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<ul><li>India contributes 69% to <keyword id="1106616" type="General" weightage="20" keywordseo="truecaller" source="Orion">Truecaller</keyword>’s revenue, so even a minor impact coming from India could have larger implications for this Sweden-based company.</li><li>The <keyword id="2617070" type="General" weightage="20" keywordseo="personal-data-protection-bill" source="Orion">personal data protection bill</keyword> aims to ensure that personal data of Indian citizens is safeguarded and not stored overseas.</li><li>Truecaller claims to be the third largest communication platform in India, after Facebook and WhatsApp.</li></ul>Caller identification and spam blocking app Truecaller — which will soon go for an initial public offering (IPO) in Nasdaq Stockholm, Sweden — is worried that India’s personal <keyword id="4839724" type="General" weightage="20" keywordseo="data-protection-bill" source="Orion">data protection bill</keyword> may end up to be a business risk for the company. The<a href="https://www.businessinsider.in/tech/news/indias-new-data-protection-bill-makes-a-good-show-of-user-rights-but-can-it-deliver-on-its-promises/articleshow/81422687.cms"> personal data protection bill</a> is yet to be approved by the Indian parliament. Any data that can identify an individual — like names, addresses, financial information, IP addresses, cookies, device IDs and other data — are covered under the Personal Data Protection Bill, 2019. The bill includes requirement of notice and prior consent to use individual data, which limited the purpose for which the companies had processed this data for. These restrictions are put in place so that only necessary data is collected. The Indian government with this will wants to ensure that personal data of Indian citizens is safeguarded and not stored overseas. Truecaller highlighted this bill as one of the risks factors to its business in the <a href="https://corporate.truecaller.com/cms/18eb93ba-f68b-4446-829c-9d1ad3add6a5_TruecallerAB_prospectus2021.pdf">IPO prospectus</a>. It plans to raise SEK 1 billion, which is about $116 million. What does Truecaller say? “If adopted, the act, which is<a href="https://www.businessinsider.in/tech/news/indias-personal-data-protection-law-versus-europes-gdpr/articleshow/81504058.cms"> broadly modelled on the GDPR </a>[European Union’s General Data Protection Regulations] will establish a mechanism for protection of personal data and would set up a national data protection authority. It is possible that this act, if adopted and depending on the final form, could have unanticipated adverse effects on Truecaller’s business,” Truecaller said, in the IPO prospectus. “Additionally, if third parties that Truecaller works with — such as advertisers, service providers or developers — violate applicable laws or Truecaller’s policies, these violation may also put Truecaller’s information at risk and could in turn have an adverse effect on Truecaller’s business, revenue and financial results,” the company added. Penalties proposed under the data protection bill, 2019 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offence </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Penalty </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Processing or transferring personal data in violation of the bill </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fine of ₹15 crore or 4% turnover, whichever is higher </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Failure to conduct data audit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fine of ₹5 crore or 2% annual turnover, whichever is higher </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Re-identification and processing of de-identified data without consent </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Imprisonment of up to three years, or fine, or both </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Why will a regulation in India impact Truecaller’s overall operations? The personal data protection bill will impact Truecaller’s operations in India, which contribute about 69 percent to its overall revenue. So even a minor impact coming from India could have larger implications for this Sweden-based company. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January-June 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January-June 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Operating revenue (global) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SEK 169,538,000 ($19 million) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SEK 424,670,000 ($48 million) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss for the period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SEK 36,413,000 ($4 million) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SEK 117,622,000 ($13 million) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Truecaller is the third largest communication platform in India, after Facebook and WhatsApp. About 73% — or 205 million — of its 278.1 million monthly active users are from India. It also counts companies like Uber India, Swiggy, Airtel, Flipkart, Byju’s, Urban Company, HDFC Bank, Unacademy, among others, as its key customers. India is also the biggest market for Truecaller in terms of workforce as 55% of its employees are based in the country. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/tata-motors-tcs-hdfc-bank-icici-bank-and-other-trending-stocks-ahead-of-rbis-monetary-policy-meet/slidelist/86857252.cms">Tata Motors, TCS, HDFC Bank, ICICI Bank and other trending stocks ahead of RBI’s monetary policy meet</a> <a href="https://www.businessinsider.in/business/auto/news/heres-why-tata-motors-is-red-hot-even-when-82-of-its-business-is-still-in-the-woods/articleshow/86849799.cms">Here’s why Tata Motors is red hot even when 82% of its business is still in the woods</a> <a href="https://www.businessinsider.in/tech/news/google-and-youtube-say-they-will-cut-off-climate-change-deniers-from-being-able-to-monetize-their-content-and-display-ads/articleshow/86856039.cms">Google and YouTube say they will cut off climate-change deniers from being able to monetize their content and display ads</a>

