Ronnie Screwvala of upGrad cautions against excessive funding's corruptive influence

Ronnie Screwvala, a prominent figure in the Indian entrepreneurial landscape, recently shared his thoughts on the excessive funding raised by some new-age companies. In a podcast hosted by Nikhil Kamath, Screwvala expressed his gratitude for remaining grounded and avoiding the potential pitfalls associated with frequent fundraising. He emphasized that an abundance of funding can corrupt individuals, their mindset, and even their businesses. Screwvala considers himself fortunate to be able to derive enjoyment from his work.

During the podcast episode, Screwvala also reflected on his early days. Having grown up in Mumbai, he revealed that his father had a long-standing association with the Tata group. At a young age, Screwvala realized his desire to become an entrepreneur, acknowledging that he wasn't inclined towards implementing someone else's vision and instead wanted to venture out on his own.

In 1978, he enrolled in a Master of Business Administration course, remaining steadfast in his entrepreneurial aspirations without considering an alternative plan. Screwvala firmly believed that if he had pursued a backup plan, his primary plan would have never materialized.

His journey in the media industry commenced with a cable TV company called UTV. However, due to copyright issues and various challenges, he sold the business five years later. Undeterred, Screwvala went on to produce several highly successful movies, including "Kai Po Che," "Uri: The Surgical Strike," and "Chennai Express," among others. Additionally, he serves as the Chairperson and co-founder of upGrad, an edtech company focused on upskilling.

When Kamath inquired about the most significant moment in Screwvala's life, he humbly expressed that he didn't believe in singular defining moments, considering them to be exaggerated in the grand scheme of life.