Founders and CEOs of startups have a simple message for the new government, which will shortly assume office – keep expediting the enabling conditions for the ecosystem to thrive.
They see the next five years as pivotal for expanding opportunities in both B2C and B2B sectors, as well as in deeptech fields like AI and spacetech.
“We believe that specific measures, like tax breaks for AI research, can greatly benefit the tech sector and boost AI adoption across various industries. Additionally, we look forward to more collaboration between the government and industry to develop conversational interfaces that will drive digital transformation,” Beerud Sheth, co-founder and CEO, Gupshup said.
Also Read
Industry leaders are sure about the continuation and expansion of reforms and policies such as the production-linked incentive (PLI) schemes and the Atmanirbhar Bharat initiative. “These policies have already spurred significant growth across various sectors,” Nishant Pitti, CEO and co-founder, EaseMyTrip told Fe.
Startups are also looking for government initiatives that support the establishment of strong governance frameworks. “This includes enhanced regulatory oversight, improved compliance mechanisms, and educational initiatives to help entrepreneurs understand and implement good governance practices,” added Pitti.
They also look forward to the government nurturing early-stage startups by providing them more access to funding, streamlining regulations, and fostering international collaborations. “Focus on AI, R&D across fields, recharging FDI inflows and, ESG (Environmental, social, and governance) policies, will be critical. From the perspective of Licious, which works closely with farmers and fishermen, regulatory clarity in allied industries, incentivising the creation of supply and cold chains, boost in manufacturing will go a long way,” Abhay Hanjura, co-founder, Licious said.
Founders in the edtech space want more support from the government to focus on tier II and III cities and villages. “While there have been considerable strides when it comes to education acrossthe country, there is still a huge opportunity to streamline processes. Companies like ours, which deliver online education to state board students and those lacking resources who cannot afford high fees, face a significant burden with the current 18% GST on online education,” Tarun Saini, co-founder and CEO, Vidyakul said.
Startups also want the government to leverage their expertise for large-scale job creation and hence, revisiting employee stock option (ESOP) taxation policies would be ideal. “These stock options are still not considered a part of public market investments, and hence incentivising ESOPs with simpler and appropriate tax structures like shares would make it an attractive wealth creation opportunity, thus driving strong talent retention,” Mayank Kumar, co-founder and MD, upGrad said.
“We are sure that the government will continue to support innovations in agriculture and rural economy through favourable policies, increased funding for innovation, improved infrastructure, and initiatives to enhance digital literacy and technology adoption among farmers,” Mark Kahn, managing partner, Omnivore said.
With climate change becoming a top priority globally, venture capitalists in the climatetech space look forward to specific policies for green transition and net-zero commitments.
“The new government should focus on concrete measures such as incentivising renewable energy investments, enhancing green infrastructure, and promoting sustainable industrial practices. This strategic approach will enable industries to align their operations with national goals,” said Sandiip Bhammer, founder and co-managing partner, Green Frontier Capital.
Kolkata doctor rape murder: CBI names Sandip Ghosh in FIR, TMC rebuffs ‘Nabanna Abhijan’ rally as Illegal | Top Developments Historic day: Modi meets Zelenskyy; talks focus on peace and stability Explainer: Why mpox outbreak is a global emergency PFC gains over 5%; brokerages hike target price by as much as 28%