Ahead of its $116 million IPO, Truecaller says India's upcoming data protection bill may affect future earnings

The <keyword id="6354416" type="COMPANY" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> has asked all its personnel and soldiers to remove 89 apps by July 15 owing to the national security risks. The list not only have Chinese apps that have already been banned by the government like TikTok but also carries US-based platforms like <keyword id="6354576" type="COMPANY" weightage="20" keywordseo="facebook">Facebook</keyword>, Instagram, Snapchat, Zoom, <keyword id="1106616" type="PERSON" weightage="20" keywordseo="TrueCaller">Truecaller</keyword>, Reddit and more. The 89 apps have <keyword id="2290246" type="PERSON" weightage="20" keywordseo="social-media-accounts">social media accounts</keyword>, content sharing apps, short video making apps, e-commerce and dating sites like songs.pk, WeChat, Hike, Likee, Shareit, PUBG and Tinder, etc. "The existing accounts are required to be deleted and not left deactivated. Any service persons found on Facebook/using banned sites post-July 15 will be reported," according to the sources in the Indian Army. The decision has apparently been taken in order to stop sensitive information from going out the country. India has already banned 59 Chinese apps, including TikTok, saying these apps opened the way for "elements hostile to national security and defence" to exploit them to "ultimately impinge upon the sovereignty and integrity of India". US Secretary of <keyword id="9241528" type="UNKNOWN" weightage="20" keywordseo="state-mike-pompeo">State Mike Pompeo</keyword> has said that Washington was looking at banning Chinese social media apps, including TikTok. In a <keyword id="85287" type="COMPANY" weightage="20" keywordseo="Fox-News">Fox News</keyword> interview on Monday, Pompeo said that "we're taking this very seriously". SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/harvard-and-mit-are-suing-ice-to-block-its-order-forcing-international-students-to-leave-the-us-if-their-course-is-online-only/articleshow/76856699.cms" data-type="tilCustomLink">Harvard, MIT, and Northeastern University are suing ICE to block its order forcing international students to leave the US if their course is online-only</a> <a href="https://www.businessinsider.in/stock-market/markets/news/sbi-card-share-price-has-surged-by-40-inching-closer-to-its-issue-price-of-755/articleshow/76853803.cms" data-type="tilCustomLink">SBI Card has surged 40% as lockdown blues blow over ⁠— but those who got shares in the IPO are still in the red</a>

Indian Army bans 89 apps for its personnel, including Facebook, TikTok, Truecaller, Instagram, Tinder, PUBG

<ul><li>India the second most affected country by <keyword id="2232456" type="PERSON" weightage="20" keywordseo="spam-calls">spam calls</keyword> in 2018. </li><li>While the overall numbers were not disclosed, an average Indian user received nearly 22 spam calls a month. </li><li>Nearly 90% of the calls were from operators or telecom service providers for promoting their services or products. </li></ul>From relentless requests to apply for credits cards to promoting an unknown product, spam calls have been troubling mobile users in India for years now. Such unwanted calls aren’t just annoying, they also expose users to risks of financial scams. An average Indian user was bugged by 22.3 spam calls a month making India the second most affected country by spam calls in 2018, said an annual report from mobile ID recognition app, <a href="https://blog.truecaller.com/2018/12/18/truecaller-insights-the-top-20-countries-affected-by-spam-calls-in-2018/#more-5848">Truecaller.</a> Speaking about the sources of these calls, the report pointed out that most of the calls received by Indians were from operators and telecom service providers who would brag about their services and recent offers. However, in total, the average number of spam calls registered in India has declined by 1.5% in comparison to the previous year. While the report did not reveal the total number of calls received by the whole country but it did say that “volume-wise, India receives the most spam calls in the world,” The Telecom regulatory authority of India (TRAI) has earlier tried to resolve the problem by introducing a new set of rules including penalty and taking user’s permission prior to making such calls. TRAI has also introduced the Do-Not-Disturb for mobile users. See more: <a href="https://www.businessinsider.in/here-are-the-most-controversial-data-breaches-of-2018-that-affected-indian-users/articleshow/67148364.cms" data-type="tilCustomLink">Here are the most controversial data breaches of 2018 that affected Indian users</a> <a href="https://www.businessinsider.in/indias-unique-identification-program-aadhaar-sees-a-big-drop-in-authentication-use-after-supreme-court-verdict/articleshow/66931607.cms">India’s unique identification program Aadhaar sees a big drop in ‘authentication’ use after Supreme Court verdict</a>

