Entrepreneur launches incubation firm

Venkat Rajendran, who founded Deccanet Designs before selling it to Flextronics, has started an incubation firm, Billionways.

The firm will not only incubate the start-ups with mentoring but also provide initial seed capital.

Billionways will focus on ventures that are primarily in the technology and retail space. According to Rajendran, he has access to $50 million from which he and his group of partners and directors can invest from.

Under the technology space, Billionways has invested in IT training, software product testing firm in China, an RFID start-up in Mysore and in a Bangalore-based fashion boutique which focuses on women's wear

"It is not a typical VC firm. We will promote, invest and advice entrepreneurial ventures. Telecom is an area which is close to me and we will be looking at this space," Rajendran added.