</a>

Airtel's OneWeb and Hughes team up to bring satellite internet connectivity to India

<ul class="summary-list"><li>In an exclusive interview with Insider, "<keyword id="11938288" type="UNKNOWN" weightage="60" keywordseo="shark-tank" source="Orion">Shark Tank</keyword>" investor <keyword id="12002052" type="UNKNOWN" weightage="60" keywordseo="kevin-oleary" source="Orion">Kevin O'Leary</keyword> explained his strategy for investing in the nascent digital landscape. </li><li>O'Leary said he applies his decades of experience as an index and stock investor to his <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> and <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword> portfolio. </li></ul>Venture capitalist and "Shark Tank" star Kevin O'Leary — also known as Mr. Wonderful — casts a wide net for his cryptocurrency and <keyword id="12461337" type="UNKNOWN" weightage="60" keywordseo="web3" source="Orion">Web3</keyword> investments, with each bet based on his decades of experience as a financial services pro and index investor.As there are currently 11 sectors of the S&amp;P 500, most experts typically advise putting no more than 20% in any one sector, and no more than 5% in any one stock.O'Leary applies that strategy to his crypto portfolio and predicts crypto, blockchain, and innovative financial services will become the S&amp;P 500's 12th sector within a decade. Now, he holds 32 positions in the digital asset sector, including solana, bitcoin, and blockchain firm Polygon. No single position takes up more than 5% of the allotted 20%, he explained."Bitcoin is not a coin, it's a software," O'Leary told Insider. And the same goes for other tokens like ethereum, helium, and solana, he noted."If you believe there's long-term economic value in software, then you can give it a 5% weighting within your operating mandate. My larger positions are ones I think look like a great economic proposition."<h2>Into the metaverse</h2>This approach applies to investing more broadly in Web3, which is the concept for the next iteration of the internet that is based on blockchain technology and more decentralized.O'Leary urges heavy diversification "because you have no idea what's going to work." Just one or two winners out of 10 positions can pay for all the losers, he added.When considering whether to invest in a company, especially those in the nascent Web3 space, O'Leary first determines what problem is being solved, and whether that problem holds economic value. "What are you doing to make something less expensive, faster, better, more transparent, auditable? All these metrics should have a weighting to them," O'Leary said. "If you can't see the economic value in something, in the long run it probably won't survive."That goes for his investment in <a href="https://news.bitcoin.com/polygon-raises-450-million-from-sequoia-capital-india-softbank-shark-tanks-kevin-oleary/">Polygon</a>, which recently raised $450 million in a funding round that included participation from O'Leary as well as Sequoia Capital India, Tiger Global, and Galaxy Digital. He is confident in backing the blockchain protocol because it's focused on reducing gas fees for transactions, which O'Leary sees as a strong economic benefit.Meanwhile, the venture capitalist said he hasn't yet bought any metaverse property, as he's waiting to see whether a curated metaverse or uncurated metaverse emerges as the leader.More curated metaverse locations, O'Leary explained, will be highly sought after places for economic transactions and advertising for big brands. Uncurated metaverse locations, however, will likely have less attractive businesses such as virtual pawn shops or smoke shops, and lesser known brands.When the time comes, O'Leary expects to look for a location among other companies that align with his own vision. "I would probably put something like my wine business in the curated metaverse first, and I would advertise there and provide tokens for transactions, as long as it's a place where I feel safe for my brand."

Shark Tank's Kevin O'Leary breaks down his crypto portfolio and explains how his metaverse bets are based on the economics of Web3

