“Zerodha’s Nithin Kamath Joins National Startup Advisory Council, Advocates Domestic Investment in Startups”
In a significant development, Nithin Kamath, the co-founder, and CEO of Zerodha, has been appointed as a member of the National Start-up Advisory Council (NSAC), a newly formed panel by the Government of India aimed at bolstering the country’s startup ecosystem.
In a significant development, Nithin Kamath, the co-founder, and CEO of Zerodha, has been appointed as a member of the National Start-up Advisory Council (NSAC), a newly formed panel by the Government of India aimed at bolstering the country’s startup ecosystem.
The announcement of Kamath’s inclusion in the council, among 31 other new members, was made by the Centre on December 18. Expressing his acknowledgment, Kamath took to social media to share the news and shed light on the burgeoning interest among the younger generation in the startup landscape.
“More Indians today than ever before are aspiring to be entrepreneurs thanks to government initiatives and messaging, the media coverage of the start-up ecosystem, founder success stories, and more,” mentioned Nithin Kamath in his social media post.
Highlighting a critical area for focus, Kamath advocated for unlocking domestic capital for startups and Micro, Small, and Medium Enterprises (MSMEs), emphasizing the need to diminish reliance on foreign investments and encourage Indian backing for homegrown startups.
“It is maybe time for newer products or vehicles that can be used by accredited investors or those who can take higher risks to be able to invest in equity or debt in start-ups/MSMEs,” stated the Zerodha founder. He further underlined the growing appetite in India for investment in innovative products, urging the country to seize this opportunity to retain startup-generated wealth within India.
The National Startup Advisory Council (NASC), established by the central government in January 2020, operates under the Department for Promotion of Industry and Internal Trade (DPIIT), with Union Minister Piyush Goyal at the helm. The non-official members, including Kamath, serve a term of two years.
Alongside Nithin Kamath, the council comprises notable figures such as Prof Amitabha Bandyopadhyay from IIT Kanpur, Karthik Reddy representing the Indian Venture and Alternate Capital Association, Prof Yogesh Singh from the University of Delhi, Nivruti Rai from Invest India, and heads of various industry chambers.
The primary objective of NASC is to foster an enabling environment conducive to the growth of startup companies and innovation, aligning with the government’s vision to promote entrepreneurship and elevate India’s position as a global startup hub.
Nithin Kamath’s appointment to the council marks a pivotal moment, signifying industry collaboration and expertise infusion to further fortify India’s burgeoning startup ecosystem.
Sources By Agencies
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