'No clarity on deployment of Rs 10,000-crore fund'

'No clarity on deployment of Rs 10,000-crore fund'

'No clarity on deployment of Rs 10,000-crore fund'

 The pioneering effort of ‘Start-up India Stand-up India’ in 2015, will bear fruit this year, according to healthcare platform Practo’s Co-Founder and CEO Shashank N D.

He said, “Last year, we took two steps forward and one step back. But, this year, I am sure we will take three steps forward.” Markets, indisposed with over funding, and excess supply are now going to correct and “right things will happen,” he said.

The government’s encouragement has put the startup community into focus, and global influences, goings-on in the US and China, have injected the much-needed rationality in the funding space, he opined.

“This year, capital is going to flow to the right ideas and right companies,” he said. In his opinion, the game is going to be played more tactfully now onwards, as opposed to placing bets.

With mindful funding curbing excess supply, markets are suited to approach states of equilibrium.

However, he expressed his concern regarding the Rs 10,000-crore fund for startups, planned by the governement.

“While the Rs 10,000-crore fund is just enough, there is no clarity regarding the roadmap for its deployment. Questions like ‘how and when’ remain, and these need to be addressed,” he said.

Problems cannot be solved with capital, but with innovation, engineering and a destructive approach, he said, while making his keynote address at SURGE 2016, in Bengaluru on Tuesday. 

The two-day summit found speakers in 500 Startups Founder Dave McClure, Flipkart Co-Founder Sachin Bansal, Snapdeal Co-Founder Rohit Bansal and Delhivery Co-Founder Mohit Tandon, among others.