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Indian start-up companies are looking at 'reverse flipping' - not a cricket terminology - with easy access to capital from private equity and venture capitals, changes in rules regarding round tripping, and the growing maturity of India's capital markets, states the Economic Survey 2022-23. The Survey was tabled in the Parliament on Tuesday. According to the Indian government the above measures have not only slowed down 'Flipping' but companies are also exploring 'Reverse Flipping'. Well, 'Flipping' and 'Reverse Flipping' are not cricket shots. The survey said many Indian companies have been getting headquartered overseas, especially in destinations with favourable legal environments and taxation policies. The technical jargon for this may be identified as 'Flipping', which is the process of transferring the entire ownership of an Indian company to an overseas entity, accompanied by a transfer of all intellectual property rights and all data hitherto owned by the Indian company. "It (flipping) effectively transforms an Indian company into a 100 per cent subsidiary of a foreign entity, with the founders and investors retaining the same ownership via the foreign entity, having swapped all shares," the survey notes. Typically, "Flipping" happens at the early stage of the start-ups, driven by commercial, taxation and personal preferences of founders and investors. Some companies decide to "Flip" because the major market of their product is offshore. Sometimes, investor preferences like access to incubators drive the companies to "Flip" as they insist on a particular domicile. Some companies prefer to domicile in countries where they would like to access Capital Market later for better valuations and ticket size. Better protection and enforcement of IP and tax treatment of Licensing revenue from IP, residential status of Founders, and agile corporate structures have been the reasons for "Flipping" in the past. "Many investors/private equity (PE) funds are based in the US and other places. They also exert pressure on the Indian startup entrepreneurs to move out of India and house their IPRs overseas," an entrepreneur had told IANS preferring anonymity. "Technology companies, primarily B2B, software as a service (SaaS) players and deep tech businesses tend to move out to the US and some towards Singapore. The reason they start in India to begin with is the entrepreneurial talent, active investing ecosystem, solid tech employees and most importantly the ability to develop and run pilots at competitive costs," Sarath <keyword id="293733" type="General" weightage="80" keywordseo="naru" source="Orion">Naru</keyword>, <keyword id="191679" type="General" weightage="80" keywordseo="managing-partner" source="Orion">Managing Partner</keyword>, Ventureast, one of the long standing venture capital firms in India had told IANS. According to Naru, the primary reason for them to move out is to be near their market. "Indian market tends to be small for these businesses and not economically viable to continue to invest in technology and be competitive against global players. The US and Southeast Asia offer large ready markets and it makes most economic and strategic sense to be close to the markets," Naru remarked. "Other than the IPR housing reason, investors like the tax regime in certain countries; lower income tax and capital gains taxes. This also attracts the startups to move and later the founders become Non-Resident Indians (NRI)," Kris Gopalakrishnan, Chairman, <keyword id="2602340" type="General" weightage="80" keywordseo="axilor-ventures" source="Orion">Axilor Ventures</keyword> told IANS. "Some of these governments give specific incentives like rent reimbursements, grants based on local employment etc. Further, the access to capital which does not invest in Indian companies. Finally, <keyword id="88599" type="General" weightage="80" keywordseo="sas" source="Orion">SAS</keyword> companies, especially enterprise SAS, move to the US/UK to be closer to the enterprise customers," Gopalakrishnan added. The Economic Survey said to accelerate 'Reverse Flipping', certain measures like the following are possible: i. Simplifying the process for grant of "Inter-Ministerial Board (IMB) certification" for Start-ups ii. Further simplification of taxation of Employee Stock Options (ESOPs) iii. Simplifying multiple layers of tax and uncertainty due to tax litigation iv. Simplifying procedures for capital flows: Many countries, such as US and Singapore, have easier corporate laws, with lesser restrictions on the inflow and outflow of capital and treatment of Hybrid Securities v. Facilitating improved collaboration and partnerships with established private entities to develop best practices and state-of-the-art start-up mentorship platforms vi. Exploring the incubation and funding landscape for start-ups in emerging fields like social innovation and impact investment. The flipping phenomenon mentioned above reflects start-ups venturing out for short-term gains in the dynamic, uncertain geopolitical world. However, the flip can be reversed with the collective action by the government related regulatory bodies and other stakeholders. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/in-a-major-clean-up-drive-bmc-sacks-55-staffers-for-corruption-suspends-134-for-graft-crimes/articleshow/97491919.cms">In a major clean-up drive, BMC sacks 55 staffers for corruption, suspends 134 for graft, crimes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/sc-suggest-nirav-modis-bro-in-law-to-give-letter-of-authority-to-cbi-to-access-offshore-bank-accounts/articleshow/97493054.cms">SC suggest Nirav Modi's bro-in-law to give letter of authority to CBI to access offshore bank accounts</a>

