What is the future of startups in India?
I think genetically, the Indian blood is such that we believe in entrepreneurship. We always struggle to survive and thrive in challenging times. The amazing thing right now is that the world has changed, and India has changed significantly and therefore I believe that the Indian entrepreneur is next big player.
I believe the next decade, if not the next 2 decades, will belong to India. Investments in the US of USD 5 million or USD 10 million is purposeless because the level of investments are starting at a range of USD 50 or 100 million. So, there are very few opportunities for investors like me in the US. Therefore, when we explore the opportunities in this part of the world, there are 2 advantages, a)Familiarity and b) The opportunities make it a very fertile land for investments.
At present I have 5-7 startups I am invested in India. And I’m happy that they are all well on path to become unicorns.
Where do you see the future in India? Any sector – technology/ in genetic makeup/ education? Any area where India could be a leader in the world?
In my opinion, every sector is fertile in India to take the next step. Be it healthcare, technology, EV, pharma, etc. When you think about all the industries, the Indian market share is very low. That in itself is an opportunity for India. The lessons learnt from Ukraine/ China stories, all these things are making India are making it a place to be.
In life, it is important to be at the right time at the right place. And that right place is India and the right time is today.
There is a lot of talk on economic recession, do you believe they will affect the startups?
We will see some challenges, but it will weed out some good players, or people who may want to move in selectively and make an investment. There is never a bad time, opportunities will always be there. I am a Gujarati, and in Surat, I have an investment in a company that develops a balloon for blockages in heart vessel, Normally, what you witness is India, China, Vietnam are replicating products of someone else. This is the first time, an innovation in India by an Indian will go global. From Make in India, we have now reached the stage of innovate and invent in India. Our R&D is going to be such that we will be able to make a global kickback. People will respect as not simply as a low-cost resource but to as innovators and inventors.