Bengaluru, Manufacturing platform <keyword id="7466761" type="UNKNOWN" weightage="20" keywordseo="zetwerk">Zetwerk</keyword> has raised $120 million (nearly ₹880 crore) in its Series D round led by US-based <keyword id="2779666" type="PERSON" weightage="20" keywordseo="Greenoaks-Capital">Greenoaks Capital</keyword> and <keyword id="455799" type="COMPANY" weightage="20" keywordseo="Lightspeed-Venture-Partners">Lightspeed Venture Partners</keyword>. <keyword id="136147" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital-India">Sequoia Capital India</keyword> and Kae Capital also participated in the round, Zetwerk said on Tuesday. This Series D round comes after the company's $21 million Series C round in July 2020, bringing the total equity capital raised by the company to $193 million. "The <keyword id="6651103" type="UNKNOWN" weightage="20" keywordseo="Global-manufacturing-industry">global manufacturing industry</keyword> has had to swiftly adjust to the new normal, and digital solutions have become essential. Zetwerk accelerates this digital transformation with state-of-the-art productivity tools and remote project management," Amrit Acharya, Co-founder &amp; CEO, Zetwerk, said in a statement. "2021 will see further pace of growth as companies seek to diversify their procurement to minimise disruptions and become more agile and resilient." Zetwerk was founded in 2018 by <keyword id="6386086" type="COMPANY" weightage="20" keywordseo="Indian-Institutes-of-Technology">Indian Institutes of Technology</keyword> (IIT) alumni Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary with the aim of making it the go-to platform for the global manufacturing industry. It runs business-to-business marketplace for manufacturing parts. The platform is increasingly being adopted globally, with the company growing 3X year-on-year in 2020, despite the impact of the Covid-19 pandemic, said Bengaluru-based Zetwerk. Zetwerk is modernising the manufacturing industry using proprietary technology and project management techniques. Since its founding, Zetwerk has forged deep partnerships in three key segments - precision parts, capital goods and consumer goods, serving a diverse range of product categories including prefabricated structures for infrastructure projects, sheet metal parts for electric vehicles, precision parts for aerospace, assembly lines for consumer durables, etc. With this fundraising, Zetwerk said it will further strengthen its technology and continue its expansion into new categories and regions. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/home-first-finance-company-ipo-lists-at-618-19-premium-over-the-issue-price/articleshow/80662539.cms">Warburg Pincus-backed Home First Finance Company IPO lists at 19% premium over the issue price</a> <a href="https://www.businessinsider.in/tech/enterprise/news/indias-principal-economic-advisor-says-the-real-monopoly-to-be-worried-about-is-in-search-internet-and-social-media/articleshow/80663403.cms">INTERVIEW: Google and Facebook ahoy! India’s Principal Economic Advisor says the real monopoly to be worried about is in search, internet and social media</a> <a href="https://www.businessinsider.in/science/space/news/budget-2021-22-prioritises-gaganyaan-indias-human-spaceflight-mission-over-all-others-heres-why/articleshow/80663272.cms">Budget 2021-22 prioritises Gaganyaan, India’s human spaceflight mission, over all others — here’s why</a>

Zetwerk raises $120 million from Greenoaks Capital and Lightspeed Venture Partners

