India is at a point in its economic history where it’s at a pedestal that could make it one of the top five economies in the world in the next two decades. The knowledge and skill is pervasive in the skilled youth (or available labor) in India, the only thing needed is to effectively channelize the available resources and man power. This is currently being done by foreign investors and jobs being outsourced and now is when Indian entrepreneurs should take charge to utilize the resources and the man power. A lot of startup accelerators have been opened since the startup scene gained pace, like oravel.com and NEN (national entrepreneurship network) but recently, big players with big bucks have started pouring in capital.
Vinod Khosla, the silicon valley entrepreneur and Founder of Sun Microsystems has started a new startup accelerator by the name ‘Khosla Labs’ adding to a growing list of incubators and accelerators seeking to support entrepreneurs in the country. Srikanth Nadhamuni, head of technology at Unique Identification Authority of India (UIDAI), is the chief contributor towards setting up of this accelerator. A team is being set up to chart out the operations of the accelerator.
The venture would be based on the model of a typical venture capitalist firm. Khosla, having a first-hand experience in the area of starting up one’s own venture, has a keen hold on the sector. Having faced failures and peaks of success with SUN, which culminated into a big buy-out, Khosla Labs, and many others like Morpheus and Startup Village have enabled the Indian entrepreneur to dream big and take risks considering the scale and outreach of his prospective business.
The government is supporting ventures like the ones mentioned above. A lot of PPP (public private partnerships) are coming up like NSDC and purely governmental facilities like ITIs. Reverse brain rain is seen in effect here when Indian big-shots abroad start pooling in money in the Indian startups. It is a very favorable situation for Indian entrepreneurs as not only small but Big businesses also can benefit from the likes of these startup accelerators. In a country where most of the businesses are small and entrepreneurship wasn’t looked at like a viable career option (in its true sense) , growth of ventures like these is a boon especially for the youth.
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