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Evangelise the entrepreneurship

Zafar Anjum | April 29, 2013
In a wide-ranging interview, Som Mittal, president of Nasscom, India, speaks of the three pillars of startups, the Singapore scene, the new direction of the Indian IT industry, and corporate governance.

I think some of our business environment; the compliance requirement of companies large or small is still very onerous so we can't put the same level of compliance governance on a small company at the early stage. Those are the areas that we have to find successful market places. A lot of people are coming up with ideas and so on but how do they get reach, how do they become visible? So you can have a great idea but that idea has to be put to use and marketing would be a big challenge because you are a small company, you could get lost.

I would think so the exit options that investors would look for are coming in but they are more limited than they are and also you need a very active M&A to happen so that people know there can be an exit. So, exits are only in two routes, right? Either you merge and sell out or you are expanding and getting into an IPO. So the capital markets have to be more active. There are new exchanges that are coming up but that I would think would be areas that we need to work on.

Is it true if there are now two groups in the Indian outsourcing industry which is a split off section from Nasscom which wants to champion the cause of smaller companies. So would you like to share with us what happened and why that was necessary?

I think it got misrepresented. The people who are in that group are actually Nasscom members; they are not split away. We renew our membership, they are all renewed. Three of them were on our executive council. I think there are many groups of that nature that are there that are local and these people are focused like a think tank. It's good that these kinds of groups get formed and Nasscom would support them and ensure that everybody is playing their role.

As Nasscom, we have very large numbers of interest groups, we have IT, BPO, engineering services, products, Internet commerce, people who play only the domestic, people by ownership who are different, they are foreign owned. So every one of their needs are different so we at Nasscom work hard to ensure that we...which is good problem to have because the size of every one of them is large enough to get attention.

Our model is also getting changed because you have to work out a model variant one too many as compared to one too few. So we will be saying how are we going to service many more companies without the same touch points so how do you leverage technology for it?

 

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