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Silicon Valley Tech Incubator SPC Sets Up First International Location in Bengaluru

Bangalore - Sillicon Valley of India
Preeti Bali / 6:42 am / June 14, 2024

South Park Commons (SPC), a well-established tech community and early-stage venture capital firm, has announced its foray into the Indian market. Bengaluru, a hub for tech startups in India, will be the home to SPC’s first international location outside the United States. This expansion comes through a collaboration with Binny Bansal, the co-founder of the e-commerce giant Flipkart.

Established in 2015 by Ruchi Sanghvi, a tech industry veteran who stood firm on administration footholds at Facebook and Dropbox, SPC expects to engage India’s growing business people, technologists, and specialists. The association will give a strong climate explicitly intended to assist them with exploring the vital beginning phases of their professions, a period frequently alluded to as the “- 1 to 0” stage, where the essential spotlight is on distinguishing a reasonable business thought.

Thriving Ecosystem Attracts SPC to Bengaluru

“The energy in India is evident,” said Aditya Agawral, previous CTO of Dropbox and fellow benefactor of the SPC Asset laid out in 2018. “The Indian startup environment has arrived at a degree of development where it can support the uncommon ability pool that is the underpinning of SPC’s prosperity. This dispenses with the requirement for hopeful organizers to move to the US to assemble earth shattering, classification characterizing organizations.”

As indicated by SPC, Bengaluru has every one of the fundamental components to turn into the following superior worldwide innovation center. A minimum amount of exceptionally gifted specialized ability, prepared administrators from fruitful nearby organizations, and a unique innovative climate are undeniably viewed as urgent variables for SPC’s model to prosper.

 

Building on a Strong Foundation of Innovation

The early members of SPC played a vital role in shaping some of today’s leading companies in the field of artificial intelligence (AI), including Anthropic and Imbue. SPC intends to replicate this emphasis on fostering early-stage AI research and entrepreneurship within India. The organization also plans to leverage Bengaluru’s reputation as a magnet for talented AI researchers and budding AI-focused startups.

Global Expansion on the Horizon

Reports suggest that SPC is actively exploring the possibility of expanding into the United Kingdom. Additionally, the firm recently closed its third fund, although the specific investment corpus remains undisclosed. Having launched its first fund for $50 million in 2018 and its second fund for $150 million in 2020, SPC is also planning to establish a dedicated fund specifically for backing promising Indian startups.

 

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