Indian start-ups are looking at reverse flipping says Economic Survey

<keyword id="6530028" type="PERSON" weightage="100" keywordseo="Kris-Gopalakrishnan">Kris Gopalakrishnan</keyword> is a name that pops up when you’re talking about start-ups and for all the right reasons. From consulting the government regarding startup policies to mentoring start-ups at Axilor Ventures, Kris does it all while working on his philanthropic endeavors. He also works closely as a chief mentor at <keyword id="1075613" type="UNKNOWN" weightage="20" keywordseo="Startup-Village">Startup Village</keyword>, a Kochi-based not-for-profit technology business incubator which launched in 2012 on a private-public-partnership (PPP) model involving the state government’s department of science and technology. In 2014, shortly after leaving <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> board, he started the Pratiksha Trust which is the <keyword id="9991" type="PERSON" weightage="20" keywordseo="Gopalakrishnan">Gopalakrishnan</keyword> family’s philanthropic foundation. 

 

 

 

 

 

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The fund granted $36 million to set up a Centre for Brain Research at IISc. For 10 years, the Centre will get support from the IISc’s Centre for Neuroscience to also get a chance to collaborate with hospitals to study the functioning of the brain and find cures for neurodegenerative diseases such as Alzheimer’s, Parkinson’s and schizophrenia. “I’m bullish about Brain Research as it is impertinent. Methods such as personalized medicine can have a significant impact in this field” says Gopalakrishnan. Kris Gopalakrishnan told Business Insider that he has been focusing on four sectors after leaving Infosys, “My areas of interests are Education, Entrepreneurship, Innovation and Research, not particularly in that order. I’m always working like most entrepreneurs,” says the zesty 62-year old. 

 

 

 

 

 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="58343343" title="Exclusive: K Ganesh&amp;#39;s Growth Story with Start-ups is Never-ending and Here’s the Next Chapter" rank="1.0" kind="RELATED" publishDate="Apr 24, 2017, 5:42 PM" mstype="2" mssubtype="0"></div></div>












From supporting 160 students through scholarships to creating policies with CII, Gopalakrishnan is a busy man uplifting people as he moves forward. Original Indian Innovation When it comes to entrepreneurship, Kris thinks that it can solve the country’s problems, “I think any small business incorporated under five years is a startup. If everyone become entrepreneurial, the problem unemployment and underemployment can be solved.” 

 

 

 

 

 

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From tea-shops to Kirana stores, every small business is adding the fuel to one of the world’s fastest growing economy. Gopalakrishnan also thinks that entrepreneurs should only be focused on serving more people, whether it comes to providing jobs or a service. “I expect to see more international innovation success stories from India in the next 30 years. This is just the beginning,” says the effervescent do-er in Gopalakrishnan.

Exclusive- Kris Gopalakrishnan, Infosys Founder and ex-CII President says that the Real Innovation Success in India will Come in the Next 30 Years

As <keyword id="34528" type="UNKNOWN" weightage="20" keywordseo="growth-rate">growth rate</keyword> slows down, Indian IT companies need to learn to manage expectations of their employees, says a senior industry figure as he pitched for retraining of staff, in the era of rapid technology transition. When growth rate slows down, one has to manage the expectations of the employees within the company, former CEO of Bengaluru-headquartered IT major, Infosys, <keyword id="6530028" type="PERSON" weightage="100" keywordseo="Kris-Gopalakrishnan">Kris Gopalakrishnan</keyword> said. "The number of promotions will come down because there are no openings at higher levels. So, you have to set expectations properly", he told PTI. Secondly, the former President of Confederation of Indian Industry said, technology is transitioning and, so, employees will have to be retrained. "One, the company must invest in retraining employees, and two, employees must invest time in learning. So, these are stressful situations for both employees as well as leadership in the companies", Gopalakrishnan said. Last month, Indian IT industry body <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">NASSCOM</keyword> projected software export growth in 2017-18 at 7-8 per cent in constant currency, down from 8.6 per cent in the previous fiscal. The industry would add 130,000-150,000 jobs in the current financial year, it had forecast. Gopalakrishnan, the Chairman of <keyword id="2602340" type="UNKNOWN" weightage="20" keywordseo="Axilor-Ventures">Axilor Ventures</keyword>, an early stage startup accelerator and venture fund, rejected suggestions that there is job-crisis in the Indian IT sector. "Even NASSCOM has projected this sector will add one lakh-plus jobs this year also. Yes, growth rate has come down, recruitment numbers are lower but it's still positive and the industry is still recruiting people", he said. Gopalakrishnan, however, said hiring is slowing down because growth rate has come down. "There have been some impact of <keyword id="24019" type="PERSON" weightage="20" keywordseo="automation">automation</keyword> on certain services. For example, infrastructure management services, maintenance services where automation has had an impact. Several tasks can be automated and those services will require less number of people. "Now these are services where the work is actually quite repetitive and in the long run, these tasks are better done by machines because they are repetitive", he said. Gopalakrishnan also shared his thoughts on opportunities and challenges for the industry in the coming decade, a period he said would be exciting for the sector as every industry is transitioning, and IT companies need to be "reimaginative" in helping such industries in the process. "It's quite exciting actually", he said. "Opportunities are huge, because this is the model that can continue to scale, and that's the reason why multinational corporations are setting up IT operations in India". "Long term, it's exciting because you (IT industry) are part of transitioning that's happening in every industry. It's driven by innovation, creativity and growth; all that is exciting", according to him. "Challenge is: there is change; change always bring with it the fear of the unknown, the ability to make the transition, and so that's what we are seeing today", said Gopalakrishnan.

