Tenacity, courage must for startup founders to execute vision: Ratan Tata
Ratan Tata, Chairman Emeritus of Tata Sons, October 15 said major technological leaps are taking place in all sectors of the startup ecosystem, be it healthcare, medical treatment side, or even online and manufacturing.
Tata is also positive of the growth story of Indian startups, and would like to see it grow further.
“Opportunities for startups exist, but they must be grabbed by the tenacity, imagination and courage of the founders,” said Tata.
When asked about how he got to investing in startups, he said it was, “Partly by accident and partly by happenstance.”
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Tata said he always saw the startup sector as an exciting space, but he was not able to take up the sector during his tenure as chairman of Tata Sons due to conflicts of interest and he made small investments in startups after his retirement.
“It was 2-3 year learning experience interacting with the best minds of a certain age group,” said Tata. When asked how he chose his investments, Tata said, “In my case, it was selection by intuition than by numbers. Very importantly, it was also through my judgment of the founders. I would make my conclusion by gauging the attitudes, and maturity levels of these founders,” he said.
When asked what makes an ideal founder, he said, “There must be a fire in his belly to find a way to do things better, and have the courage and tenacity to execute it,” he said.
On the preferred source of funding for these companies, he said, “I hope that the founders would get money from within the country,” he said as these startups should not get whisked away into being part of a larger entity.
“Such companies do grow well. But I find it unfortunate that they are not part of India,” said Tata.The Great Diwali Discount!
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