News Tech: Trade and Industry Minister Piyush Goyal on Wednesday urged investors to focus on small-town entrepreneurs to encourage innovation and boost domestic capital mobilization. He said India’s hinterland is rich in top talent and venture capital funding needs to reach tier 3-4 cities and towns. Many of India’s entrepreneurs have roots in small towns and rural India, which started as small entities, the minister said.
It’s also an effort,” he said, expressing concern that many good ideas in the emerging stage are being sold “very cheaply” and hijacked by very small ticket checks. Lack of alternatives by either investor. “We also need to look at clawbacks, tools, and understanding and compassion for the people bringing their ideas so that we can make better deals,” he added. He also said that India’s exports will reach US$400 billion this financial year and that start-ups could make a significant contribution to reaching the US$1 trillion target each for exports of goods and services.
“I propose four focus areas for the industry: to investors and investors, to promote innovation and future technology, to promote domestic capital mobilization, to quickly achieve self-reliance, urge us to focus on the 4 Fs of Focusing on 4 Cities and Communities: Alternative Capital Association (IVCA) Conclave. Domestic start-up capital will have to play an increasingly important role. He suggested looking at incubators that are set up around the country. “If the domestic venture capital industry could literally take over some of these incubators and reach out to remote areas, it would make a difference.