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2015-10-14

For Nasscom, PPP will boost startups in India

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, Rajat Tandon today strongly advocated public-private partnership (PPP) to make startup business a successful story in India.

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, Rajat Tandon today strongly advocated public-private partnership (PPP) to make startup business a successful story in India.

"In terms of seeing a very successful Israel, if you look at the model which are running around the other countries as well, you have a bit of public-private partnership which takes place. It is in the US as well. The public-private partnership will make startup business a successful story in India," Tandon told PTI on the sidelines of the launch of IBM's Public Data Centre in Chennai.

On September 16, 2015 Vinod Khosla  Co-Founder, Sun Microsystems and Chairman, Khosla Ventures had told PTI that the startups announced by the government is a "bad idea" as it would minimise competition.

Khosla had also said government should do 'foundational stuff' like implementing Aadhaar and build infrastructure for providing telecom services.

The government should not establish venture funds when private companies were able to raise funds on their own, Khosla had said.

Tandon said that a collaborative effort is required at every end, from the policy to risk factor end, to support startup business in India.

"You have to support and the complete environment has to get together. It is not about A's money is needed, B's money is not needed and vice versa. I think it is collaborative effort which is required at every end. There is a need to support startups whether it is behind policies and taking risk. I think people have to get on it together," he stated.

"In terms of 'Startup India, Standup India', the honourable Prime Minister Narendra Modi has given a particular statement from the Red Fort, so absolutely it is helping us ( Nasscom) in terms of creating a buzz. There is now at least some support coming from the central government level as well. There are a lot of people and developers who can be converted into startup and grow the nation," Tandon added.

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