Facebook co-founder bets on India's start-up market

Facebook co-founder Eduardo Saverin recently lauded the Indian start-up potential, saying that although the Indian start-up market is a few years behind China's, it is a market still worth betting on. He said this during a panel discussion at Forbes Global CEO Conference last month held in Singapore. Saverin added his investment company B Capital is deploying "a lot of dollars" into India and is thinking about the long-term success of new companies there.

Saverin believes that much of the growth in India will come from enterprise tech companies. These are tech companies providing services to businesses. He said that his company has put money into an electronic health records company and a contract management company.

"I think India is a huge market with just tremendous potential," CNCB reported him saying in response to a question on why India's start-up ecosystem has not generated better returns. "And I think as the market continues to mature, and as you get into a better macroeconomic environment, it is a market to bet on, combined with Southeast Asia."

India itself has a very vibrant start-up scene. India is the 3rd largest ecosystem for startups globally with over 77,000 startups.

(ANI)