No, 500 Startups isn’t putting India on hold

Shalini Prakash, the new face of 500 Startups in India. Photo credit: Shalini Prakash.

After four-and-a-quarter years, Pankaj Jain has moved out of being a partner for 500 Startups, where he continues in an advisory role for now. Pankaj, who divided his time between the US and India, handled the India portfolio for the iconic early stage seed fund and accelerator.

That mantle passes to Shalini Prakash, who’s been part of the 500 Startups investment team in India for a year and a half. Earlier, she had a series of stints with other accelerators as well as Ink Talks, a TED-inspired program.

I want to see how best we can enable cross-border connections, using the 500 Startups network across Asia.

Shalini was brought in to lead partnerships and other programs at 500 Startups. She’ll now take care of the India portfolio and investment strategy going forward.

“Great things happen when technology and entrepreneurship intersect. My interests lie in empowering these intersections,” says her LinkedIn summary. In an exclusive interview with Tech in Asia, she elaborates on how this relates to her new role at 500 Startups.

Bridges across Asia

India-US connections have been the preoccupation for startup communities here and in Silicon Valley. But Shalini points out that 500 Startups also has a strong network across Asia, especially the fast-growing economies of Southeast Asia where it recently launched a second Durians fund. She’s keen to build bridges between India and Southeast Asian countries.

“I want to see how best we can enable cross-border connections, such as exploring new markets like Indonesia and Malaysia for our portfolio companies in India,” she says. “I want to build that network stronger.”

See: Why Microsoft is asking Indian startups to dance with it into the new year

She gives the example of Indian fashion ecommerce startup StalkBuyLove, which got its first funding from 500 Startups and raised a series A round of US$6 million last month. The founders, who are Rocket Internet alumni, now want to go big on Southeast Asia. The startup’s initial funding actually came from the 500 Startups Durians fund, even though it was in India.

So, regardless of where the investment comes from, the idea is to make the most of cross-border connections, says Shalini. For example, OnlineTyari, another startup in the 500 Startups portfolio in India, offers test prep material in regional languages for seekers of government jobs. Southeast Asian countries with a similar structure could also use OnlineTyari with a change in language.

“So it’s not just ecommerce. Other areas also have similar problems and opportunities across the region. One market can also be a testing ground for another,” says Shalini.

No Kulfis but India is still hot

Photo credit: Pete Birkinshaw.

Pankaj Jain moving out of 500 Startups is also related to plans for two India-focused funds – Kulfis and Startupwallah – being put on hold. Pankaj was heading 500 Startups Kulfis for India, Sri Lanka, and Bangladesh.

This has been characterized in some India media as 500 Startups “putting India on hold.” Shalini says that’s a misinterpretation because 500 Startups will continue to invest in India from its global funds and build up its portfolio startups. It has no second thoughts about the future potential of India, where 500 Startups has made around 60 investments. The mechanics of setting up an India fund may take time to work out, but that doesn’t put the investment activity on hold, she points out.

See: He was skeptical of accelerators, but now he runs one with a twist

On the contrary, she’s excited about new possibilities in a range of domains from SaaS to edtech and ecommerce, through partnerships across Asia. In this, her three years of working on collaborative programs and partner networks at Ink Talks will be valuable experience. She was also a program manager at Kyron which has a unique model of partner accelerators to build connections between startups and global enterprises.

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from Tech in Asia https://www.techinasia.com/shalini-prakash-500-startups-india
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