Paytm Stands Tall; Announces INR 10 Cr Fund For Mini App Developers The latest development has been welcomed by the Indian startup ecosystem, which has been up in arms about Google's Play Store policies

By Debarghya Sil

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Paytm
Paytm founder - Vijay Shekhar Sharma

After the announcement of Mini App store to fight against the monopoly orchestrated by Google in its Play Store, Paytm founder Vijay Shekhar Sharma on Thursday announced INR 10 crore investment fund for mini app developers at a virtual conference.

The developer conference also had Vishal Gondal, founder and chief operating officer, GOQUii, Anand Lunia, general partner at India Quotient, Rajesh Swahney of GSF Accelerator and Murugavel Janakiraman of Matrinomy.com as speakers. Around 5,000 developers registered for the virtual conference.

The latest development has been by and large welcomed by the Indian startup ecosystem, which has been up in arms about Google's Play Store policies.

However, after facing backlash, Google has decided to extend its deadline for Indian app developers to comply with its play billing system to April 2022 from the original date of September 2021.

The Fallout

The move to support indigenuous app developers has come days after Paytm was taken down by Google from its Play Store for violating the company's gambling policy. Within a few hours of the move, Google had restored the Paytm app on the Play Store, but Vijay Shekhar Sharma, has since then gone on record multiple times expressing his discontent with Google's high-handed behavior of abusing its monopoly over the Indian internet ecosystem.

Many other prominent Indian entrepreneurs, including arch-rival PhonePe's founder Sameer Nigam, have also come out in support of Paytm's fight against Google.

Following this Paytm launched its own Mini App Store. Mini apps are a custom-built mobile website that gives users app-like experience without having to download them.The payment unicorn is providing listing and distribution of these mini-apps within its app for free.

Later, Vijay Shekhar Sharma's Paytm First Games (PFG) also announced a fund worth INR 10 crore for indigenous game developers and studios. In a press statement, the company said that PFG will provide a launchpad to homegrown game developers and design studios focused on Indian culture and folk tales

Debarghya Sil

Entrepreneur Staff

Former Correspondent

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Side Hustle

Getting Laid Off Allowed Him to Focus on His Sentimental Side Hustle. Now He's on Track to Earn Over $700,000 in 2024.

Alaa El Ghatit wasn't fulfilled at his day job. So he started LifeOnRecord to help people record memories and well wishes.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Airbnb Renter Discovers Hidden Door, Says Police Confirm There's a Secret Unit Upstairs With 'Surveillance': 'A Terrifying Experience'

One bride-to-be was in for a not-so-welcome surprise when she discovered a secret door in her Airbnb rental.

News and Trends

Payment Fintech Startup Mswipe Raises USD 20 Mn From Alpha Wave Ventures and Others

The Mumbai-based startup plans to use the raised funds to increase its merchant payment network, and further strengthen product development and technological infrastructure.

Leadership

3 Excellent Problem Statement Examples

A problem statement aims to identify a problem and find a solution. Continue reading for how to write one and examples to base yours on.

Starting a Business

4 Hard Truths You Must Accept to Become Successful

As you buckle up for entrepreneurship, remember – it's not just a journey but an epic adventure towards enduring achievement in the dynamic business world.