India is the second most-plagued country by spam calls, says Truecaller

<ul><li>As of April 29, there are 18 million active Covid cases in India.</li><li>To help our country grapple with the second wave of Coronavirus pandemic, many brands have stepped forward to do their bit.</li><li>Apart from financial aid, there’s another powerful tool that brands can use today -- advertising. It can influence consumers to act and remind them that we are in this together.</li><li>We reached out to experts to understand how should a brand use its marketing tools today: should they halt their advertising to give consumers space or launch empathetic campaigns as a reminder of togetherness and better tomorrow.</li></ul>As we stepped into 2021, consumers were hopeful about their lives returning back to normalcy. There was hope and enthusiasm for a better tomorrow. We were almost towards the end of it. Consumer sentiment also picked up with the announcement of India’s biggest sporting event IPL and advertisers were optimistic about bouncing back to normalcy. Advertising agencies worked on IPL pitches for months, risked their lives to execute them and even started thinking about campaigns for Mother’s Day. However, the country now is in the midst of one of the worst calamities it has faced in recent times. Our country’s healthcare system and our brave healthcare workers continue to be under tremendous pressure. It has impacted our mental health because we are living in constant fear of us or someone close to us contracting the virus. People are either mourning someone’s loss or dealing with the anxiety that they might have to, soon. Despite the despondency in the air, citizens have taken it upon themselves to help each other out. Many brands and organisations have also come to our rescue. They are using their social media reach to amplify requests for hospitals beds and oxygen supply. They have also donated money to government bodies and NGOs. There’s another powerful tool that brands can use today -- advertising. It can influence consumers to act. Apart from facing the truth of what’s happening around us, we need empathy and kindness to get through this tough phase. It is only in socially-distanced unity and togetherness that we can find courage to face the reality. Consumers also need compassion, more than ever today. They need brands they follow to set an example and encourage them. Afterall, they are a huge part of our country. Many brands, however, have chosen silence to give their consumers enough space to heal. A few are using their social media to help everyone out -- left, right and centre. Some have chosen to focus on the fact that consumers still need products and services to survive and have continued advertising like nothing has changed. At the same time, these ads remind us of good, old days and serve as a great escape from the grim reality. So, we reached out to experts to understand how should a brand use its marketing tools today. Here is what they had to say: <cmsannotation type="cmsannotation" annotationid="Karthik Srinivasan, Social Media Expert and Independent Brand Consultant:" text="Karthik Srinivasan, Social Media Expert and Independent Brand Consultant:">Karthik Srinivasan, Social Media Expert and Independent Brand Consultant:</cmsannotation> I would say that silence is definitely not the best way for brands now. It could be construed as disinterest or worse, callousness. A better way could be one of the two, or both, depending on the size and scale of the brand. 1. Make yourself directly useful - use your reach: Brands have media budgets, social handles with a sizable following, and access to media. They could put this to good use by helping in the coordination of essential medical supplies including oxygen. This would take time, effort, and coordination, but it would also be a visible example of the brand trying to help as against one donation done once and announced. This is particularly useful for brands that cannot reposition their own products/services as a way to help people manage their lives during a pandemic. For instance, a movie production house. Or a fashion brand. Or a Cola brand. Or IPL teams. 2. Make yourself indirectly useful - use your product/service context: This is useful for brands that can reposition their own products/services as a way to help people manage their lives during a pandemic. For example, a book retailer (or an audiobooks retailer, like Audible) could make a selection of their repertoire free/cheaper and pick those titles that can calm minds, or those that can help engage children (helping the parents who are recuperating). Or a retailer or producer of audio equipment could become a curator of calming music, podcasts, or audiobook titles. This way, they are not selling their products, but merely making them a backdrop to a far more contextually useful curation effort that is related to their category. Or food brands that could help offer recipes to gradually overcome the loss of sense of taste and smell. <div type="twitter" handle="beastoftraal" handlename="Karthik" image="http://pbs.twimg.com/profile_images/1140493276316745734/WH-6N17h_normal.jpg" favoritecount="8" retweetcount="2" status="Nice idea - &quot;A cook book to inspire those experiencing changes in taste and smell as a result of Covid&quot; (free digit… https://t.co/UU5s258eOf" createdat="1619440585000" id="1386660436552994821"></div> It is important that brands do not force-fit or contort themselves to become relevant within the COVID-19 context - that would be seen through and exposed very soon, and backfire badly. The connection has to be entirely natural and more importantly, purposeful. <cmsannotation type="cmsannotation" annotationid="Lloyd Mathias, Business Strategist, Investor and former APAC Marketing head of HP:" text="Lloyd Mathias, Business Strategist, Investor and