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Jumpstartup pins hopes on tech space

Our Bureau

BANGALORE, April 9

JUMPSTARTUP expects to complete investing up to half of its $45-million fund by next year. About 30 per cent of the new companies to be funded would be in the tech space, said Mr Sanjay Anandram, Managing Director, Jumpstartup Fund Advisors.

Apart from the three companies it has funded -- Apnaloan, Qsupport Technologies and Smartcc.com -- Jumpstartup is looking to fund 8-10 more companies in a year.

Unfazed by the tech downturn, the company is focussed on start-ups. ``We understand and empathise with start-ups and entrepreneurs,'' said Mr Kiran Nadkarni, Director.

Valuations too have become more reasonable, according to Mr Ganapathy Subramanian, of the fund. ``Not only that, the number of business plans we receive has fallen,'' said Mr Anandram.

Does that mean fewer companies are seeking funds? ``No, it just means the really serious entrepreneurs are still looking for venture capital funding,'' Mr Nadkarni said.

The company is looking to fund tech start-ups in the IT and managed-services segment, Internet businesses and those with potential intellectual property -- semiconductors, system and application software, embedded systems in broadband, networking, and en terprise applications.

``Dotcoms are not the same as Internet businesses. The Internet is a business enabler and we want to fund companies that deliver operational efficiencies over the Internet,'' said Mr Anandram.