Hey Startup geeks, Its a great news for Hardware startups..!! Hax is going to invest in INDIAN startup Hardware Platforms...!!! Till now the Hax haven't invested in Indian startups,it plans to invest in Indian Hardware startups..!! Great news for Indian Hardware startups...!!! WHY????
Hax is a china based startup accelerator is
planning to invest $100k each in Indian startups working in the hardware
sector.This announcement was made by BENJAMIN JOFFE,general partner at HAXACCELERATOR in an event organized by IoT Bangalore.
JOFFE also launched a global report on the
hardware sector during the event.As per the report, currently, US leads in terms of investments in hardware
sector followed by China and France.
JOFFE noted that India is far behind China in the
manufacturing sector and said that “ India has a great opportunity if there are
more incubators and resources”.
Shenzhen district in China is about call as “SILICON VALLEY FOR HARDWARE”.JOFFE said that China has the cost advantage,Scalability and the speed contributive to manufacturing. The Hardware reports acquisited that,after US, it was China and France that have scraped in the most investments in Hardware sector.
Hax accelerator has suspected the offices in SILICON VALLEY AND NEW YORK
which holds a 4-month programme for around 12-early startups in China’s
Shenzhen district.The accelerator also invested in over 160 startups in the
field of IoT,Robotics and health sectors since it is started 4 years ago. Hax
addressed that “India lacks the ecosystem to bring product faster into hardware
market”.