Google joins hands with Band of Angels
From the article:
Said Alok Mittal, who is an active member of BoA and is also leading Canaan Partners, an early stage VC fund in India: “Google has signed up as an institutional member recently. There is a limit till which each angel can invest in a company. Beyond that, an institutional member can co-invest with any angel if it finds the idea or the company interesting.” Google could not be reached for comment.
Now this sounds like the beginning of exciting times for India, and the World. India is a hotbed of growth for technology training and startups. Joining the angel investing front there will build good will and opportunities for Google.
Continued investment in India will mean more money of course, but also more jobs. People in the US tech industry often worry about more jobs going to India, but funding like this often produces new companies and new jobs. It provides, if anything, for healthy competition. Not necessarily he competition of the underbidder, but the competition of upstarts and one day equals.
I believe, based on nothing but a my view of history, that increasing wealth in India will also increase the expectations of those on the receiving end. Today an outsource job to India might bring that man or woman little more than minimum wage. Perhaps a few years from now, they will rightfully be demanding higher pay, and benefits.
Three cheers for Google...again. :)
Your Google fan blogger,