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Startups are Startups and not MSMEs. Their unique needs, growth trajectories, and risk profiles demand separate policy frameworks.
Dear Government of India,
We write to share crucial insights about India's startup ecosystem and propose actionable steps for its growth:
1. Startup funding is a strategic investment in India's future, not an act of charity. Every rupee invested should yield manifold returns for our nation's economy.
2. Our Startups are an expression of India's most innovative minds. India must nurture their growth in the larger context, invest equally in developing human capital and the ecosystem supporting these startups.
3. The future of Indian entrepreneurship lies in our Tier 2 and Tier 3 cities. Young innovators there, harbour ambitious dreams that deserve recognition and funding. Let's bridge the urban-rural divide in startup opportunities.
4. Startups represent a distinct category of business entities and should not be conflated with MSMEs. Their unique needs, growth trajectories, and risk profiles demand separate policy frameworks. Consider establishing separate financing/funding lines that are sensitive and have insights into the startup dynamics.
5. As laboratories of innovation, startups can establish India as a global innovation hub. Let's harness their potential to build our nation's reputation as the world's innovation capital.
6. We must strive to ensure that at least 80% of registered startups succeed. Consider implementing mechanisms to salvage failing startups through acquisitions, mergers, or strategic resale opportunities. Our Startup model does not necessarily have to follow the capitalist US way for we seek innovation, national growth, human capital development and employment from these initiatives.
7. In our culture, failure carries a heavy stigma. We need policies to rehabilitate and re-inspire entrepreneurs whose initial ventures didn't succeed, transforming setbacks into comebacks.
8. Investors fund ideas and not the corporate entities. Innovative ideas drive value creation and corporates are only a means to the end.
India requires bold action and active participation of the government to transform India into a global startup powerhouse.
Yours
Outrageously Yours
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