[RESEARCH] The world might have the clocks, but India has the time: an in-depth study of the startup and VC ecosystem
YourStory Research, the research arm of YourStory Media, in association with the Indian Private Equity & Venture Capital Association (IVCA) unveils an insider?s view of the Indian startup and VC ecosystem through the eyes of David Nathaniel Back, co-founder of Zoomcar.
- Download the report 'The case for Indian venture capital'David Back moved from California to Bengaluru in 2013, two years after attending the 'MIT Entrepreneurship in India' conference along with his friend Greg Moran, fellow co-founder of Zoomcar, India's first 'western-style' car rental company with no chauffeurs.
- David talks of the time when India was hit by a policy paralysis, and entrepreneurs were struggling to raise money.
- "It was impossible to raise money at that time (2013-13)," David recalls.
- Snapdeal, in fact, raised significant capital from Alibaba, Foxconn, Temasek, Blackrock as well, clearly signalling that foreign investors had identified India as the next "emerging market growth story" after China.
- "I thought that was the time to stay invested though," David says.