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Development of DPI has steered growth of start-ups in the country: Sanjeev Bikhchandani, Founder & Executive VC, Info Edge India Ltd

Dec 09, 2023

  • State- level government incubation centres a remarkable step to empower students build their start-up: Ghazal Alagh, Co-founder, Mamaearth

 

NEW DELHI, 09 December 2023: Addressing FICCI’s 96TH Annual General Meeting and Annual Convention, on the theme- ‘The World’s Growth Engine’Mr Sanjeev Bikhchandani, Founder and Executive Vice Chairman, Info Edge India Ltd, said that the development of Digital Public Infrastructure (DPIs) in India in the last decade has steered the growth of start-ups in the country.

Addressing the session on ‘Start-Ups: Driving Innovation and Entrepreneurship’ on Day 2 of FICCI’s AGM and Annual Convention, Mr Bikhchandani said that Research & Development in India is currently in a better position than it was a decade ago, which has spurred a cluster of Start-up IPOs in the Delhi- NCR region. “While there is no shortage of funding for early-stage start-ups, support from Government of India in providing potential client markets in sectors like defence-tech, drones are, however, pertinent since government is the main buyer,” he said.

Ms Ghazal Alagh, Co-founder, Mamaearth (Honasa Consumer Pvt Ltd), said that the start-up ecosystem is evolving in favour of entrepreneurship. “The rising middle class in India has been a large enabler for consumer facing companies. State level incubation centres, setup by the Government of India, are a remarkable step to empower students to build their start-up, she said.

Mr Rohit Bansal, Co-founder, Titan Capital and Ace Vector Group note that measures such as providing a level playing field between public and private companies in terms of taxation are essential to boost the start-up ecosystem in the country. “’Now’ is a ‘Golden Time’ for bright minds to build a start-up,” he added.

Mr Neel Mehta, Director & Co-founder, Asteria Aerospace Ltd, noted that sectors such as Defence, Space, AI-ML, and Biotech, among others, are key beneficiaries of Deep Tech. “Public awareness with reference to the use of drones has improved significantly in India over the last decade. The deep tech sector had also seen new age job creation, and building on the right theme and ensuring proper execution can be the key for a start-up’s success,” he said.

He further stated that two years back when the Govt of India launched the Drone Policy, a 30 per cent rise in the number of start-ups in the drone sector was witnessed. The government is also financially supporting Research & Development in this sector.

Mr Vikram Chandra, Journalist and Founder, Editorji Technologies noted that start-up is the buzzword amongst the youth, but it is not always as simple as it seems. “It is a great place to be, but there are challenges as well. It is important to navigate between challenges and opportunities,” he said.

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