Manage employee expectations, Kris Gopalakrishnan tells IT firms as growth slows

Backed by a strong profile of entrepreneurial professionals, a new centre for innovation and entrepreneurship in <keyword id="6356755" type="COMPANY" weightage="20" keywordseo="IIT-Madras">IIT Madras</keyword> - <keyword id="4057711" type="UNKNOWN" weightage="20" keywordseo="gopalakrishnan-deshpande-centre">Gopalakrishnan-Deshpande Centre</keyword> - will nurture three entrepreneurial initiatives every year by providing them all the assistance they need to turn their ideas into reality. 
 Three IIT Madras alumni — Jaishree Deshpande, her husband who is an Indian American venture capitalist Gururaj Deshpande and S. <keyword id="6530028" type="PERSON" weightage="20" keywordseo="Kris-Gopalakrishnan">Kris Gopalakrishnan</keyword> — have together launched this centre as a future hub for innovation and entrepreneurship. They will be funding $500,000 per year over the next 5 years. The centre will perform the role of an angel investor. Every program the centre seeds will ultimately run on its own if it turns successful. 
 
Bhaskar Ramamurthi, Director, IIT Madras, said that the Gopalakrishnan-Deshpande Centre was being created at the right time to give a big fillip to the entrepreneurial ecosystem in IIT. 
 Kris Gopalakrishnan, Chairman of <keyword id="2602340" type="UNKNOWN" weightage="20" keywordseo="Axilor-Ventures">Axilor Ventures</keyword>, said the innovation and entrepreneurship ecosystem at IIT Madras will be enhanced by the opportunity to learn from the global network of such centres. 
 
“Also, the research community will get the opportunity to collaborate with other researchers across the network, including market and funding access,” he said.

3 IIT Madras alumni will pump $5 million in their new innovation centre in campus to turn entrepreneurial ideas into reality

