STARTUP SPECIAL .......Startups have Given Today's Youth a Sense of Optimism

Startups have Given Today's Youth a Sense of Optimism





Harsh Goenka, chairman of RPG Enterprises, one of the few Indian businessmen active on the social media platform Twitter, shares his view on the startup mania

On the startup phenomenon

I see it as a renaissance of entrepreneurship fuelled by personal ambition and confidence in the India growth story.The biggest challenge that successful businessmen in the telephony and infrastructure sectors had was the fight for capital and stringent regulatory requirements. Contrast that with the ecommerce startup businesses and it seems that availability of funds is relatively much easier on the basis of an idea. Technology has the power to transform lives and it will disrupt busi nesses in future and in that sense it is extremely en couraging to see a Tesla and Amazon as also Flipkart, OLX and Pay tm. As far as the traits of suc cessful startup leaders are concerned, they are very different -these are adventurous, risk-taking, non-hierarchical, technology-focused, and that ecommerce is not a highly regulated sector helps.

On the chances of startup founders going on to become industry captains

The successful, young entrepreneurs have plenty of imagination and resilience at a very young age. If they continue to drive business performance, respect their people while extracting their best and create shareholder returns over time, they will etch their names as captains of industry. People heading Flipkart and Ola have already gained huge respect and recognition from everyone for being change agents and for spurring a new wave of entrepreneurial activity.

On the influence of startup founders on today's youth

Media has highlighted the success stories of the ecommerce sector. The valuations are gigantic. Investors are chasing ideas with bags full of cash. That has given a sense of optimism to today's youth. This is good. However, behind the scenes there is sheer hard work, discipline, enormous pressure and the coupled anxieties. We must celebrate entrepreneurship and there should be a healthy balance between those opting to start a new business and those opting for a career and working in one.

ETM15NOV15