Innovation often happens informally was the crux of Sabeer Bhatia's message at the Nasscom Product conclave in Bangalore to entrepreneurs who wanted to replicate the success of his hotmail.com
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
People in India haven't seen what happens if the environment gets sour, the Softbank vice-chairman said.
As many as 11,500 startups would come up in the country employing over 2,50,000 people by 2020, according to key findings of India Start-up Report 2014 of industry body Nasscom.
Nasscom is sending team there to check out ways of accessing markets, funding and the technology landscape.
While a three-year tax holiday and relaxation of capital gains for funds have been received favourably, others argue that not enough has been announced.
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