When 59 Chinese apps were banned in India, Anand Prasanna, the managing partner of Iron Pillar Fund, had remarked that a time will come when India will rule the world of Apps.
Prasanna said the ban on Chinese apps would be beneficial for tech companies in India, especially the start-ups. But along with these observations, he also said something which made the technology-savvy people in the country feel proud.
"There is no dearth of money or talented people in India. There are people available here with huge talent and expertise who can hoist India at the top of App development."
Coming as it is from someone who knows and understands the functioning of the Indian technology sector, Anand Prasanna's observations would surely make any Indian feel proud.
But what is the reason behind India not finding a place in the global technology map? According to Prasanna, it is the failure to amend the stringent laws and regulations.
Who is Anand Prasanna?
One of the founders and managing partners of Iron Pillar Fund Company, which looks at the investments of mid-range technology companies in India, his company manages assets worth $135 million of Indian technology companies. Iron Pillar has investors in many countries including America, Europe, Central Asia and India. Besides, he is also on the director board of two technology companies namely - FreshtoHome and Servify.
Prasanna was also a board member of NowFloats Company before it was taken over by Reliance.
Before reaching these important positions, Prasanna was the director of Morgan Creek Company. He was managing the Asia portfolio of the Company.
Prasanna has also worked for companies like Sequoia Capital, McKinsey and Company, Squadron Capitals in India, Asia and many other countries. He writes regularly for the global leadership community for extraordinary chief executives - YPO.
Iron Pillar Fund was started to help emerging technology companies focusing on business and consumer companies. The company was established in 2016 and its managing partners are Anand Prasanna and Sameer Nath. The idea behind the trends in the Chinese market inspired the duo to start the Iron Pillar.
Realizing that the efforts of a bunch of highly talented people would be required, they took on board a team of brilliant professionals for setting up the company. Anand and Sameer spoke to each other about the idea for the first time in 2015.
Anand says several companies are now ready to invest money for developing Indian apps. But the Indian laws and regulations are not as easy as in the US and China.
He believes that if some of these laws are amended it will help the youth of India to showcase their expertise in the development of apps. Prasanna says though India banned the Chinese apps, the sad truth is that a lot of Indian data is still with China.
Prasanna at Manorama Online Techspectations
Iron Pillar Fund managing partner Anand Prasanna will participate in the First Shows Manorama Online Techspectations 2020.
Manorama Online, which offered a digital face to Malayali's reading habits, is organizing the third edition of Techspectations on Nov 27 and Nov 28.
The summit, which comes in the backdrop of the global economic struggle to recover from the crisis triggered by COVID-19 pandemic, aims to explore new opportunities for returning to the path of growth.
Techspectations 2020 is being held on the theme "Digital-led 2021 | Define the new normal".
Techspectations is also an assembly of those who have made a mark in the technology sector, startups, heads of prominent brands and industry stalwarts, who will share their experiences.
First Shows, the soon to be launched OTT platform, is the title sponsor of the summit. 'Amritha Ahead', the Amritha University's online degree programme, is the knowledge partner.
For more details on Techspectations please visit www.techspectations.com.