Alibaba To Foster Mcommerce & Mobile Internet Startups In India, Launching Startup Incubator With Globals

Alibaba To Foster Mcommerce & Mobile Internet Startups In India, Launching Startup Incubator With Globals

The Founder and Chairman of Multibillion dollar Alibaba Group, Jack Ma during his recent visit to India, joined hands with India’s Globals Inc, to establish a startup incubator focused on mobile internet and mcommerce. “We met Jack Ma and his team in Delhi on Monday, and we came to an in-principle agreement on the incubator,“ said Globals founder Suhas Gopinath.

Research reports states that there has been significant rise in mobile usage since 2014 which grew by 33%, and is further expected to grow by 21% year-on-year basis to touch 457 Mn by 2019. Also, it has been noted that the mobile app downloads would grow six-fold to 9 Bn by the end of this year.

The startup incubator will focus primarily on mcommerce and mobile internet related startups and will be operational from May-June of the current financial year.

Suhas Gopinath further added, “It is easy to mentor the startups, and find the right set of funders if you have a focused incubator.”

Related: India’s Mobile Commerce Growth In 2014

In India, there are a number of startup incubators and accelerators, however, there are only few which focusses on particular domain. Just few months back, GSF Accelerator had launched M-Accelerator focussed on mobile-first startups.

Founded in 2000, Bangalore-based Globals Inc is a mobile and analytics solutions company. Its disruptive solutions offers Web and Cloud, Enterprise Application Development, and Product Development services to varied industries ranging from Education, Government, Media, Finance and Independent Software Vendors.

Globals’ founder, Gopinath was once described as one of the youngest entrepreneurs in the world and is the recipient of the Rajyotsava Award, Young Achiever and Young Global Leader Award.

It is to be noted that the PM Modi has expressed his ambitious plan to empower small businesses in country, following which the Alibaba founder has also expressed his desire to nurture small businesses. Alibaba, is an investor in many Indian startups like Paytm and Snapdeal. Earlier in September last year, Alibaba had raised $25 Bn in a record initial public share offering. Going forward, the firm plans to globalize in the next three years.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Alibaba To Foster Mcommerce & Mobile Internet Startups In India, Launching Startup Incubator With Globals-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Alibaba To Foster Mcommerce & Mobile Internet Startups In India, Launching Startup Incubator With Globals-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Alibaba To Foster Mcommerce & Mobile Internet Startups In India, Launching Startup Incubator With Globals-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Alibaba To Foster Mcommerce & Mobile Internet Startups In India, Launching Startup Incubator With Globals-Inc42 Media
Alibaba To Foster Mcommerce & Mobile Internet Startups In India, Launching Startup Incubator With Globals-Inc42 Media
You’re in Good company