Page 37 - August-2020-Issue

ARTICLE

sector hubs/technology hubs, cit-
ing examples of London, which
is a Fin-Tech Hub and Tel Aviv, a
Cyber Security Hub.

PSEs like GAIL are giving oppor-
tunity of personal hearing by the
CMD before final nod is given on
fund support. Globally renowned
IOC not only facilitates function-
ing of startups funded by them,
handholding to solution provid-
ing in case startups are in diffi-
culty as they are guided by a se-
nior management team member
also becomes the first customer of
the Startup generally for 10 years, scratch and making one of the they need to make distinction be-
a great boost to those Startups. best Movers & Packers organiza- tween a Start-up & Business and
Oil PSEs have set up a Startup tions of the country. As they felt, advised them to understand mar-
Fund and are very good plat- persuasion with right intent helps ket dynamics, whether product is
form for new startups to capital- a business to grow and increas- scalable, what if startup don’t get
ize its market base. Just imagine ing the numbers in Balance-sheet funding in stipulated time, will
if a Startup keeps his product on should not be the primary goal, be able to manage to run? These
any Petrol Pump or get access of but the customer satisfaction. will help reduction in incidences
customer base of such big PSEs, of early failures.
they can approach to thousands Academic and Industry Collabor-
of customers easily. Similarly, As ations have been felt time and Funding Partner & Venture
if startups align their work to as- again to bridge the gap between Capital advice to startups has
pirational districts identified for need of the industries and in- been, let there be a reason to make
CSR, a good portion of such fund novations & solutions needed. a startup, identify problem and
could be availed by startups as Learned academicians felt that wealth creation be an outcome,
could be understood from BHEL. given the pace of Startups in the don’t raise capital too fast, raise
Financial institutions like NIES- education sectors in time to come when needed, remain customer
Academic Institutions can think focused and while planning to
BUD, SIDBI & KVIC and State
Missions are also source of fund- of one course per semester which raise capital-choose your inves-
ing and support to Startups, can be delivered online. Linking tors carefully.
youngsters and first generation Startups with youth of the coun- The emergence of Government
entrepreneurs with facilities like, try can change the canvas of em- e Marketplace (GeM) in provid-
back ended subsidy to set-up ployability of youths and emer- ing market access to entrepre-
own units and in the process, au- gence of entrepreneurs in India. neurs and startups as a Single
tomatically the loan component For youths going for Startups, Window option for Sellers to
gets adjusted in the bank after reach out to Govt. Departments
paying the first installment to the & PSEs facilitating online pro-
bank; different stages of Startup A host of foreign curement of common use goods
Funding - Pre-seed stage, Seed nationals are relocating and services is also gaining at-
stage, Angle Funding, Venture tention. Visibly this looks to
Capital Fund and Traditional to India to fulfill their bring transparency, efficiency
Funding and also skilling with startup ambitions in tech and speed in public procure-
desire to go for entrepreneurship. ment, a new era of market link-
The leading Entrepreneurs, like sector, despite stumbling age. As some Founders shared
Mr. Ramesh Agarwal is one of the blocks. challenges faced by her, distress
successful Ventures starting from of women that made to establish

Kaleidoscope May, 2020 37