FICCI Ladies Organisation (FLO) Hyderabad recently organised a session themed ‘The Journey of an Idea,’ highlighting the role of venture capitalists in innovation, at the Park, Somajiguda in Hyderabad. In her welcome remarks, Priya Gazdar, Chairperson of FLO, shared a little-known history of how finance titan JP Morgan backed Edison to become the first true technology venture capitalist.

Morgan’s company, which supported Edison, eventually became what we know today as General Electric. “Vyavahar pehle aur vyapar baad me” (behaviour first, business later) is what most venture capitalists (VCs) look for in founders and startups, opined Shanti Mohan, Founder & CEO of LetsVenture & Trica. She emphasised the significance of company culture, sharing that a colleague had once underscored this principle’s importance to her.