E-commerce is awash in money, raising concerns about whether this is just another unsustainable internet trend headed for a bust
It’s Saturday morning, when most people would either lounge at home or, if they’re particularly energetic, head out for brunch or to crawl one of the many malls in Bangalore. Yet, the auditorium on the premises of Sasken Technologies is nearly full. ‘Startup Saturday’, organised by Headstart Network Foundation once a month in various cities, is under way, and the audience – entrepreneurs (aspiring and established), angel investors, mentors and students – have gathered to listen to various speakers on “Lean Startups”. The atmosphere may be casual, with T-shirts the preferred attire (some with the name of start-ups), but the audience listens to every word in rapt attention.
Among the event’s volunteers is Shalini Nautiyal, a postgraduate in computer applications who has worked in the info-tech industry for eight years and moved to Bangalore from Gurgaon to be closer to the startup action. The 33-year-old quit her job and launched Yipeedo, a website that helps plan your entertainment in the city, with her savings. “I had just had a baby and I felt that if I don’t do it now, I never will.”