<ul><li><keyword id="6530028" type="UNKNOWN" weightage="20" keywordseo="kris-gopalakrishnan">Kris Gopalakrishnan</keyword>, co-founder of Infosys and Chairman of Axilor Ventures is betting on India’s <keyword id="675306" type="PERSON" weightage="20" keywordseo="Tech-startups">tech startups</keyword> to build on the opportunities during the coronavirus pandemic. </li><li>In an interaction with Sudhir Sethi of Chiratae Ventures, Gopalakrishnan said that Jio’s scoop of investments are just a reminder of India’s magnetic attraction for investments. </li><li>But the Indian venture and private equity capital has 95% to 96% traditionally been international capital and the need for domestic capital is now greater than ever. </li></ul>India has been hoping that the next <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> or <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> will be born on its soil. But what makes a company Indian will be the ownership and that is where investors have been penny wise and the regulations less than conducive. This is the grouse of Kris Gopalakrishnan, one of the seven founders of $40 billion Infosys. “We have to create Indian VC (venture capital) firms. We have to create Indian funds that are billion dollars or ten billion dollars. The wealth is there, you know, whatever data we have shows that you know, maybe two trillion to three trillion dollars of wealth is there in private hands in India. So some of that has to actually flow into this ecosystem,” Gopalakrishnan said. “You can directly invest, you can invest through funds you can invest fund of fund, in other various mechanisms that are available,” he added. In an conversation with Sudhir Sethi of Chiratae Ventures ⁠— which has placed bets on unicorns like FirstCry, Lenskart etc.-- Gopalakrishnan, who now runs the 6-year old Axilor Ventures, cited the slew of investments into Mukesh Ambani-owned Reliance Jio showed that foreign investors are looking beyond the COVID-19 crisis and the opportunities in India. <div type="image" title="BI212" msid="76243570" hostid="261"></div> “Google is looking at Vodafone, Microsoft is also looking at Jio. So this is enforcing the story that if you look beyond covid all the things that I talked about India being an attractive destination for talent innovation and markets, all of them are true and that nothing has changed during business we have just taken a temporary break,” said Gopalakrishnan, who invests ₹20 crore in startups every year and has over 100 companies in Axilor’s portfolio. The need for India and India’s needs The Indian government has used the <a href="https://www.businessinsider.in/india/news/pm-narendra-modi-announces-a-20-lakh-crore-financial-stimulus-for-a-self-reliant-india/articleshow/75700217.cms">stimulus</a> meant to fight COVID-19 crash as an opportunity to revive the ‘Make in India’ programme, which aims to boost local manufacturing. The Modi government hopes that companies that are now looking to move facilities out of China ⁠— partly due to the pandemic and partly due to escalating tensions between US and China ⁠— will want to move to India. The government may be hoping for too much too soon. “The changes in the physical space take more time than changes in the digital space,” Gopalakrishnan said, highlighting that immediate opportunities are in the tech sector⁠— from telecom giants like Jio, Vodafone, and Airtel to emerging startups. The space for more unicorns Gopalakrishnan believes that gives Indian startups have an edge over the bigger and older firms and that makes them attractive to both investors and the government. “In my discussions with the government offic ials, they said startups responded faster than established companies because they had less bureaucracy and less worries about you know, what impact it would have on the business etc,” he said, adding that India “will have a large number of unicorns,” and “significant investments coming into India to take advantage of the opportunity.” And some of this money should flow into research and development as well. "..you know less than 0.1% of private investment is going into R&amp;D in India,” he added. Waiting for foreign capital is a loss of opportunity Reliance Jio attracted six new investors in the last six weeks, and all of them were foreign. “Now the Indian venture and private equity capital has 95% to 96% traditionally been international capital… whereas in other countries it is more than fifty percent namely China and technically if you take Europe and the US it's all domestic capital anyway,” Sethi said. Gopalakrishnan couldn't agree more. “We need some of these companies to be owned by Indians, right so that you know, it's not just about ownership it's about the wealth creation effect of this right that's why I would encourage all Indian funds, family offices to look at a portion of their investable wealth to go to these class of assets, these startups,” he chimed in. Will the COVID-19 crisis help the cause or stall it? Kris Gopalakrishnan, one of the co-founders of India’s largest IT company Infosys, had become the CEO of the company in 2007, when it all looked rosy. Within a year of his tenure, he was hit with the financial crisis of 2008. But Gopalakrishnan and Infosys sailed through the crisis and emerged stronger. And now, when India is in the midst of another global crisis – the coronavirus pandemic – Gopalakrishnan believes it's just a temporary break from all the great things Indian companies have set out to achieve. SEE ALSO:<a href="https://www.businessinsider.in/transportation/news/evs-in-india-may-not-reduce-oil-dependency-or-low-carbon-emissions-hydrogen-fuel-may-be-better-answer/articleshow/76227728.cms">Oil dependency and carbon emissions — EVs may not be India’s answer to reducing either, say experts</a> <a href="https://www.businessinsider.in/business/news/mubadala-to-buy-1-85-pc-stake-in-jio-platforms-for-rs-9093-6-cr/articleshow/76205654.cms">Reliance Industries market value crosses ₹10 lakh crore thanks to Jio's deal with Mubadala</a>

Infosys co-founder explains how the next Google, Facebook or Amazon can be born out of India

Senapathy ‘Kris’ <keyword id="9991" type="PERSON" weightage="20" keywordseo="Gopalakrishnan">Gopalakrishnan</keyword> is a name that resonates with the growth of IT sector in India and the rise of <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>. ‘Kris’ as he is known popularly was the second last founder-CEO of the home-grown IT giant that spearheaded entrepreneurship in the field of digital transformation through internet technology. While Kris quit the company’s board in 2014, he is far from retired from work. As an ex-president of CII and also the non-executive chairman of Axilor ventures, he promotes start-ups because starting his own business with six other friends in 1981 changed his life. Gopalakrishnan talked to Business Insider about his early life which has made him who he is today.