<ul><li>The <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> judge says gatekeepers of the app ecosystem – Apple and <keyword id="19902762" type="General" weightage="20" keywordseo="google" source="keywords">Google</keyword> – are the new East India Company and they operate with complete arrogance and impunity.</li><li>Just as startup founders are coming under pressure, venture capitalists and auditors too need to be held accountable for their behaviour.</li><li><keyword id="20225195" type="General" weightage="20" keywordseo="shark-tank" source="keywords">Shark Tank</keyword> India has become a catalyst for driving entrepreneurship and giving it legitimacy. </li></ul> <keyword id="127971" type="General" weightage="100" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> is India’s original internet entrepreneur, who is the founder and CEO of People Group. Way before platform economy became a buzzword, Mittal built a platform for Indians seeking life partners. And even today one million Indians find their partners on shaadi.com every year. Call him the OG of startups or a serial entrepreneur, he is a man who does not mince words. In a free wheeling chat with Business Insider’s Malini Bhupta, Mittal talks about unfair trade practices of Google, his investment in Ola’s Bhavish Aggarwal and what he thinks is the biggest achievement of Shark Tank India. Edited Excerpts: With some high profile startups like Paytm and Byju’s coming under lens, what do you think is wrong with the startup ecosystem? I think the Paytm issue is a little different. There are two issues there in my view – one is valuation. The company came out with its IPO at the height of the unicorn boom and as a result, their valuation was corrected when the pvt. market corrected. This is part of the pricing game and one can hardly blame them for it. Eventually, they would have grown into their valuation is what I believe. However, the second issue which is regulatory in nature is far more serious. Whether it is justified or not I don’t know. I think there is a little heavy-handedness here as what you are talking about is a payments bank KYC stuff being the reason to shut them down, which could be seen as over-reach since they are not a significantly important lending institution. Talking about what is wrong with India’s ecosystem and why founders are behaving badly is a common issue that occurs when there are high levels of greed. When there is massive liquidity in the system people think they can take advantage of the situation. In the US you have seen Theranos, crypto frauds and an industry that was created around SPACs. Billions of dollars have been lost on that. What is happening in India is a small reflection of that. Greed manifests in two ways – one is the founders who are ambitious who see the ecosystem celebrating unicorns and that gets weaponised. Over time a few start with minor refractions and very soon they start fabricating revenues and manipulating auditors to keep up with the image that has been created. They are riding tigers they can't get off. The venture capitalists too want to see their investments being marked up as their future fund raises depend on the portfolio's net asset value and so they play along and at times actually drive the founders at a velocity that is unsustainable. I think they need to be held accountable by their LPs. Auditors have a very important role here and are perhaps the ones who need to pay the highest price through government censures. They are market participants who have been entrusted with a certain job for which they get paid hefty fees. When they start looking the other way, the system breaks. You have been waging a pitched battle against the unfair trade practices of Big Tech companies in India. What, in your view, are the steps that need to be taken by the government to prevent such unfair practices by large global players? Fundamentally the experience of the internet is through apps – two companies control the entire app ecosystem Google and Apple. Both operate with complete impunity. Two years ago the CCI passed an order against Google around <keyword id="963171" type="General" weightage="20" keywordseo="google-play" source="Orion">Google Play</keyword> Billing System (GPBS). Now they have changed the name to User Choice Billing. If you look at the order CCI says there will be no discrimination at all. Being on the App Store means nothing unless you advertise on Play Store. Startups spend anywhere between 10-50% of revenue on advertising on these platforms already. Essentially, the app store is worth nothing if you don’t have content. What choice does a company have but to adhere to their unfair practices… Now they say that any transaction that happens on apps downloaded via the store will be subject to 15-30% tax/commissions. What this means is that they want 50% of the revenues of the startups. It is the new East India Company and they operate with complete arrogance and impunity. The problem is in getting these companies to comply. Their strategy is to stretch out the legal process and tire the system. Our government and regulators have the right intent but sometimes democracies are messy. As a government, we have to ensure that nobody becomes the gatekeeper to our economy which is what these companies are trying to do. There should be penal provisions for anybody who abuses the law or twists and turns it while violating the very spirit of it. Non-compliance with judicial orders is contempt of court and so there is an opportunity to send a very strong message. These bullies need one arm chopped off in the form of penalties, a rap on the knuckles will not work as they are too big to care about a couple of hundred million in penalties. What is the biggest achievement of Shark Tank, which has now become a huge hit in India? In life timing is everything. Shark Tank’s first season was in December 2021, which was the peak of the startup hype cycle, and it demystified the whole conversation around startups and funding. Shark Tank has become a catalyst for driving entrepreneurship and giving it legitimacy. India is a land of entrepreneurs with every second person running some small business, many from home. A decade ago, if you told someone you are an entrepreneur, you would be told to come back when you get serious. The show has played an amazing role in celebrating entrepreneurship and the startup ecosystem. A lot of companies have done very well. About 8-10 companies that got funded in Shark Tank are doing very well out of 180 companies that came to the show. This is an early stage game and will play out the same way. When you invest in 100 early stage companies, 4-5 will do very well and help recover the investments and some will become very big. A majority will fail. What I found amazing was that the companies that came to the show were not the elites who came from IIT or IIM. These are small businesses founded by housewives and family members. Entrepreneurship is not the reserve of the few. The next decade will be defined by Indian entrepreneurs globally and so there is no better time to be an entrepreneur than now. Shark Tank has put belief in every Indian that they can do it and that changes the game. Many of the founders that come to Shark Tank can do