Deeptech will be crucial for India, including areas such as artificial intelligence (AI), mobility, battery storage and green hydrogen, and Indian startups can capitalise on the opportunities in these sectors, said Amitabh Kant, former CEO of government think tank NITI Aayog.
“When future generations write the history of India, they must mark this decade as the moment India transformed from merely being a service provider to a global innovator, which is possible with the young startups of today”, Kant said.
The government had proposed setting up a new fund of funds for startups to boost early-stage investments, with a corpus of Rs 10,000 crore.
Startup Mahakumbh is a government initiative that aims to promote entrepreneurship as the country moves towards its goal of Viksit Bharat by 2047.
"No country in the world has such an extraordinary level of startups or a startup ecosystem like India’s. India is uniquely able to connect young startups with venture capital and funds of funds, creating an environment where disruption on a global scale is possible for these startups,” Kant added.
Citing the example of IT giant Infosys, Kant explained the importance of good corporate governance and encouraged startups to make it an integral part.
"Infosys, once a startup, became a successful global company due to its commitment to good governance. Whatever you do, make corporate governance a fundamental part of it. Ethical governance, strong audits, and sound financial management are essential, with self-regulation being key,” he added.
“When future generations write the history of India, they must mark this decade as the moment India transformed from merely being a service provider to a global innovator, which is possible with the young startups of today”, Kant said.
The government had proposed setting up a new fund of funds for startups to boost early-stage investments, with a corpus of Rs 10,000 crore.
Startup Mahakumbh is a government initiative that aims to promote entrepreneurship as the country moves towards its goal of Viksit Bharat by 2047.
"No country in the world has such an extraordinary level of startups or a startup ecosystem like India’s. India is uniquely able to connect young startups with venture capital and funds of funds, creating an environment where disruption on a global scale is possible for these startups,” Kant added.
Citing the example of IT giant Infosys, Kant explained the importance of good corporate governance and encouraged startups to make it an integral part.
"Infosys, once a startup, became a successful global company due to its commitment to good governance. Whatever you do, make corporate governance a fundamental part of it. Ethical governance, strong audits, and sound financial management are essential, with self-regulation being key,” he added.
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