“When future generations write the history of India, they must mark this decade as the moment India transformed from merely being a service provider to a global innovator, which is possible with the young startups of today”, Kant said.
The government had proposed setting up a new fund of funds for startups to boost early-stage investments, with a corpus of Rs 10,000 crore.
Speaking at the Startup Mahakumbh, an event that seeks to promote innovation, Kant reiterated the Union government’s efforts to support companies in the deeptech category.
“No country in the world has such an extraordinary level of startups or a startup ecosystem like India’s. India is uniquely able to connect young startups with venture capital and funds of funds, creating an environment where disruption on a global scale is possible for these startups,” Kant added.
Citing the example of IT giant Infosys, Kant explained the importance of good corporate governance and encouraged startups to make it an integral part.
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“Infosys, once a startup, became a successful global company due to its commitment to good governance. Whatever you do, make corporate governance a fundamental part of it. Ethical governance, strong audits, and sound financial management are essential, with self-regulation being key,” he added.