even better than the founders who have come from an IIT or an IIM. I believe that these people understand commerce and ‘dhandha’. The elitist founders are used to being served everything on a platter. Many professionals who come out of large companies or consulting firms cannot start without large funding. Out of the 100 unicorns we have, many will spectacularly fail in 2024 as they were built on the wrong foundations. These companies were built on a template of Ivy League founders and old school networks and so they got funded. Of the businesses that come to Shark Tank, what sectors can do well and stand a better chance of being funded? Indians now have the same aspirations as people in other parts of the world. Anybody who comes in and can bridge the gap between aspiration and affordability will do well especially in lifestyle. For example - Companies in the clothing and jewellery space will do well if they can deliver high aspiration at a value pricing. Last year a company called Snitch came with a revenue of Rs 60 crore and is now doing Rs 250 crore in sales. A company called Skippy, which makes ice pops was funded on Shark Tank too and has a run rate of Rs 50 crore from a few lakhs before ST. I funded a company called Sharmaji Ka Atta which has a revenue run rate of Rs 20 lakh a month in less than 12 months from less than 1 lakh. Another one called Whatsapp Wellness just got funded by HUL. Fundamentally, companies that can build premium products but don’t break the bank on affordability in categories like fashion, lifestyle and food will do well. People read labels now and the young generation is focused on what they are eating. Beauty and wellness products will do well as a secular trend for most of our history Lakme meant beauty, that’s how unbranded we were. Do you feel Shaadi.com is still relevant after Tinder and other dating apps came about? Let’s understand why Tinder is used, it is for hookups and is struggling to grow its revenue in India. Shaadi.com is not an arranged marriage platform. Shaadi.com is a planned marriage platform. Indian culture has four stages of life and marriage is one of the life stages. When you are planning to marry you look for compatibility and it is not about a chemical reaction. On Shaadi.com the family and parents collaborate to find a partner. The old community networks are now dying and we replace those networks. We are bringing together people in the same life stage to find a like-minded partner. The hook-up sites don’t do that and don't understand the Indian ethos. They are applying the same global model to India which does not work beyond a certain point. You were the original internet entrepreneur with a disruptive product. Why did you not create a large business that went on to become a decacorn or a unicorn? It depends on how you define success. If the definition is labels such as decacorn and unicorn, then that's not the game we are playing. Those are vanity labels that I would rather not pursue. Our definition of success is value creation and we are long-term compounders, much like Berkshire &amp; LVMH, so in a sense our ‘overnight’ success story is still waiting to become obvious to the world. From that lens, our ROCE is perhaps the best in the industry we have only ever raised about $20 mn but created several billion in value between our operated and invested cos. Our investee companies employ thousands, have raised over $20 bn and will go on to create $100 bn in value over time, in the bargain generating tremendous wealth for the country and hopefully for us too. We boast an IRR of 52% consistently for more than a decade which is extraordinary by any standards and a testament to our approach and story. Many people build businesses but we were fortunate to create entire industries such as online matchmaking via Shaadi.com, which we still run; proptech company Makaan.com which we sold to NewsCorp very handsomely; India’s first &amp; still the largest digital ad agency, Interactive Avenues, which we sold to IPG at a benchmark price that is yet to be crossed; India’s first mobile gaming company, Mauj Mobile which spawned a massive industry. So, whether it is our customers, employees, shareholders, the country or society at large, I think we have already impacted 10s of millions and while we don’t have a market listed entity like Jio or TCS to show for it, we have delivered massive national and global level impact. Keep in mind that we are most often the first to check into investee cost and every company we have founded has been the first in its industry. Our innovations have generated billions of dollars in wealth and given rise to innumerable founders and entrepreneurs who have learnt at our companies and gone on to build massive companies of their own. Further, I am still very young and the Indian opportunity is only now unfolding. In the next couple of years, you will see some of our other bets in space exploration, mobility real edtech, &amp; sustainable fintech come into the limelight besides something very special we are building on our own. So, in short, I still remain the OG and if you force me to use your labels we have birthed not one or two but several Unicorns &amp; Decacorns and that too with very limited capital. It is perhaps one of the most spectacular untold stories of value creation in the digital economy. Ola is one company that is headed for an IPO and you own 2% in the company. How did that happen? When we invested in Ola, there was not much of a concept of venture funding and the company did not have any suitors so we were able to get in at a very attractive valuation and hold an extremely healthy minority stake which obviously has been diluted over time. I think the network effects are so large that it is hard for others to get into it. I am still a shareholder and looking forward to the initial public offering. I invested in 2012 and when I met Bhavish first, I did not understand the problem he was solving as I live in Mumbai where cabs are available. So I did not think there was a problem. A few days later when I was in Delhi and needed a cab, I was told that they would call a taxi stand. After I came back from Delhi, I realised there was a problem everywhere. And I used to call the call centre and Bhavish used to answer the call centre, which showed me his commitment and reminded me of myself when I had started and so I invested.

You Searched For "Internet ventures India" and got 10 results

Dubai-based siblings to transfer jiohotstar.com domain to Reliance 'free of cost'

PTI

Some techies are leaving cushy Silicon Valley jobs to launch startups at home in India

Shubhangi Goel,Charissa Cheong

74% of non-crypto users are aware of CoinDCX being India’s leading crypto exchange, reveals survey

Insider Studios

I always knew I wanted to launch a startup in India — so I made 2 key career moves in the US first to minimize the risks

Shubhangi Goel

Airtel and Hughes form joint venture, will offer satellite broadband service in India

Rounak Jain

India’s richest billionaires are fast catching up while Elon Musk struggles for satellite broadband licence

Rounak Jain

Airtel's OneWeb and Hughes team up to bring satellite internet connectivity to India

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