KOCHI:
As part of diversification plans, startups have immense possibilities that are coming up in big corporates and they should harness such opportunities, experts said here today.
While participating in a panel discussion on the topic “Design for Startups and Innovation” at the three-day Kochi Design Week (KDW), India’s largest design conclave that kicked off at Bolgatty Island here, Revathi Kant, Chief Design Officer, Titan, said the company has an incubation programme called Ignitor in which interested employees are allowed to set up startup companies.
“Since disruption is the only way forward, we are going beyond manufacturing watches. We also partner with startups who have technology solutions. Corporates should work along with startups and Titan has the expertise to enter into the unorganised market,” she said.
Titan extends financial aid to startups that cater to socially-relevant entrepreneurship up to Rs 60 lakh, she pointed out.
Srini R Srinivasan, CEO, Lumium, and President-elect, World Design Organisation (WDO), who moderated the session, observed that the flow of investment to startups had been going down for the last one year. “This is due to the rate of failures among startups.”
However, Dr Saji Gopinath, CEO, Kerala Startup Mission (KSUM), said around 70 per cent of startups in Kerala are successful. “Apart from generating investment opportunities, most of the startups from the state give emphasis on solving the social problems. We have hardware startups in the state and we need support of organisations for scaling them up,” he added.
Shalini Chandnani, Head, NASSCOM Design4India, said the organisation is implementing various projects to support startups in association with all state governments in the country. “We want Indian startups to go globally. Quite often, lack of apt design for entrepreneurships with excellent ideas leads to their fizzling out,” she said.
The mega event is being attended by design professionals from India and abroad, heads of various companies, architects, interior designers, thought leaders, policymakers and government officials, besides the general public.
