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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.

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