 

 

 

 

 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="58182579" title="Exclusive: Mahesh Murthy thinks that the future of investing in India isn’t the current Venture Capital Model" rank="1.0" kind="RELATED" publishDate="Apr 14, 2017, 7:14 PM" mstype="2" mssubtype="0"></div></div> “I was brought up in a world with no internet or even computers, so my knowledge was limited to studies and I devoured books both while studying and in different libraries. I studied at the <keyword id="4469078" type="UNKNOWN" weightage="20" keywordseo="university-of-trivandrum">University of Trivandrum</keyword> and I remember cycling everywhere to get books or to attend classes. My parents encouraged my obsession and even though they wanted me to be a doctor, IIT-Madras happened, and they were encouraging,” Kris explains how he ended up at an IIT. Gopalakrishnan was stoked at the institute where they had the access to the best computers and the college was encouraging innovation at all levels. He recalls an incident where his professor caught him reading on a cycle. ” Professor Mahabala had started this new Fortran programming course that he knew I’d be interested in, and encouraged me to join. That course ignited my love for experimentation and I never looked back at anything else,” Kris says, fondly. 

 

 

 

 

 

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First Entrepreneurial Stint that Worked When it comes to work, Gopalakrishnan counts his stars and says that he was lucky to find people who supported him, no matter what. “I started working at Patni computers in Pune where I met Narayana Murthy. He wanted to start his own venture and asked me to come on board; I couldn’t refuse because I looked up to him as a senior,” Kris recollects. With a dream team and a great manager like Murthy on board, Gopalakrishnan was not worried about him starting up at a young age of 27. He agrees that he was scared to tell his family and when he got married the same year as the incorporation of the company, he waited till the wedding to make the announcement. Luckily, everyone was unfazed and Kris started the first sailing course on the entrepreneurship, smooth. 

 

 

 

 

 

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Starting up from just Rs. 10,000, Infosys is now worth billions and Gopalakrishnan thinks that it’s all because the company built its way up slowly without any external funding and just focus on the product that they believed would change people’s lives. It did fast track his life and now he’s helping people to let go of their training wheels.

Exclusive: Kris Gopalakrishnan Current Ace Investor and Infosys Founder Reflects Back on his Startup Days

