Business and Markets

Wednesday, February 3, 2016

Startup India: Government’s role is to help build a start-up culture, not a start-up itself

Source: Governance Now;
Illustration: Ashish Asthana
Start-ups thrive best on innovation—that free-wheeling creativity which strives for value creation and doesn’t put monetization first. The core guiding principle of start-ups is: Create value; money will follow.

Let’s acknowledge it—the birthplace of start-ups as we know them today is the Silicon Valley, and the norm for a start-up there is to focus on innovation, not on monetization, at least during the build-up process. The entrepreneurial norm in India has traditionally been the reverse—to do the monetization bit first and then build things up. (That start-ups become greedy when they grow into corporations is a subject for another discussion some other time.)

There is a need to build a start-up culture as opposed to the profit-making culture that exists in today’s business environment. There should be a focus on IP creation, and solving India’s real problems—not only growth problems faced by the businesses and industries but also the economic, social and environmental issues facing the people at large.

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