The TiE-ISB Connect, which has just completed a three-day start-up summit here, has asked the Government to step in to support fledgling entrepreneurs. It believes Government support goes a long way in building an ecosystem that helps attract investments and create jobs in the long run.

“About 47 per cent of all jobs created in the US in the last 15 years are by new enterprises. The Government support is crucial for new companies built on newer and innovative ideas,” Ananth Rao, Convener of The Indus Enterprises-Indian School of Business Connect, told Business Line .

The Connect held a CEO Conclave in which N. Kiran Kumar Reddy, Andhra Pradesh Chief Minister, Pradeep Chandra, Principal Secretary, Industries and Commerce, and B.R. Meena, Managing Director of Andhra Pradesh Industrial Infrastructure Corporation, spoke.

“We have asked the Government to come out with a policy and 10-year road map to foster entrepreneurship. We also wanted the Government’s support for developing incubation centres. They should either provide matching investments (when a start-up gets angel funding) or give loans,” Ananth Rao, who is also the Managing Director and Chief Executive Officer of Focus Ventures, said.

“We are not saying incubation is the only way to develop entrepreneurs. But we feel it is a very powerful tool,” he said.

The other suggestion the TiE-ISB Connect came up with was support to skill-development organisations. “They play an important role in creating human resources that are necessary for new entrepreneurs. New ventures cannot come up just like that. A lot has to be done on different fronts,” he said.

>kurmanath.kanchi@thehindu.co.in

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