Indian start-ups are now looking towards fresh overseas business destinations even as the US is becoming more and more unfriendly towards overseas start-ups. Avijit Sarkar planned to launch a Fintech start-up in the US in order to have access to a large market. However, he soon realized that it is cumbersome to obtain a US startup visa and expenses for incorporation are also very high.
Avijit then came across the startup program of Estonia and immediately decided to go for it. In fact, it did not even require him to visit Estonia and obtained virtual addresses within a time span of some weeks. Value added tax number was allotted to him within 15 minutes. The ease of doing business is a very big factor, said Avijit, as quoted by the Economic Times.
As a result of having been incorporated in Estonia, we can easily hire overseas talents, added the aspiring Indian entrepreneur. Capone Research is now one among the overseas Indian start-ups. It has applied for funds from the EU and even obtained approval in-principle, said Avijit.
As Avijit has headquartered his startup in Estonia he has access to all member states of the EU. Estonia the nation where Skype was launched is no more a stranger to start-ups. It has 13 accelerators, incubators and a robust network of venture capital and angel investor.
The UK, the US, and Singapore were traditional overseas business destinations for Indian start-ups. However, Ireland, Estonia, Spain, Israel, Chile, Qatar, Saudi Arabia, Dubai and South Korea have emerged as the latest overseas business destinations for Indian start-ups.
CloudBoost based at Hyderabad signed up in 2015 for Startup Chile. It is a startup accelerator program in the South American Nation with duration of 8 months.
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