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A chief of a start-up that focuses on providing enterprise software solutions for education institutions feels that it is essential for the Government to come out with clear policies and procedures for the start-ups.
Reacting to the Budget proposal of a ₹10,000-crore fund for start-ups, Unni Koroth, CEO of Foradian Technologies Pvt Ltd, told Business Line that more than money what start-ups need from the Government is lucid policies and procedures for running and growing the company. “We need better and reliable infrastructure. Give us quality internet connection and reliable electricity without any outage. If the Government can surprise the start-ups with quality infrastructure and policies, we can surprise by achieving with a vibrant and high growth start-up ecosystem in India,” he said.
Quality IssuesHowever, Abdul Salam, Cofounder and CFO of Foradian Technologies, said he will be curious to see how this fund reaches start-ups who will grow using the fund and help in job creation. “In our case at Foradian, we used to avoid government aids fearing the documentation and procedural delay. The precious time of the entrepreneur spent on these kinds of activities should show actual ROI (return on investment),” he said.
Long-term visionThe push for increase in quality of education sector by the addition of new IITs and IIMs is a clear indication of long-term vision for youth of the country. It will benefit the industry and country in the long term.
This will generate more self-motivated people who will start companies on their own and will also provide highly qualified professionals to aid the start-up ecosystem, he said.
Naren Koduvattat, Chairman and Managing Director of the Mangalore-based i-POINT Consulting Services Pvt Ltd, said that the allocation of ₹10,000 crore for start-up capital is huge. This can trigger innovation and small enterprises.
The initiatives such as the National Rural Internet and Technology Mission, virtual classrooms and new teacher training scheme can be the true game changers, he said.
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