Indian Entrepreneurs, Startups & Funding

Indian Institute of Technology (IIT) ranked number four in producing Entrepreneurs, beating many Universities in USA. 2 week back I read this news. It was a pleasant and proud feeling.
India has been contributing to world of Information and Technology from many years, but this contribution is for service industry. There are no substantial  'Product' companies in India which made 'Impact' in the field of Information Technology. But these high quality Entrepreneurs coming into the race will definitely change the future for India.

Today I saw another news by National Entrepreneurship Network(NEN) which highlighted 4 Indian startups which raised millions.
The startups are:

• MeraEvents.com
• Redbus.in
• Freshdesk.com
• UrbanLadder.com

Ref:
http://blog.pitchbook.com/the-top-50-universities-producing-vc-backed-entrepreneurs/
http://www.nenonline.tv/3-indian-start-ups-who-raised-millions/

Mark Cuban is Funding Open Source Entrepreneurs

I think, this is right time to start any business because you don’t have anything to loose. Whatever customers you will be getting is your plus point & of course if you can survive in this recession period you’ll definitely bounce back with next boom..

I came across this great blog regarding Funding for Open Source business

So, if you think you have some idea which can be transfered into a big business go ahead & put you business plan to Mark’s blog.

There are certain conditions like

• Business should be Open Source
• Break even in 60 days & profitable in 90 days
• Mark keeps all rights to fund a business or stop funding at all etc..

There are some more conditions, which you’ll find on his blog. Obviously there are hundreds of people submitting their business plans. I am waiting to see how many of them actually get funding & whether this creates some good companies.