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| Source: Governance Now; Illustration: Ashish Asthana |
Start-ups thrive best on innovation—that free-wheeling
creativity which strives for value creation and doesn’t put monetization first.
The core guiding principle of start-ups is: Create value; money will follow.
Let’s acknowledge it—the birthplace of start-ups as we know
them today is the Silicon Valley, and the norm for a start-up there is to focus
on innovation, not on monetization, at least during the build-up process. The entrepreneurial
norm in India has traditionally been the reverse—to do the monetization bit
first and then build things up. (That start-ups become greedy when they grow
into corporations is a subject for another discussion some other time.)
There is a need to build a start-up culture as opposed to the
profit-making culture that exists in today’s business environment. There should
be a focus on IP creation, and solving India’s real problems—not only growth
problems faced by the businesses and industries but also the economic, social
and environmental issues facing the people at large.
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