Google Loon Project To offer Internet access in remote Indian regions.
Alphabet Inc., the parent company of Google has finally started to conduct discussions with various Telecom operators in India so that it can initiate its Google Loon venture. This step is taken after months although Mr. Sundar Pichai, the chief executive officer at the company succeeded in getting support for the venture through the governmental bodies.
During an interview, Mr. Rajan Anandan, the chief of Google India has not completely eliminated the possibility of establishing an Indian office for its initial investment fund for Google ventures in the times to come. The executive has refused to share more details and a timeline for the project to be effective as of yet.
The previous annum, the search engine giant established an office India to facilitate its last stage invest fund for Google Capital.
"Google Capital is here (in India). Google Ventures is only a matter of time... India actually has 50 Series-A investors, we only have five Series-D investors. So, there is a gap in late-stage investing and we decided to close that gap. What are the gaps? How can we as a company help address those gaps? So, that's the lens that we apply — we just don't want to do that because you have something," stated Mr. Anandan, the Google South East Asia and India’s managing director.
At this point of time, the company wishes to streamline its focus on looking after startups which are in their infancy stage rather than establishing Ventures. Anandan claimed that Google Capital will increase the rate of investments in the India market. Thus for the initial stages, the focus should be on mentoring than ventures.
The truth is that there are not ample people who are writing cheques. However, the company is devoted to increasing the products and quality of founders involved in the ventures.
So far Google Capital has made four investments in total and an individual from Google Capital has also been recruited.
The company has plans to make bigger investments in the region he explained. Particularly, for the Loon project. This venture is devoted to providing basic Internet access to remote areas of India. Telecommunication companies in India such as BSNL have been taken in confidence and it seems like a pilot program as per individuals having knowledge about the matter. The sources have asked to remain anonymous. The service provider with whom the company is negotiating is not officially revealed by the tech giant as of yet.
According to him, Loon actually works but on a rather simple level. However, the infrastructure of the service is in the air. The company will join hands with a local telecom operator since the regulator will be responsible to offer the Internet service. Thus various telecom companies in India are likely to be involved.
It is not possible for Google to offer Loon pilot without collaborating with local telecom companies. Thus this project is dependent on the support of both the parties. Remote areas will get Internet access if the negotiations are done swiftly.
No comments:
Post a Comment