Snapdeal promoter to foster tech entrepreneurs

Snapdeal promoter Jasper Infotech is all set to establish its own mobile-focused technology incubator in a bid to grab the lead in India's hyper-competitive e-commerce market, as reported by Economic Times.

According to a a Snapdeal senior executive, the incubator will foster early-stage ventures operating in the mobile technology space.

"We are in the process of structuring the incubator, and plans are, more or less, in place. We will start looking for companies once we have an interface for it, which will be separate from Snapdeal," said Abhishek Kumar, Head-Corporate Development, Snapdeal told ET.

Kumar further informed that Snapdeal will incubate about eight ventures for a period of two months per batch, and will set up a separate team to run the initiative.

Both Snapdeal and Flipkart, India's largest e-commerce company, see more than 50 per cent of their overall sales coming through mobile, a number that is expected to increase substantially going forward. The incubator could also serve as a feeder for Snapdeal as it looks to make more acquisitions in the mobile space.

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