* TiE50 Startups have historically enjoyed patronage from Venture Capitalists and Private Equity players
* 2013 finalists raised approx. US$ 1 billion (approx Rs 6000 crore)
Mumbai, May 14, 2014: California (USA) based The Indus Entrepreneur (TiE) has shortlisted Mobile technology start-up Swipe directly as a semifinalist in TiE 50 Top Startup 2014 list. This is a feather in Swipe’s cap considering that TiE50 recognizes World’s most enterprising technology startups and the entry to this coveted club is any tech startups’ dream come true.
Since the inception of TiE50, its track record of the past annual rankings of Top 50 Startups shows that 94% of the winners and finalists have been funded, attracting billions of dollars in investments. Many of these companies have been acquired, merged or went public. TiE50 awards are announced each year at TiECon, the world’s largest conference for entrepreneurs. Participating technology startups become part of a vast ecosystem of venture capitalists, angels, and entrepreneurs. Besides, they get significant investor exposure, online virtual showcasing and technology and business partnering. US $ 1 billion (approx. Rs 6000 crore) were raised by TiE50 2013 Startups.
Mobile technology start-up Swipe has been one of fastest-growing tablets manufacturer in India, having grown at an above-market rate of 35% since inception quarter-on-quarter for the last 6 quarters. The company’s strategy is to capture market shares in Tier-2 and Tier 3 cities and towns rather than to fight it out in the metros. This strategy has worked wonders for Swipe by virtue of having pole position in the States of Rajasthan, Jammu & Kashmir, Chandigarh, Punjaband certain North Eastern States.
TiE50 is TiE Silicon Valley’s premier annual awards program keenly contested by thousands of technology startups worldwide. Awards are announced at TiECon, the world’s largest conference for entrepreneurs. TiE is a global, not-for-profit network of entrepreneurs and professionals dedicated to the advancement of entrepreneurship. TiE provides a platform for mentoring, networking and education for technology entrepreneurs worldwide and their global network comprises 54 chapters located in most major North American, Asian and European countries and cities with more than 14,000 members across 13 countries.
Mr. Shripal Gandhi, Founder & CEO, Swipe said: “The TiE50 Technology Awards Committee has shortlisted Swipe based on their research of hundreds of technology start-ups worldwide. And our honor is doubled with the fact that Swipe did not have to pass through the normal screening process that most of the applicants of TiE50 Startups award are subjected to. This is really good news for India and its entrepreneurial spirit.”
