The startup culture, which has gathered pace in the country, will continue to disrupt traditional business models in a significant way, according to investors which have funded such activity. Investors from firms like IDG Ventures, Grofers, India Internet Fund had shared their opinions on how startups will continue its presence in India and how they will affect traditional businesses. TCM Sundaram, MD of IDG Ventures, said that startups would disrupt traditional business models in the days to come which has become evident with the likes of cab aggregators and e-commerce firms. Also Read - BYJU's Early Learn app takes kindergarten classes online using Disney characters and computer-vision frameworkAlso Read - Oppo signs MoU with Telangana to help startups grow
Traditional businessmen understand business in their own way. That person will discount you in the first place. For a tech guy, that is past. This is the future, Ashneer Grover, the head of finance of online grocery market place Grofers, said. This in a way would continue to disrupt traditional business model, he added. Asked to comment on Future group chairman Kishore Biyani who had recently said that 90 percent of the startups were hopeless and did not have much job creation potential, Anirudh Suri, founding partner of India Internet Fund, said, In a way, Biyani is right . 99 percent of the startups will not generate jobs. One or two will succeed. But these successful ones will be disruptive in nature, he said at a panel discussion organized by Calcutta Angel Network (CAN), a city-based body of investors which has funded almost eight to ten startups.
Lack of talent and eco-system in the eastern part of the country were also a cause why the city was way behind places like Bangalore, NCR, Pune, Hyderabad and Chennai. Two to three years ago, there was no eco-system in Kolkata. That is why we had to move out to Bangalore , founder of CEO of Tookitaki, a risk analytics startups said. I hope the situation is improving now. To add to that, getting the right talent here is also very difficult. The rightly qualified people do not want to stay here or come back , he said. The same was the opinion of Kaushal Dugar, founder of tea portal TeaBox.
We started operations from Siliguri. But now shifted to Bangalore due to lack of talent available here , he said. Although the registered office is still in Siliguri, the research and development centre is in Bangalore, he said. CAN had also announced funding to two startups, online ticketing platform Explara and a city-based startup, Vehico, engaged in automobile tracking. ALSO READ: Startups in India now joining the augmented reality and virtual reality bandwagon