<ul><li>Indian government has banned over 250 <keyword id="6022999" type="UNKNOWN" weightage="20" keywordseo="chinese-apps">Chinese apps</keyword> over the last year, due to the geopolitical crisis with the neighbouring country.</li><li>The ban on Chinese apps impacted the short video segment the most, as it found itself in a void with the absence of top two players in the segment.</li><li>While many alternatives have emerged to give a tough competition to <keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword>, any real competition to PUBG still does not exist.</li></ul>You can now find Vassundhara Pandita, a former TikTok creator, entertaining about 4.5 million users on <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>’s Sharechat-owned Moj app. Just like her, thousands of Indian creators have set their camps on different short video apps that came into existence in the past one year, after the government of India decided to ban <a href="https://www.businessinsider.in/tech/apps/news/checkout-the-name-of-the-chinese-banned-apps-in-india/articleshow/76696132.cms">59 Chinese apps</a> on this day (June 29). The banned apps not only included TikTok, the biggest short video platform in the world with a user base of 200+ million in India alone, but its alternatives Likee and Vigo as well. Vigo was owned by TikTok’s Chinese parent ByteDance that was supposed to be <a href="https://www.businessinsider.in/advertising/ad-tech/news/bytedance-shuts-down-vigo-video-in-india-to-focus-on-other-businesses/articleshow/76382018.cms">shut by October 2020</a> to direct users towards TikTok, but all these efforts were futile. This is how TikTok creators’ hunt began to find the perfect Indian alternative that would help them continue entertaining millions of users and keep the flow of income running. But the first priority on the list was to redirect their followers to other social media platforms, most popularly <keyword id="819905" type="LOCATION" weightage="20" keywordseo="Instagram">Instagram</keyword>. “I had to make short videos on my TikTok and YouTube [channels] to direct my followers to my Instagram handle,” says Vassundhara, who had more than five million followers on TikTok and goes by the username ‘@__vassundhara__’ on Instagram. As expected, Vassundhara and many other creators did lose their followers in this reshuffle, but thankfully finding the next stage turned out to be a little simpler. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">Indian digital businesses fill up TikTok void</h2> Well established digital businesses were already on to finding their way to dominate the Indian short video platform, which was suddenly left with a void with the exit of <a href="https://www.businessinsider.in/slideshows/top-ten-most-downloaded-apps-in-india/slidelist/72977234.cms">top two players </a>-- TikTok and Likee From Sharechat to Dailyhunt, MXPlayer, Gaana, Zee5, you name it and they were already set to launch their Made-In-India offering. A few months later, even YouTube and Instagram decided to grab on to this opportunity and launch their respective hypershots entertainment offering in India. So, the competition was on and it was a pretty hot one. But Indian platforms did fairly well for themselves in this highly competitive market. Just like TikTok, many of these Indian alternatives have set a monetisation practice in place for these creators. Each creator on these platforms, with a specific number of followers and reach, is paid a certain undisclosed amount. Besides this, they are also allowed to take any paid promotional partnerships in their personal capacity without having to share their income with the platforms. There are only three shortcomings to the Indian alternatives at the moment. First, the limited market compared to TikTok that had its presence across the globe. Second, the limited market is further divided among the rival brands. Third, the not-so-great technological innovation and user-experience. While Instagram may have these problems figured out by integrating Reels into their image and video app. However, it is not a great offering in terms of the monetisation aspect. It was much easier for a content to blow up on TikTok, given its artificial intelligence and machine learning algorithms. It also offered more in-depth insights into the audience. On the other hand, it is much more difficult to blow up content on Instagram. “Instagram has its plus points, but it's not offering much payout to influencers at the moment… Also Instagram, I think, is focusing on a more lavish life and a glamorous one with money. Unlike TikTok, we see only one or two videos from the rural parts of India on Instagram. Moj and other Indian apps, and even TikTok for instance, push such contents as well,” Vassundhara added. However, the Indian alternatives have replaced TikTok in the eyes of content creators at least. “If TikTok comes back to India, creators will still take some time to move to the platform. As you know, a lot of controversies have happened around TikTok in India like the <a href="https://indianexpress.com/article/entertainment/entertainment-others/carryminati-amir-siddiqui-youtube-vs-tiktok-6411239/">YouTube roast </a>or questions over its Chinese origin. People will take some time to understand this. By the time, creators will start going back to Moj or any other platform that may establish dominance,” Vassundhara said, adding the platform offers fair income to the creators from their end. Notably, TikTok may to make a comeback to the Indian market soon, as it has <a href="https://theprint.in/tech/tiktok-definitely-hopeful-india-ban-will-be-lifted-in-talks-with-govt-to-resume-operations/683916/">reportedly</a> started discussions with the government once again. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">India Yet To Find PUBG’s Alternative</h2>The Indian government’s attack on Chinese apps took down close to over 250 apps in the last one year. This also includes South Korean online multiplayer battle royale game PlayerUnknown's Battlegrounds (PUBG). PUBG had more than 175 million installations from India alone which accounted for 24% of the total installations worldwide. The ban on the online multiplayer battle royale game came due to its partnership with China-based Tencent Games. Tencent was PUBG Mobile’s licensed publisher in India. The duo ended their partnership in September 2020, and PUBG is now set to make a<a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-is-now-official-check-out-launch-date-downloads-and-more/articleshow/82427206.cms"> comeback</a> in India in a new avatar ‘BattleGrounds Mobile India’. The launch of BattleGrounds Mobile India may be subject to scrutiny as well, after a <a href="https://in.ign.com/battlegrounds-mobile-india/161110/news/battlegrounds-mobile-india-china-server-data-sharing-meity-government-meenakashi-lekhi">IGN India</a> report highlighted that the app was sending user data to China. Despite the spike in India’s e-sports segment over the last one year due to PUBG ban and Covid-19, there haven't been any direct replacements to PUBG Mobile India. Many users simply switched to the web version of the app, which was not banned. For PUBG Mobile India, Bengaluru-based nCore Games did come up with the one alternative -- Fearless And United Guards (FAUG) in September 2020. The company launched the beta version of the app earlier this week (June 27), but is yet to <a href="https://in.ign.com/fau-g-android/161446/feature/faug-team-deathmatch-map-gameplay-story-weapons-future-ncore-games">impress the Indian audience</a>. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">What other segments were disrupted due to the ban of Chinese apps?</h2> The ban on Chinese apps also promoted the Made-In-India sentiment that pushed users towards many Indian alternatives. For instance <keyword id="3518161" type="PERSON" weightage="20" keywordseo="koo">Koo</keyword> and Tooter were the first to arrive as the alternatives to US-based microblogging website Twitter. While Tooter was lost in the crowd, Koo has managed to set itself to a better start, at least. The one-year-old app already has about a third (<a href="https://www.business-standard.com/article/companies/will-double-headcount-lot-of-headroom-for-growing-user-base-koo-121050900174_1.html#:~:text=Koo%20has%20about%2060%20lakh,base%20and%20burgeoning%20Internet%20adoption.">6 million</a>) of Twitter's 17 million users in India. It has also raised about<a href="https://www.businessinsider.in/business/news/indias-micro-blogging-app-koo-raises-30-million-by-tiger-global/articleshow/82965589.cms"> $34 million</a> to date from marquee investors like Tiger Global Management, Accel, Kalaari Capital, and more. The platform is set to accelerate even further amidst Indian government’s ongoing tussle with Twitter. It has also made an<a href="https://qz.com/africa/2024107/nigerian-government-moves-to-indian-app-koo-after-twitter-ban/"> entry</a> into Nigeria after the Nigerian government banned Twitter last week. Even Indian ministers have<a href="https://www.deccanherald.com/national/it-minister-ravi-shankar-prasad-praises-koo-indias-alternative-to-twitter-950088.html"> praised</a> the app on many occasions. China-based document scanning and file storage app CamScanner, which found its biggest market in India with 100 million users, was also banned on June 29, last year. Since then, the app has been shadowed by another new popular option, Gurugram-based alternative Kaagaz Scanner. Launched in March 2020, the platform has over 5 million downloads and 1.7 million plus monthly active users. The platform has raised $575,000 last year from former <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> vice-chairman Kris Gopalakrishnan’s Axilor Ventures, Better Capital and Pravega Ventures. SEE ALSO <a href="https://www.businessinsider.in/policy/news/china-will-not-buy-iron-copper-aluminum-zinc-and-some-other-commodities-from-foreign-countries/articleshow/83565216.cms" data-type="tilCustomLink">China has decided to take global commodity bulls by their horns ⁠— to protect the profit margins of its small businesses</a> <a href="https://www.businessinsider.in/sports/news/soccers-most-expensive-young-player-missed-a-decisive-penalty-that-saw-reigning-world-champion-france-crash-out-of-euro-2020/articleshow/83940298.cms" data-type="tilCustomLink">Soccer's most expensive young player missed a decisive penalty that saw reigning world champion France crash out of Euro 2020</a> <a href="https://www.businessinsider.in/cryptocurrency/news/coinbase-ceo-brian-armstrong-says-the-goal-is-for-the-crypto-exchange-to-list-every-asset-that-is-legally-possible/articleshow/83937379.cms" data-type="tilCustomLink">Coinbase CEO Brian Armstrong says the goal is for the crypto exchange to list every asset that is legally possible</a>

