Singha wrote:what we should be worried about is why so FEW of such projects in india
Problem is the conservative "safe bet" attitude. India produces really smart people, who unfortunately end up in top massa companies rather than creating their own companies. What we need is a setup which encourages start ups and make funding easily available for them. This "encouragement" needs to be on multiple level -
1. Popularizing the start up concept in colleges - the education ministry needs to create additional courses which would encourage entrepreneurship. It must include case studies about successful entrepreneurs and the hurdles they faced etc. Instead of selling the "American Dream", we need to sell the "Indian Dream" - the ones achieved by Narayana Murthy etc.
2. IT gorillas reaching out to students for ideas & venturing in new areas - they need to stop sucking up to "IT Services onlee" attitude
3. Angel investments to support new start ups
I think there is a cultural difference between the way kids are raised in the US and India. In the US, capitalism is religion - the ideas of profit motive, competition, private ownership are taught right from the childhood. Ofcourse, it has its negatives. We dont need to aim for US style capitalistic extremism. What we need to do is to recognize the bright kid, give him necessary encouragement and create the environment for him to innovate & contribute.