Startup scene to slump globally, says Nasscom

Even though India will be an exception, the startup scene globally, will witness a slump, said  Nasscom Product Council Chairman Ravi Gururaj.

In an interaction with Deccan Herald as part of the Nasscom Startup Konnect, a two-day pitch session for startup, Gururaj said this phenomenon is cyclical.

“Globally, we can see various economies are going through a downward trend. It will also have a negative effect on investment. It will have slight resonance in the Indian startup scene this year,” he said.

Gururaj argued that since the Indian economy is witnessing a growth trajectory, and the Modi-led government policies have given a new synergy to growth momentum, startups are finding a conducive atmosphere for growth.

“India is on the cusp of digital revolution backed by the Digital India initiative and the fast-growing penetration of smartphones in the country. This is paving the way for a new business model,  which finds lots of opportunities for startups,” he said.

 He said as part of the Nasscom 10,000 startup programme, over 200 startups pan India have been selected for the Startup Konnect.

“The programme will give an opportunity for startup to interface with all ecosystem partners including leading accelerators, angel investor networks and venture capital firms across Bengaluru, Mumbai, Hyderabad, Kochi, Kolkata and Delhi,” said Gururaj.

Abhijit Khasnis, the Co-Founder and COO of Hiree said, startups can succeed if they come up with world class products. “It is important that the product should solve problems from a global stand point. Hiree has found this perspective and come up with innovative solution for hiring,” he said.

Som Singh, founder and CEO of Unspun Consulting Group, said startups should pitch for their public relations systematically.

“Rather than spending more money, startups should understand that public relations give more leverage for the company and its products,” she said.