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The Hive India launches operations to focus on big data

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Krystal
New Update

BANGALORE, INDIA: The Hive India has announced the launch of its operations that will be based out of Mumbai and Bangalore. The organization, which is affiliated with The Hive in Silicon Valley, California, will be co-founded by Amit and Arihat Patni. It will fund and launch data-driven businesses that cater to the global market. It aims to substantially leverage the expertise and network from the Bay Area.

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The Hive India believes that applications that leverage the innovation in data science and scale-out infrastructure can disrupt markets and create new opportunities. The organization works with entrepreneurs to create companies that use data to innovate products and gain advantage in a competitive market. Since its use of data analytics is vast, India has a shot in the big data space. A joint study by NASSCOM and CRISIL Global Research & Analytics estimates that the Indian big data industry will grow from $200 million in 2012 to $1 billion in 2015 at a CAGR in excess of 83 percent.

The areas of interest for The Hive India are in functional areas such as multi-channel marketing, security, IT management and more, as well as vertical areas like eCommerce and retail, media and advertising, telecommunications, healthcare and others, that work with innovative approaches and disruption by big data. Companies that are past proof of concept stage and have gathered some revenue, as well as those entrepreneurs in the early stages -- who need help in refining their product concept, or those that have talent, but no exposure, are taken into consideration.

The Hive India works on a partnership basis, making it the owner of a share of the company it funds. It will explore the network of investors, advisors, successful entrepreneurs, executives, technologists and strategic partners from within India and the Silicon Valley, in order to help the company grow. The platform will actively work with founders to help shape the management team, formulate product and market strategy and build a viable business plan. It will also provide a capital that falls in the range of $200,000 to $2,000,000.

"Through our platform, we aim to help entrepreneurs create sustainable businesses that incorporate big data by providing them with initial capital, mentoring, technical and business guidance, and access to prospective follow on capital and strategic partners." said Arihant Patni, managing director, The Hive India.

When it comes to The Hive India, there are no time frames, and a company will be assisted for the entire amount of time that they may require it. In addition to mentoring and guiding budding entrepreneurs to grow their companies, The Hive India will also host periodic talks and panel discussions to share knowledge and bring together experts and visionaries from academia and the industry.