A day after the Budget was announced, it's important to cut through the hoopla and deliberate on what it really means to the Indian startup ecosystem. Will Budget 2020 help Indian startups build on the foundation they have laid in prior years and scale greater heights? Will FM Sitharaman's incentives help grow and empower startups across sectors?
The questions are many. Helping me find answers to these unending questions is a panel of investors, who have played vital roles in building and growing India's startup ecosystem.
The panel members - Naganand Doraswamy, Managing Partner, Ideaspring Capital; Siddarth Pai, Founding Partner, 3one4 Capital; Ganesh Raju, Founder and CEO, Turbostart; and Sharad Sharma, Co-founder, iSPIRT Foundation – know the ins and outs of India’s entrepreneurial ecosystem.
As always, the devil lies in the details, and this time, there are a lot of details to dwell on. I did a quick survey after the budget, and 34 percent of respondents told me that it was not as per expectations, 21 percent said it could be better, 27 percent found it encouraging while 18 percent said they were indifferent.
So as we celebrate the ESOP boost and the seed fund announced for startups, my panel takes us through Budget 2020 and what it translates into for the startup ecosystem.
Here’s the timestamp for the topics that were covered for your easy reference.
At (1.33): When startups entered the mainstream lexicon
At (1.52): The role played by CBDT
At (3.40): What are “eligible” startups?
At (6.10): What can be done better when it comes to ESOPs?
At (9.55): Creating a zero-friction environment
At (11.25): Ease of doing business
At (14.15): What would be the best ESOP policy?
At (17.45): An innovation economy
At (21.30): Need for more investment in capability building
At (29.55): What happened to the Fund of Funds?
At (33.30): Going from Stage 1 to Stage 3
At (36.08): The takeaways
At (40.55): E-marketplaces, data centres, and edtech
At (43.00): Encourage Make in India
At (44.31): MDR and the fintech ecosystem
At (46.20): Changing the S-curve
At (48.30): Key points for entrepreneurial ecosystem
At (52.43): Bringing in rupee capital
At (56.02) Translating intent into action, taking ownership to bring change, and focusing on value creation.