Terming the ₹10,000-crore fund to boost the start-up ecosystem as a much awaited initiative, Abdul Salam, Co-founder and CFO of Foradian Technologies Pvt Ltd, said he would be curious to see how this fund reaches start-ups, helps in their growth, and creates jobs for the betterment of society.
His start-up provides enterprise software solutions for education institutions.
“At Foradian we used to avoid Government aid fearing documentation and procedural delays. The time spent on such activities should show actual ROI (return on investment),” he said.
He said the push for improvement in the quality of education sector through the addition of new IITs and IIMs was an indication of the long-term vision for the youth of the country. It would benefit industry and the country in the long term.
This would create self-motivated people who would start companies on their own and also provide highly qualified professionals to aid the start-up ecosystem, he said.
“We would like to see greater focus on the education sector, improving the quality of education in public sector schools, through technology,” Salam said. Private institutions were more focused on the urban areas, whereas education for next generation entrepreneurs in rural areas was dependant on Government schools, he said.
It was exciting to hear terms such as start-ups, accelerators and incubators mentioned in the Budget, which was a clear indication of a bright future for the Indian entrepreneur ecosystem and change in the mindset of how Indians viewed and understood start-ups, he said.