On the latest episode of The Capitalmind Show, we talk to Deepak Shenoy about the startup ecosystem in India. While we have all heard the success stories of unicorns like Byju’s and Flipkart, what is the day-to-day reality of an average startup? Is there enough support from the government and the private sector?
America’s great advantage, going back to the 19th century, has been their availability of capital. The industrial revolution was kickstarted because American banks were able and willing to lend money to individuals with great ideas. Comparatively, Indian financial institutions have been relatively unwilling to loan money to those individuals or organisation without assets to put up for collateral. Has this changed enough in the last few years?
Moreover, the successful Indian startups of the last few years have been those that have reworked a Western idea to fit Indian society. Ola is an Indian version of Uber, Flipkart is an inspired version of Amazon’s e-commerce arm, and even traditional IT giants like Infosys and TCS have offered SaaS models rather than pure research and development. Will we ever see true innovation coming out of an Indian startup?
Shenoy, the CEO of Capitalmind Wealth, answers all these questions and more. Are government policies matching their rhetoric on startup creation and support? Do we have the infrastructure – literally and metaphorically – to support nascent companies in India? Is there enough of a middle class that is willing take risks in their career and build their own firm?
You can also listen to this video as a podcast here.