Bee Focus

Indian origin startups to grow amidst the economic unpredictability

Amidst the unpredictability around the economic conditions globally founders, investors, and policymakers predicted that startups that are not tied with companies outside of India but are of Indian origin will do much better. During the 8th edition of the Economic Times Startup Awards held in Bangalore, they also discussed putting their focus towards entrepreneurial excellence. Even though the economic conditions remain uncertain, India has still managed to remain on top of its game when it comes to growing economies in the startup space as compared to a few developed economies such as Europe, the US, etc.

Nandan Nilekani, non-executive chairman of Infosys who was also present at the startup awards said “In spite of the many global challenges, the optimism about India’s future was pervasive and infectious.” Razorpay was picked as the winner by the esteemed jury that was formed. A Bengaluru-based startup was chosen as it had the potential to go global.

“I was positively surprised at the level of positivity for India in the discussions. At the same time, themes like the need to build sustainable business were very relevant,” said Ananth Narayanan, founder and CEO, Mensa Brands the e-commerce brand aggregator unicorn.

The guests of honour in the ET Startups Awards included Piyush Goyal Minister for Commerce and Industry, consumer affairs, textiles and food & public distribution, Ashwini Vaishnaw Minister for railways, communications, electronics and information technology and Basavaraj Bommai Chief Minister of Karnataka who has also launched various programmes and facilities to boost startups. The awards were presented by the guests of honour to the winners.

ET startup awards are seen as a mark of achievement for the startups that are growing and participating, the organizers and the Indian Startup market as to how progressive the sector has become. These startups will be collaborating with the Indian Government in regard to policies. In a frank conversation, both Mr Piyush Goyal and Mr Ananth Narayan discussed pushing the export market to other countries such as UAE and Australia which will help create more job opportunities.




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