SUMMARY:
- The closed-door meeting, organised by Startup Policy Forum (SPF), was held on April 24.
- Top startup founders including Ritesh Agarwal, Amit Jain, Aloke Bajpai, and others participated.
- Key proposals included creating an entrepreneur-led investment fund and boosting deeptech innovation.
In a significant move aimed at bolstering India’s startup ecosystem, a select group of Indian startup founders met Union Minister Piyush Goyal on April 24. The interaction, organised by the Startup Policy Forum (SPF), focused on strategies to drive growth, foster deeptech innovation, and simplify business operations in the country.
According to a report by Business Standard, the meeting brought together prominent founders such as Ritesh Agarwal (OYO), Amit Jain (formerly of CarDekho), Aloke Bajpai (ixigo), Shashank ND (Practo), Anirudh Sharma (Digantara), and Shruti Aggarwal (Stashfin).
Key Discussion Points:
- Investment Fund Proposal:
Founders proposed the creation of an investment fund led by entrepreneurs themselves to further strengthen startup funding opportunities. - Talent Retention and Return:
OYO’s Ritesh Agarwal emphasized the importance of attracting and retaining skilled global talent. He stressed that simplifying employee-centric policies would make the Indian ecosystem more appealing to top professionals. - Simplifying Business Operations:
Participants discussed ways to streamline company domiciliation back to India and called for simplification of merger and demerger processes. - Global Expansion and Deeptech Promotion:
The need for greater government support in helping startups expand globally and a renewed focus on deeptech innovations were also highlighted.
Speaking after the meeting, ixigo’s managing director and group CEO Aloke Bajpai said, “We came up with some action items for both sides — founders and government.”
This engagement follows Piyush Goyal’s recent meeting with Starlink executives regarding their investment plans in India, signaling the government’s intensified focus on expanding the country’s tech landscape.
Goyal’s Recent Stance on the Startup Ecosystem
The meeting comes amid heightened scrutiny of India’s startup ecosystem by Goyal himself. Earlier this month, during his speech at Startup Mahakumbh, the minister presented a stark comparison between Indian and Chinese tech innovation, sparking debate.
Goyal remarked that while Indian startups are largely focused on consumer-facing sectors like food delivery, China has made substantial advances in deeptech fields.
To further support entrepreneurs, Goyal recently announced a dedicated startup helpline to report corrupt practices among government officials and handle complaints of bribery.
In a bold vision for the future, Goyal stated last month that the government aims to nurture 5,000 unicorns in India over the coming years — a massive leap from the current number.
