Start-ups need more mentoring than funding: John Chambers
By Express News Service | Published: 29th November 2017 07:29 AM |
HYDERABAD: John Chambers, Chairman Emeritus of Cisco, who has been betting big on Indian start-ups, said on Tuesday that Indian start-ups would play a major role to boost economy and create jobs in the country. Almost all job creations will come from start-ups in the future, he added.
He noted that about one million youngsters enter workforce in India every month and the country is going through a major market transition. “India is the best place to do business and the best place for innovation now, and the government’s push towards start-ups, will drive the change,” said Chambers, speaking at T-Hub, the Telangana government’s incubator in Hyderabad, hours before the GES Summit.
According to Chambers, what Indian start-ups need the most is not funding but mentoring, access to market, and partnerships. Chambers stated that India and the US should work together in this respect.
“If you have to talk of the future of India and the US, you have to talk of the future of start-ups and innovation,” he added.
Chambers, who was formerly the chairman of the US India Business Council (USIBC), pointed out that participation of women in workforce and economy has to go up to ensure growth in GDP.
He also held discussions with Telangana IT Minister KT Rama Rao about the potential areas of collaboration.