There is no dearth of funds for good startups: Amitabh Kant
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New Delhi: India’s G-20 Sherpa Amitabh Kant on Monday said the innovation and startup ecosystem is strongly positioned to find solutions to the challenges facing the world today. He also said that there is no paucity of funds for good startups. Kant linked ‘Fund of Funds’ (a fund that invests in another fund), access to credit, to a strong startup ecosystem at the Startup20 summit. Told the need to pay attention to plans and better operational arrangements.
He said that Indian startups have successfully provided scale solutions at low cost. Kant said that there is no dearth of funds in the startup sector and capital is always available for good startups. There is ample amount of funds available in the world and they are always on the lookout for good projects. Kant also talked about the strong success of India’s digital public infrastructure… biometric ID, digital payments and the startup ecosystem in this context. He said that the country has demonstrated its prowess in the field of digital technology.
India has more than 1,00,000 startups and 108 unicorns (startups with a valuation of more than $1 billion), he said. Kant also spoke about the need for self-regulation and better governance for startups and entrepreneurs. …Today’s startup will be tomorrow’s Fortune 500 company. Therefore, it is important to move with understanding at the financial level and the issue of governance system.
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