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HomeTechTiE sets a target of supporting 1 million start-ups in 10 years

TiE sets a target of supporting 1 million start-ups in 10 years

The Indus Entpreneurs (TiE), a global association of entrepreneurs, has set a target to support one million start-ups in this decade. The 30-year-old association, which is holding a three-day Global Summit here from Monday, said that it has set an ‘audacious target’ of supporting 10 million start-ups by 2047, when India would celebrate 100 years of Independence.

Addressing the inaugural of the summit, BJ Arun, Chairman, TiE Global, said that the association, which started in the US 30 years ago, must have supported 25-50,000 start-ups so far. “Moving forward, we have audacious goals. We are dreaming so big and would like to aspire to support one million targets. It is possible. There is a fertile environment for entrepreneurship in India,” he said.

The association is present in 14 countries with 57 Chapters operating in different regions. “We have roped in KPMG recently to assess the impact that TiE has created. It found that the association had created wealth worth $1 trillion,” he said.

Shantanu Narayen, Chairman and Chief Executive Officer of Adobe, has said that there has never been a better time to be an entrepreneur than now with confluence of technology with sectors like medicine and education.

Addressing the inaugural of The Indus Entrepreneurs (TiE) Global Summit here on Monday, he advised entrepreneurs to never take the status quo as an answer for not pursuing their dreams.

Excellent environment

He said that the environment for pursuing entrepreneurial dreams is bright in India. About Hyderabad, he said he would have preferred staying back in Hyderabad rather than going to the States. “If I was growing up right now, I would have said that there is no way I’d leave Hyderabad to go the United States,” he said.

Telangana IT and Industries Minister KT Rama Rao said that innovation played a critical role given the “volatile, uncertain, complex and ambiguous world we live in”. He said T-Hub, a start-up ecosystem enabler, has so far supported over 1,100 entrepreneurs in the last seven years and helped them raise $1.9 billion.

“We have over 6,500 start-ups in Telangana in over 50 sectors. India’s first space start-up in the private sector —SkyRoot — was incubated in T-Hub,” he said.

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