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“India is a great experimental lab and Bengaluru, which hosts nearly 30 per cent of about 3,000 start-ups in the country, is a great place to learn about the ecosystem of first generation entrepreneurs,” said Harvard University Tarun Khanna on Monday.
Speaking at the IIM-B event, he said that in India, an entrepreneur needs a financial and psychological safety net.
“There is a mindset against failure which needs to be addressed,” he added. India also needs to provide immediate and intense stimulus, and address the cultural context to nurture entrepreneurship, he pointed out.
“We need to evaluate incubators. A few are successful, most are not. We need to retire the ones that are not viable, help the good ones mature and release resources for new ideas,” he explained.
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