In the list of the 50 most innovative new companies competing in ‘Startup Open’, a competition that recognizes startups with high-growth potential conducted by The Global Entrepreneurship Week (GEW) Chennai-based Frilp was listed among the 25 most innovative new companies in GEW. Frilp, short for Friend’s Help, is a social platform to discover shopping avenues, businesses and services through personalized recommendations from your friends.

Senthil Kandaswamy, co-founder, Frilp, says “Chennai is our base. Most of us happened to have been graduates of College of Engineering Guindy, Anna University, etc. Since we are from Chennai, the cost of operations also worked out to be less than, say, Bangalore.

Kandaswamy is aiming high on the funding front. “Our early stage funding came from the Centre for Innovation Incubation and Entrepreneurship, IIM-Ahmadabad. Currently, we are about to close a round of investment to take us to the next milestone from a set of top corporate executives from the US, Indonesia and India,” he exclaimed.

Contradicting the statement made by Kandaswamy, Davey of Zoho Corp says, “We have had many buyout offers in our 17-year history. That doesn’t attract us. We believe in creating good products and building a long-term business, and have fun doing it. This long-term focus explains why we haven’t accepted any external investment.”

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