Mysuru needs MNCs, better connectivity to foster startups

Feb 10, 2018

Mysuru: Unless more multinational companies set up shop here and connectivity improves, it’s very difficult to see more startups in Mysuru, said Naganand Doraswamy, managing director and founder, Ideaspring Capital.
Delivering his inaugural address at the conference on ‘Mysuru: The next Tech Startup Capitalof Karnataka’ organised by the Confederation of Indian Industry, Mysuru chapter here on Friday, he said “Though on an average every year 13,000 graduates pass out and nearly Rs 6,000 crore IT exports come from Mysuru, but to give boost to startups, it lacks much-needed multinational companies. Benglauru, the startup capital in the country, has the offices of top 100 companies in the world. We need to take steps to attract MNCs to Mysuru.”

“Bengaluru didn’t become the startup capital overnight. It was developed methodologically over a period of 40-50 years. In the 1950s, the Indian Institute of Science and other technical institutions came up and between 1950 and 1960, more public sectors units, including those of the defence, started. It was in the 1970s with the establishment of Wipro and Infosys that information technology started. Later, in 1990s, the Y2K problem surfaced and put Bengaluru on the international map. In 2005, jobs evolved from software development to development. The actual startup boom started in 2010 and started to get more attention from 2013. The policies, including creating a software technology park in Bengaluru, enabled more companies to come to Bengaluru,” added Doraswamy.

 

Doreswamy said that though tourism branding is good, there is no proper connectivity which is important to attract more MNCs. “A proper ecosystem and incubator for startup is very much the need of the hour. Apart from this, funding and talent pool is also very important for startups. Eight to ten extremely dedicated, intelligent and hardworking individuals are important for a startup. The government of Karnataka is giving away grants. One can get upto Rs 50 lakh in just three months and young entrepreneurs should make maximum use of it. Supporting entrepreneurs is also important and a core committee consisting of tech leaders in industry should take steps towards this. While developing Mysuru, one should keep in mind that it should not become like Bengaluru — proper planning and importance to heritage should be given,” he said.

Achutha Bachalli, founder & chairman, Unilog Content Solutions, said “Firstly, when we do a startup, we start with an idea which plays a very important role. Mysore, known for theatre, music, dance, serenity with lesser traffic, is the best place for idea generation unlike Bengaluru.”

Arjun Ranga, chairman, CII Mysuru, mentioned the 10-point process which includes problem and solution, business model, underline problem, marketing and sales, competition, management team, financial projects, time status and funds. He also mentioned that the ability to adapt to change is also very important and one needs to think big and start small. He also talked about the government’s various programmes, especially digital programmes, where there is plenty of scope for startups and young entrepreneurs.

Bhaskar Kalale,VP, Theorem Inc., said in recent times, the emergence of the tech-led business startups has become the prime mover of employment for the younger generation and brought the role of innovators into focus.