Hyd startup ecosystem vibrant, has potential to go global: Tarun Ghulati

While Bengaluru has been established for some time, Hyderabad emerged later, yet it exhibits greater vibrancy, with people displaying increased enthusiasm. I’ve encountered promising startups originating from this city, including one that has developed new rocket technology - Tarun Ghulati, Co-founder, India Startup Foundation

Hyderabad

In the Indian startup ecosystem, Hyderabad is a late entrant but it has been able to catch up with Bengaluru and surpass their ecosystem vibrancy as the entrepreneurs here are more enthusiastic in many ways, said Co-founder of India Startup Foundation.

Tarun Ghulati, who is running for the post of Mayor of London as an Independent candidate, on Wednesday kick-started his election campaign in India by interacting with the media in Hyderabad, and reveal his plans for London if elected to the post.

On the sideline of the event, Ghulati spoke to Bizz Buzz about Hyderabad’s startup ecosystem and India-UK collaboration. “While there is Bengaluru, Hyderabad has come up later but it is more vibrant, people seem to be more enthusiastic. I am finding good startups coming from this city, such as the startup which has come up with the new rocket technology. I was here last month for the India Startup Festival, I saw lot of participation from Hyderabad. I want to build on that and support them, not only with money but also with mentorship, and also bring investors. From the 10,000 odd startups that participated, about 150 term sheets were issued on the same day,” Ghulati, also the Co-founder of India Startup Foundation (organisers of India Startup Festival) said.

On UK-India collaboration, the Founder and CEO of Squared Watermelon, and the oldest committee member of the London Chamber of Commerce Asian Business Association, said that atleast 130-150 Indian companies that aspire to go global are supported, handheld, and made members of the Chamber. “Unless startups do not start thinking globally they will not go global. So I am trying to build that confidence in the entrepreneurs, and if they come from Hyderabad they can go global. I am helping them open account there, handhold them, make them members of the London Chamber, so what this builds into is they can hit the ground running without wondering for small amount of money,” Ghulati highlighted.

To make the UK market more accessible and open for innovators, Ghulati pointed out that the price to innovate in London has to be brought down. “I want the UK patent law to be more robust. A lot is going to be covered in theUK-India Free Trade Agreement, so it is going to help us with more openness, robustness, more trade and people to people interaction will be happening. The startup ecosystem is facing that problem currently. We got to make local patenting laws as such that facilitate business so that everybody is able to give it a try and innovate,” he pointed out.

Ghulati has held many leadership positions in the private banking sector. Commenting on the Indian banking system, he stated that there is more robustness and visibility now however there is a scope for improvement. “The Indian banking system has become more robust, there are more branches overseas,more people working overseas, more governance and control over the credit and risk, as opposed to seven or eight years ago when there was name lending that was going on and concentration risk was high but now it is being controlled to some extent. Some people took advantage of that system and settled overseas. But I think there is always scope for improvementwhich means to make sure there is no concentration, right people get the right money, and support businesses that needs the money.”