Amitabh Kant, the CEO of NITI Aayog, recently commented on having surplus funds for startups; he said, “There is no shortage of funds for startups with strong business models”, The statement boosts the morale of entrepreneurs who are struggling to hunt for funds.
He added, “Indian startups have successfully demonstrated the power of population-scale solutions at a low cost.”
The comment was made at the Startup20 Shikhar event, held on Monday, 3rd July, in Gurgaon, Haryana, wherein he focused on raising matters such as credit enhancements, fund of funds, and a robust startup ecosystem.
While addressing the event, Minister of State for Commerce and Industry, Som Prakash, said, “There is a need for fostering global innovation and startup ecosystem that values culture and diversity considerations. India is climbing on the global innovation index because of its dynamic startup ecosystem.”
Kant further emphasized on how investors are seeking startups with potential and solid business plans. Investors are keen on supporting these startups, and are willing to address the issues and hindrances.
India has witnessed a significant growth as far as startups are concerned, with initiatives such as Startup India, funding programs, accelerators, incubation centers etc. Amitabh Kant also pointed out how India has had success in the digital space.
Kant’s statement has put light on the availability of funds and investors, who are interested in supporting innovative ventures. With startups having the right approach, they have the potential to secure funding and thrive in India’s dynamic startup ecosystem.
“Startup innovators start innovating and lose out on good governance. Today’s startup is tomorrow, a Fortune 500 company. So, the issues of financial propriety and governance is important,” said Amitabh Kant.
He further added, “We must build a culture of great, good governance among startups, which must be done by startups themselves.”
