Post-Budget quote from Co-Founder and CEO of Uniken Sanjay Deshpande:
The start-up scenario in India is very promising. The space took-off about 5 years ago and has since been on a rapid growth trajectory. With the right kind of investment in nurturing start-ups and creating an environment to foster innovation, India has the potential to lead way with disruptive technologies. With the right kind of government support, India can create and consolidate a position of being a Product Nation.
The government’s stated objective to focus on technology product start-ups is a step in the right direction.
It is, also, heartening to see the government take note of some of the inherent challenges this emerging sector faces and make attempts to overcome these. We believe that the nationwide incubation and acceleration infrastructure for start-ups as well as the 10,000 crore kitty to aid start-up funding is a welcome initiative.
The challenge before the government, today, is the need to create a global brand for India elevating the status from being an outsourcing hub, to being recognized as an innovation hub. And, I believe that the defined focus on fuelling entrepreneurship and supporting the start-up ecosystem is a great initiative by the Indian government.