former APAC Marketing head of HP:">Lloyd Mathias, Business Strategist, Investor and former APAC Marketing head of HP:</cmsannotation> I think a brand cannot completely isolate themselves from the reality on the ground. Given the grim situation because of the Covid surge, it is appropriate that commercial objectives take a back seat and a brand communicates sensitively. Staying silent is a safe and acceptable strategy but if a brand can help people cope in any way appropriate, this will be a good time to do so. This could mean using the brand’s assets – communication spends or social media assets to communicate help messages or using logistical resources to move healthcare related equipment. These need to be devoid of any commercial motive or seem like virtue signalling. So staying sensitive to large humanitarian tragedy is paramount. Also, collaborating with a competitor on any social project would seem like a mature and positive thing to do. Many fondly remember Nike’s support to the Back Lives Matter movement when they said ‘For once, don't do it.’ Seeing this heartfelt message, Adidas shared the sentiment saying together we can move forward and change. This worked wonderfully for both brands. <cmsannotation type="cmsannotation" annotationid="Vani Gupta Dandia, Founder, CherryPeachPlum Growth:" text="Vani Gupta Dandia, Founder, CherryPeachPlum Growth:">Vani Gupta Dandia, Founder, CherryPeachPlum Growth:</cmsannotation> What can brands do in all of this crying chaos? Quite simply help, for no other reason, but for humanitarian reasons. Corporates can respond in one of three ways: 1) Support the efforts to fight the virus directly e.g. by providing infrastructure (ambulances, cold chains for supply chain management), volunteers, disseminating information on hygiene protocols etc. Last few days, for example, OYO has converted its rooms into isolation centres. Can an Airtel or a Truecaller take on the task of separating fake vs real/verified numbers amidst the zillion different covid related forwards? Can a company set up a leasing system of oxygen concentrators? Patients need one for only a few hours, at best a few days. Why don't we have them available on hire? Saves consumers money and lives, while those who lease can actually make more money than through a single sale. Can some company come forward to set this up? 2) Providing support to those impacted by the pandemic e.g., smartphones to students for online learning, community food kitchens in slum areas to support daily wage labourers etc; and 3) Helping NGOs e.g. Give India by providing cash and expertise. Will it reap any benefit on brand equity or more sales later... Who knows? But my bet is it will! People are hungry for stories of good amidst this grim desperation. And one great way of standing out just now is to simply come forward with courage and say "Screw strategy, let's help where we can.” It's war -- just of a different kind. Not all good work by companies need be categorised as 'purpose-driven' or 'CSR'. When brands stand up at such times people remember. It doesn't need to have any link at all with the brand proposition. But I see that there is an ongoing debate on whether IPL should be pulled down, given the gravity of the ongoing crisis. I don't see why it shouldn't go on. All of us as consumers need to keep our sanity too - and cricket is a welcome distraction. And because we're watching cricket, advertisers will continue to sell their wares - and I don't see why not. Normal life also must go on to the extent possible. Lives and livelihoods both matter. <cmsannotation type="cmsannotation" annotationid="Ronita Mitra, Founder and Chief Strategist, Brand Eagle Consulting:" text="Ronita Mitra, Founder and Chief Strategist, Brand Eagle Consulting:">Ronita Mitra, Founder and Chief Strategist, Brand Eagle Consulting:</cmsannotation> While we are faced with a large scale and challenging humanitarian crisis, corporates and brands, as responsible citizens, should consider contributing actively in order to alleviate the situation. This phase is not about advertising products and services unless it is for a new category which needs immediate awareness building. Actions, especially empathetic ones, that contribute towards bettering the lives of people during these challenging times, will have far more meaningful impact than mere communication. Corporates have the clout to make a significant impact and they should consider diverting their CSR funds towards helping citizens in various possible ways - be it funding supply of medical products, food for the lower socio-economic classes who are impacted by the lockdowns, education for children who have been impacted by the inadequate infrastructure at home, facilitating vaccination for those who are not adept with the systems, and much more. Brands can use social media and other media platforms to communicate the same. Meaningful actions during these times will have a memorable impact on the consumer psyche too and will help strengthen consumer connect in the long term more than anything else now. <cmsannotation type="cmsannotation" annotationid="Harish Bijoor, Brand-strategy specialist &amp; Founder, Harish Bijoor Consults Inc:" text="Harish Bijoor, Brand-strategy specialist &amp; Founder, Harish Bijoor Consults Inc:">Harish Bijoor, Brand-strategy specialist &amp; Founder, Harish Bijoor Consults Inc:</cmsannotation> In moments such as these, very very tough times when fear and chaos is the norm, I do recommend a dignified brand silence. Brands must not add to the clutter of personal communication. Staying away from the melee of tumult is a good thing brands with commerce on their minds can do. At least for now. <div type="Article" hostid="261" msid="82260905" title="From CRED to Google, here’s how brands are helping India fight against COVID-19" mstype="2" mssubtype="0"></div>

