Ratan Tata, one of the most famous names in the Indian Corporate and Startup ecosystem, feels that India will take another decade to come on par with the global disruptive startups. At an event in Mumbai, organised by the VC Firm IDG Ventures, Ratan Tata said that the government needs to ensure more support to the entrepreneurs in order to encourage them for building on big and disruptive ideas.
He further added that the issue in front of the startup ecosystem is not the lack of talent, but lack of a supportive ecosystem. A number of disruptive ideas and talent go in vain because of the attitude of the ecosystem. The government needs to be involved on more platforms and levels to ensure a direct access to its schemes to make sure that whoever has a great idea, gets proper support from the respective authorities.
If a proper support from the government and investors is ensured, India can surely have huge disruptive startups coming out more often that we are seeing right now. He added that there is a large pool of individuals with great technical skills who get out of the colleges every year. The startup ecosystem should be poised to help them with the best of environment and resources so that their talent can be utilised in a proper way.
Ratan Tata is one of the very few corporate biggies in India who has made a successful entry into the world of startups. After supporting a number of startups in his personal capacity, Ratan Tata launched UC – RNT capital last year with over $300 Million to support the startups in the growth stages. UC RNT Capital has by far, invested in startups like MSwipe, Ola Cabs and YourStory.