![]() ![]() ![]() ![]() Second, even if one focuses on a particular metric for success, there are no systematic measurement systems in place to track success on an ongoing basis. 1 These two objectives are likely in competition, particularly in a program aimed at small firms in the context of an agency such as DOE that hosts a large intramural research program. For example, the enabling legislation for the SBIR program states that the program should advance federal agency research and development (R&D) needs and also increase private-sector commercialization of innovation derived from federal funding. First, the DOE SBIR/STTR programs have several competing objectives, and different objectives compete with each other for priority in the design and implementation of the programs. In designing this approach, the committee faced several interrelated challenges. The committee aimed as much as possible to analyze the programs on a system-wide basis, focusing on the outputs associated with the DOE SBIR/STTR programs as a whole rather than on isolated examples of success (or failure). To examine the impact of the SBIR/STTR programs, the committee designed and implemented an assessment approach that was rigorous and systematic while recognizing the unique nature and objectives of the SBIR/STTR programs. This report now turns to the observable impact of the DOE SBIR/STTR programs on key dimensions of performance: innovation, commercialization, and employment. The previous chapter provided descriptive evidence around the landscape of SBIR/STTR winners. With a clear focus on innovation and growth, Truecaller is on an exciting journey to reach even more users with even better products,” said Shailesh Lakhani, managing director at Sequoia Capital India, in a statement.The Impact of the DOE SBIR/STTR Programs: Innovation, Commercialization, and Employment As smartphone usage increases globally, fraud and unwanted communication has followed, and Truecaller has turned into an indispensable platform for consumers and businesses. “Truecaller has made communication smarter, safer and more efficient across the world. The venture fund, the most prolific investor in Indian startups, has seen five exits this year including food delivery startup Zomato, and Indigo Paints. Truecaller will be the latest public exit for Sequoia Capital India this year. The firm - which reported an operating revenue of $57 million in 2020, up from $22 million in 2018 - has expanded to additional categories such as financial services in recent years in India. The service is popular in many parts of the world, but India, where everyone receives dozens of such calls each month, is Truecaller’s biggest market by users.Įven as Apple and Google have improved the caller ID feature in their mobile operating systems in recent years, and taken several other steps to curb spam calls, Truecaller’s offerings remain unmatched. Truecaller’s service allows users to avoid spam calls by identifying the callers, and also filters similar texts. I look forward to welcoming existing and new shareholders on this journey.” “Even though we are 12 years into our incredible journey, we believe that this is just the beginning and we have a clear strategy to continue to grow and develop our services and products. A listing of Truecaller is not only a milestone for Nami, myself and all of our employees who have contributed to building Truecaller to the fantastic platform that it is today, but also to the growing Swedish tech ecosystem,” he said in a statement Wednesday. Thanks to the strong feedback that we’ve received from potential investors, it feels very exciting to take the next step in this process. “One of our objectives this year has been to prepare Truecaller for an IPO. Six years ago, the firm engaged with some investors to raise an additional $100 million at a valuation of $1 billion, TechCrunch reported, but the deal never materialized. It has raised over $95 million over the years, according to Crunchbase. The firm counts Sequoia Capital and Atomico among its earlier investors. ![]()
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