Experts share the ideal ways in which brands can advertise during the second Covid-19 wave in India

Rohan Shravan was 24 years old when he founded Notion Ink, a <keyword id="138263" type="UNKNOWN" weightage="100" keywordseo="startup">startup</keyword> that designed India’s first tablet computer Adam. The device was launched five months before Apple placed the first version of the iPad on store shelves. 
 
At its international debut in the Consumer Electronics Show at Las Vegas in January 2010, one of the first to place an order for Adam was an employee at Apple headquarters in Cupertino. However, in the ensuing months as the iPad gained iconic status, Adam dropped by the wayside, felled by the lack of risk capital to grow the business. 
 “When I told venture capitalists that our product will be a challenger to <keyword id="10591" type="CITY" weightage="40" keywordseo="Samsung">Samsung</keyword> and Apple, they laughed at me,” said Shravan, a mechanical engineer from the Indian Institute of Technology in Kharagpur who initially bootstrapped the firm with personal savings of around Rs 6 lakh. 
 
Shravan’s experience is hardly unique. In the midst of an unprecedented entrepreneurial boom, several of those starting up say there are more hurdles than advantages in the Indian startup sector. Apart from the red tape and the lack of policy support there is also a shortage of true risk capital that can back edgy new ideas. 
 
Customers are unwilling to pay for untested products and many entrepreneurs choose the middle path fearing failure. “I was very aggressive, arrogant and fought like a warrior, the so-called experts advised me to tone down and be nice, which led to our downfall,” said Shravan who trained engineering students to work on Adam as a way to minimise staff costs. “Around 80 per cent of the employees were final year students; they were later snatched by Samsung and Motorola.” 
 
In recent years, several ventures including short messaging service GupShup, personalised news service Frrole and language keypad maker Luna Ergonomics have altered business models when faced with regulatory hurdles or the fear of rejection from investors and customers. 
 This at a time when many global technology companies including WhatsApp, <keyword id="6354576" type="CITY" weightage="40" keywordseo="Facebook">Facebook</keyword>, caller identification service Truecaller, home rental marketplace Airbnb, and question and answer site Quora count India as one of their fastest growing markets. 
 
