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Venkatesh Ramarathinam, founder, VURAM, speaking at Thiagarajar College of Engineering in Madurai on Thursday.
| Photo Credit: R. ASHOK
More foreign investments are likely to flood the country in the coming years which will create a conducive environment for startups in India which required huge infrastructural development, said I.A.S. Balamurugan, Managing Partner, ANICUT Capital.
Addressing an open house for startups from southern districts, organised by Technology Business Incubator of Thiagarajar College of Engineering here on Thursday, Mr. Balamurugan said people had emerged resilient after various major crises like Black Death, small pox, Spanish flu, plague and recently COVID-19. Demonetisation saw the flourishment of unified payments interface in India.
India, being a capital-starved country, would attract foreign investments from countries with lesser people to cater to, for creating the huge infrastructure the nation still required. Entrepreneurs had good scope in sectors such as health, logistics service, fintech, fast-moving consumer goods and clean technology.
The entrepreneurs, besides generating jobs, could be successful even with smaller units if they could impact society with their services or products and become an integral part of people’s lives.
However, he advised them to go in search for funding only if they could not scale up their innovative ideas without additional funds.
Venkatesh Ramarathinam, founder of Vuram, said entrepreneurs should be clear about why they want set up a startup in the first place. They should have an unwavering focus and belief in the success of their ventures and should not get distracted by other enticing opportunities.
Mr. Ramarathinam said incentives to workers would help in building up the venture. ‘Have a mix of external and homegrown talents and always be open for change for betterment,” he said.
Hiring the right people and respecting and rewarding them will help, he added.
K. Hari Thiagarajan, Trustee of TCE, said it was important for the entrepreneur as to how he/she would change the life of the people for the better and keep trying to innovate. He added that the start-up open house would become an annual event in the college.
M. Palaninatha Raja, Principal (in charge), and S. Chandran, Dean – Students, spoke.
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