One year of Chinese apps ban — Indian alternatives take over TikTok

By Lalit K Jha Washington, Apr 10 () A high-profile diaspora group of some of the top Indian American corporate executives and leaders have raised USD 600 million to fight hunger and provide direct relief to vulnerable populations affected by the coronavirus pandemic in the United States and India. ChaloGive for COVID-19 launched by Indiaspora has raised USD 500 million from its leadership network. Indiaspora also announced another USD 100 million as matching donation for its online giving campaign starting Friday."This pandemic has exposed an already existing hunger crisis," said Indra Nooyi, former Pepsico CEO. "Together, as a society we must rise to this moment and address this great need knowing our investment in people, in families, and in communities will reap untold benefits not only now but into the future," she said. Money raised by Indiaspora will meet demand on the ground through beneficiary non-profits Feeding America in the US and Goonj in India, a media release said. One of the most pressing and urgent challenges facing both the US and India right now is hunger, which is a deciding factor in Indiaspora's new ChaloGive campaign, it added."We are facing an unprecedented situation due to Covid-19," said Anand Rajaraman, a Silicon Valley-based serial entrepreneur and venture capitalist, and an Indiaspora Founders Circle member who, along with his wife Kaushie Adiseshan, is a lead donor for the campaign."The drastic measures necessary to control this pandemic have created special challenges for vulnerable sections of society across the world, particularly in India and the US. Indiaspora has the opportunity to unite the diaspora to quickly and decisively help in the midst of this crisis," Rajaraman said."While all eyes are on frontline hospitals, millions in America and across the globe suffer silently from a growing and equally alarming epidemic of food insecurity as the COVID-19 crisis threatens to push already struggling families deeper into poverty," said Sejal Hathi, an Indiaspora Board member and physician at Massachusetts General Hospital."Now more than ever is the time for communities like Indiaspora's to come together and rise to this call to feed people in need," Hathi said. Indiaspora said ChaloGive for COVID-19 provides an opportunity for the Indian diaspora to make a collective impact toward helping marginalized communities which have been disproportionately affected by the ongoing crisis."This crisis has made it even harder for those who were already struggling to survive," said Kris Gopalakrishnan, chairman of Axilor Ventures and a founder of IT services company Infosys, who is also an Indiaspora Founders Circle member. "Given the increasingly global world we are living in, India and its diaspora are in a unique and powerful position to help each other," he added. It is essential that individuals, especially vulnerable populations who are most at risk, maintain access to food during this public health emergency," said former U.S. Surgeon General Dr Vivek Murthy. "I proudly support this campaign and trust its impact will go far to bring relief to those struggling with food insecurity," he said.In India, philanthropists Rohini and Nandan Nilekani and Bollywood actress Nandita Das also have voiced their support for the campaign."Goonj is just the kind of organisation we can rely on in this double crisis of health and livelihoods," said Rohini Nilekani. "It has decades of experience serving the most vulnerable while striving to preserve the dignity of every stakeholder, and it has time and again demonstrated a scaled up, rapid response in the aftermath of disasters. We have been supporters of Goonj for many years. They care, and they deliver," she said."Despite our extensive experience of working in disasters, the scale and still unfolding nature of this long-tailed disaster calls for massive resource mobilization for short-, mid- and long-term work," said Anshu Gupta, Goonj founder and a Magsaysay Awardee."We are delighted to partner with Indiaspora on this campaign as an opportunity to engage the Indian-American community and our well wishers from across the world in supporting their fellow citizens in this difficult hour," he said."The nation and our food bank network are facing challenges unlike anything we've seen in our organization's history," said Claire Babineaux-Fontenot, CEO of Feeding America. "We are truly grateful to Indiaspora for its support of Feeding America through the ChaloGive for COVID-19 campaign. During this time of uncertainty, the generous donations derived from this effort will help bring much-needed food and hope to countless families facing hunger across the US," he said. LKJ RAXRAXRAX