Nearly 40 million of WhatsApp’s global user base of 450 million is in India. “India is our largest market with about 30 million users and continues to demonstrate great opportunities for us,” said Nami Zarringhalam, cofounder of Sweden’s Truecaller. When Amarpreet Kalkat started his company Frrole in 2011, he wanted to build a product that was tailored to a user’s area of interest. 
 
“I believed it could rival Google News,” said the 35-year-old entrepreneur. Eight months later, Kalkat started looking for funds and he had to answer the dreaded question, over and over again: “How do you make money?” Two years of running the company without external funding almost made him bankrupt. Kalkat was forced to start a new by changing his model to an enterprise product. 
 
At about the same time when Frrole was launched in Silicon Valley, a text and photo sharing app called Snapchat was born. It received $60 million (Rs 361 crore) in initial funding and was handling 150 million photos every day. 
 
Last year, the company rejected a $3 billion (Rs 18,000 crore) buyout deal from Facebook. “There is a very high chance that Frrole would still have been a social newspaper, if we were based in Silicon Valley,” said Kalkat whose company now has a dozen of enterprise customers. 
 
Parag Dhol, managing director at Inventus Capital Partners, said he has some sympathy with the entrepreneurs’ point of view. “But let me throw the question back at them—let us find at least one product from India where there are at least 100 million users,” said the investor who has backed firms such as Savaari Car Rentals, online bus ticketing site redBus and technology company TELibrahma. 
 
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Angel investor Sharad Sharma, who pushed Kalkat to alter his business model, is of the view that in Silicon Valley entrepreneurs can afford to not have a paying business. “Because they have the confidence that they will get bought over, here there is no such scene. It’s all about viability of the business,” said Sharma who participated in a $245,000 angel (Rs 1.4 crore) funding round in Frrole this April. 
India has a far worse ratio of venture capital exits as compared to Israel and the US, according to data compiled by think tank iSpirt and investment bank Signal Hill. Few large companies are interested in buying out startups or using their products, impeding growth of local companies. 
 
“We had all the ingredients to become a large global company,” says Abhijit Bhattacharjee, 43-year-old founder of Luna Ergonomics, the maker of the Indian language keypad Panini. 
 
Named after an ancient Sanskrit grammarian, the technology makes it possible to type quickly and easily in all Indian languages on the mobile phone. The company which has received patents for its Korean language interface did not find takers amongst Indian telecom companies. 
 
“Supporting Indian scripts on digital devices does not suit the strengths and roadmaps of these companies,” said Bhattacharjee, whose company last released an Urdu keypad for iOS, Android, and PC in 2013. “Which large enterprise buys cutting edge technology from startups? When there are not early customers, how can you expect to have $1 billion companies?” asked Ashish Gupta, a senior managing director at Helion Venture Partners that backed group text messaging service GupShup. 
 
The Mumbai-based firm was launched just six months after microblogging site Twitter was launched in the US in July 2006. Within a year of inception the service had racked up 15 million users. 
 GupShup was a free, social, short messaging service that allowed users to communicate and connect with family, <keyword id="343" type="ENTERTAINMENT" weightage="40" keywordseo="Friends">friends</keyword> and followers using ordinary mobile handsets. But the telecom ecosystem and policies were a problem. 
 
“The regulations did not allow advertising. The operators kept the short messaging service rates high,” said Beerud Sheth, cofounder of Webaroo maker of GupShup product. The company had to shift focus from retail consumers and instead offer the messaging platform for enterprises. 
 
“They (government) should invest money in big ideas. They need to stop protecting big industries and start encouraging disruption and risk taking,” said Rahul Sood, partner at Microsoft Ventures and a technology entrepreneur, who sold the luxury computer business VodooPC to Hewlett Packard in 2006. 
 
Compare this to China, where the startup ecosystem is accelerating faster than anywhere in the world. There are around 1300 incubators and accelerators across the country compared with about 35 active accelerators in India. Shravan of Notion Ink has not lost hope yet. 
 
The entrepreneur is placing another bet. This time a personal computing robot called EVE, which he thinks will disrupt the market and will be in the market by 2017. “I will be jealous of my kids, they will be enjoying the rewards our hard work and same is true for the next generation of entrepreneurs,” he said.

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