Time to encourage start-ups

Wonderful industries can be unveiled if creativity and new ideas are encouraged. Instead of keeping this as an abstract optimism, every State should have an action plan to move forward in that direction. There is a lot to be done on the part of the government if the Atma Nirbhar Bharat, as envisaged by Prime Minister Narendra Modi is to be realized.

Hyderabad:Development is getting accelerated in countries that are encouraging meritorious commercial ideas and innovative technologies.

There are several inspiring examples of this. On the contrary, ours is a country where engineering colleges have become factories manufacturing unemployed degree holders, due to the fallen standards of education.

In this connection, the Telangana Minister for Information Technology, KT Rama Rao's suggestion to accord recognition and encouragement to the inventions by BTech students is worth serious consideration.

Wonderful industries can be unveiled if creativity and new ideas are encouraged. Instead of keeping this as an abstract optimism, every State should have an action plan to move forward in that direction.

There is a lot to be done on the part of the government if the Atma Nirbhar Bharat, as envisaged by Prime Minister Narendra Modi is to be realized.

Much is needed to be done for the realization of the Prime Minister’s aspiration to turn today’s startups into multinationals of tomorrow.

As resolved by the Entrepreneurial and industrial summit held at Hyderabad, trust, encouragement and investments are crucial to do wonders.

Any challenge can be easily overcome if institutional encouragement is given to the sharp and inventive ideas from entrepreneurs and financial assistance is assured to their enterprises.

While the Covid-19 crisis has smashed the aspirations of numerous startups in our country, the neighbouring People’s Republic of China, on the other hand, has emerged as the World’s hub of manufacturing industries during the same period.

China is also taking advantage of the technological opportunities cropping up from time to time. Our governments are claiming that their goal is to develop personas that can generate employment opportunities rather than seek employment within the country.

The situation in the country can improve only when governments give priority to strategies and plans that encourage and enflame new ideas.

Countries like Israel, UK, Russia and Germany are following school level curriculum that develops among students special interest in computer science.

This is helping them achieve greater engineering inventions. Such commitment is lacking in our country.

This lack of commitment had prompted the Tarun Khanna Committee to lament that when compared with the US, entrepreneurs are made to struggle four to five times more in India to get funding for their startups.

Institutions like the JNTUH are encouraging their students to start their own business after the completion of studies. Such encouragement to launch start-ups should become part of the national policy.

We should evolve a transparent mechanism that will identify and encourage merit so that new start-up ideas are not nipped in the bud.

The story of Whatsapp clearly demonstrated that degrees alone are not qualifications for success.

Having failed to get a job at Facebook, Brian Acton and Jan Koum created Whatsapp in 2009.

After five years, they sold it for a staggering price. Facebook that had denied them job acquired their app for 1930 crore USD (nearly Rs 1.25 lakh crore).

The success stories of Paytm, Flipkart, Swiggy, Byjus and Big Basket reveal to us the strength of startups.

In the backdrop of the estimates that the 5G era will create newer opportunities for Digital India in health, education, hospitality and agriculture sectors, more creative inventions should evolve in the country.

With the aim of paving the path to such development comprehensive curricular reforms, training to teaching staff and proper encouragement to quality inventions should take place.

A policy towards that end will alone shine bright as Samartha Vikas that can help unveil Atma Nirbhar Bharat.