High-profile Indian diaspora group raises USD 600K for COVID-19 relief

<keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword>, Chairman Emeritus of Tata Sons, has invested an undisclosed amount in San Francisco-based medical emergency response start-up called <keyword id="2953688" type="UNKNOWN" weightage="100" keywordseo="MUrgency">MUrgency</keyword> Inc. 
 "He (Tata) clearly wanted us to launch and grow the network in India first before taking it overseas. Mr Tata's investment in MUrgency will help attract leading talent to the company and major partnerships beyond India," MUrgency Inc Fonder <keyword id="378311" type="PERSON" weightage="100" keywordseo="Shaffi-Mather">Shaffi Mather</keyword> stated. 
 
The firm was founded in 2014 in Silicon Valley and was incubated out of Stanford ChangeLabs; it has also recently received investments from Kris Gopalakrishnan and Axilor Ventures, led by S D Shibulal. 
 
In India, the service was launched in Tricity area in Punjab in February this year, with a network of 36 hospital emergency rooms, over 40 ambulances and more than 350 medical professionals. 
 
Similar services are also said to be expected to be launched in Amritsar and Jalandhar towards the end of this month, and cover the entire state of Punjab by next month. 
 
Long term goals include covering all India by 2018 and the world by 2020. 
 
As per the company claims, emergency response can be made available with just one tap on a mobile phone in less than nine minutes in urban areas. 
 
"While our primary goal is to develop emergency medical response network, we are widening our service to be an inclusive and comprehensive medical service platform on your mobile phone. The app is live on iOS and Android app stores and several features are accessible across the world already," Sweta Mangal, Director, Global Emergency Response, MUrgency said. 
 
<a href="http://Ratan Tata, Chairman Emeritus of Tata Sons, has invested an undisclosed amount in San Francisco-based medical emergency response start-up called MUrgency Inc. " He="" Tata="" clearly="" wanted="" us="" to="" launch="" and="" grow="" the="" network="" in="" India="" first="" before="" taking="" it="" overseas.="" Mr="" Tatas="" investment="" MUrgency="" will="" help="" attract="" leading="" talent="" company="" major="" partnerships="" beyond="" Inc="" Fonder="" Shaffi="" Mather="" stated.="" The="" firm="" was="" founded="" Silicon="" Valley="" incubated="" out="" of="" Stanford="" ChangeLabs="" has="" also="" recently="" received="" investments="" from="" Kris="" Gopalakrishnan="" Axilor="" Ventures="" led="" by="" S="" D="" Shibulal.="" In="" service="" launched="" Tricity="" area="" Punjab="" February="" this="" year="" with="" a="" hospital="" emergency="" rooms="" over="" ambulances="" more="" than="" medical="" professionals.="" Similar="" services="" are="" said="" be="" expected="" Amritsar="" Jalandhar="" towards="" end="" month="" cover="" entire="" state="" next="" month.="" Long="" term="" goals="" include="" covering="" all="" world="" As="" per="" claims="" response="" can="" made="" available="" just="" one="" tap="" on="" mobile="" phone="" less="" nine="" minutes="" urban="" areas.="" While="" our="" primary="" goal="" is="" develop="" we="" widening="" an="" inclusive="" comprehensive="" platform="" your="" phone.="" app="" live="" iOS="" Android="" stores="" several="" features="" accessible="" across="" already="" Sweta="" Mangal="" Director="" Global="" Emergency="" Response="" said.="">Image source</a>

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