Bangalore: The Hive India today announced the launch of its operations that will be based out of Mumbai and Bangalore. The organization, which will be co-founded by Amit and Arihant Patni, will fund and launch data-driven businesses that cater to the global market. The Hive India is affiliated with The Hive in Silicon Valley, California, and aims to substantially leverage the expertise and network from the Bay Area.
A joint study by NASSCOM and CRISIL Global Research & Analytics estimates that the Indian Big Data industry will grow from USD 200 million in 2012 to USD 1 billion in 2015 at a CAGR in excess of 83 per cent. The Hive India is interested in functional areas as well as verticals that lend themselves to innovative approaches and disruption by Big Data. Examples of functional areas of interest are Multi-Channel Marketing, CRM, Security, IT Management etc. Examples of vertical markets of interest are eCommerce and Retail, Media and Advertising, Financial Services and Insurance, Telecommunications, Healthcare etc.
The Hive India will work with both companies that are past proof of concept stage and have garnered some revenue, as well as entrepreneurs at early stages who need help in refining their product concept. The platform will provide capital in the range of USD 200,000 to USD 2,000,000 and will actively work with founders to help shape the management team, formulate product and market strategy and build/execute a viable business plan. In addition, The Hive India will explore its’ network both from within India as well as from Silicon Valley to help entrepreneurs grow their companies. This network consists of investors, advisors, successful entrepreneurs, executives, technologists and strategic partners.
“Through our platform, we aim to help entrepreneurs create sustainable businesses that incorporate Big Data by providing them with initial capital, mentoring, technical and business guidance, and access to prospective follow on capital and strategic partners.” said Arihant Patni, Managing Director, The Hive India.
In addition to mentoring startups, The Hive India will also host periodic talks and panel discussions to share knowledge and bring together experts and visionaries from academia and the industry.