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<ul><li>A total of 40 CEOs and businessmen are raising ₹20 billion to build a university named Plaksha. </li><li>The university will be built over 50 acres near Chandigarh. </li><li>The idea behind the university is bringing technological solutions for society ranging from <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">Artificial Intelligence</keyword>, Machine Learning to Robotics. </li></ul>India’s top entrepreneurs and businessmen are pooling their resources to build a technology university aimed at teaching emerging technology, innovation and entrepreneurship. The university, which hopes to become the ‘Stanford of the East,’ is backed by over 40 Indian entrepreneurs and CEOs including Mahindra CEO CP Gurnani, Neeraj Aggarwal, Chairman of Asia Pacific, Boston Consulting Group, Hellion Ventures’ co-founder Ashish Gupta, chairman of Genpact and Clix Capital Pramod Bhasin, Hitesh Oberoi, Infoedge and Naukri.com Managing Director, among others. Together, they are raising <a href="https://www.livemint.com/companies/news/entrepreneurs-group-to-raise-2-000-crore-for-stem-university-1550171308952.html">₹20 billion</a> to build Plaksha – the name given to the university – and have already raised ₹4,000 million. The university will be launched in 2021. The idea for the university started three years ago, when a few IIT alums – today top business leaders – got together and thought of way to encourage India’s booming tech-driven ecosystem, say its founders. “We felt the need to reimagine technology education the way it’s being delivered today and create something that’s truly world-class and cutting edge, and reimagine teaching curriculum research,” Vineet Gupta, Managing Director, Jamboree Education Pvt. Ltd. and Founder and Trustee, Ashoka University, who is one of the investors and founding member of Plaksha, told Business Insider. The university will be built upon 50 acres of land near Chandigarh International Airport, near Indian School of Business, Mohali. In its first phase, the investors have planned to invest ₹3,500 million in capital for a 1,000 student campus. In 10 years, the founders aim for it to become a 8,000-students campus. “We met the Punjab and Haryana government, where the Punjab government was excited about the university. When the idea started it was five-six of us and now we have reached 40, the number will keep growing as it’s a combined philanthropic effort,” said Gupta. The idea behind the university is bringing technological solutions for society, Gupta said, adding they hope its ideas will help solve India’s challenges in areas ranging from food security, environment sustainability, health, education or innovation in manufacturing. “Technology has a huge role to play in advancing solutions for these problems.While the approach of the university will be to look at cutting edge technology in sectors like Artificial Intelligence, Machine Learning, robotics among other, we would like the university to sensitize and deal with solutions focused on India,” said Gupta. The importance of technology and innovation education has been a big theme at almost every other startup meet or discussion at Indian events focused on entrepreneurship. The setting up of this university will lead to more students having an option to learn about entrepreneurship and technology before actually being a part of the game. “Education is a big multiplier…most of us got good education at IITs almost for free and what we are today is because of that quality education. Over the last three decades, the world has changed and it is time for us to come together and create a new model that can be best in the world in terms of teaching, learning, and market worthiness," <a href="https://www.livemint.com/companies/news/entrepreneurs-group-to-raise-2-000-crore-for-stem-university-1550171308952.html">Mint</a> reported citing Hitesh Oberoi, Infoedge and Naukri.com Managing Director. See Also: <a href="https://www.businessinsider.in/after-bengaluru-mumbai-and-delhi-kochi-in-communist-party-led-kerala-wants-to-be-the-next-technology-startup-hub/articleshow/67522805.cms">An Indian state led by a communist party has built the country’s biggest home for technology startups</a> <a href="https://www.businessinsider.in/Indian-startup-founders-are-giving-up-ownership-too-early-and-thats-a-bad-idea/articleshow/67938329.cms">Indian startup founders are giving up ownership too early – and that's a bad idea</a>

Top CEOs from India are raising funds to set up a technology university

<ul><li>The <keyword id="4390638" type="PERSON" weightage="20" keywordseo="India-Internet-Day">India Internet Day</keyword> organized by TiE Delhi-NCR saw India’s unicorn founders and investors all gather under one roof. </li><li>“9/10 top apps on Google Playstore will be from India within the next 5-10 years,” said Hans Tung, Partner, GGV Capital.</li><li>“India is among the 'first world' as far as investment in start-ups is concerned,” said Vijay Shekhar Sharma.</li></ul>On Thursday morning, it wasn’t the usual breakfast for some <keyword id="53533" type="COMPANY" weightage="20" keywordseo="entrepreneurs">entrepreneurs</keyword> in Delhi-NCR, for they got to sit down with the top investors and entrepreneurs of the country for a quick mentorship session. This was possible at the India Internet Day 2019 organized by TiE Delhi-NCR. Following the theme ‘India Internet Unboxed: Getting ready for a 100 <keyword id="2023017" type="ORGANIZATION" weightage="20" keywordseo="unicorns">Unicorns</keyword>’, the conference saw India’s top entrepreneurs sitting alongside those who want to get into the game and also the top names from the Chinese start-up ecosystem, all gather under one roof. The day registered the presence of over 1,000 delegates, including several start-ups, top unicorns, industry leaders, investors, mentors, policy-makers, and other key stakeholders. The iDay 2019 also had Chinese VCs shed light on the start-up landscape in China. The speakers included Hans Tung, Partner-GGVC, the investor associated with 14 unicorns, Helen Wong, Partner- Qiming Venture, and Yun Lou, Founder &amp; CEO – Clubfactory. “9/10 top apps on Google Playstore will be from India within the next 5-10 years,” said Hans Tung, Partner, GGV Capital. Speaking on the event, Rajan Anandan, President – TiE Delhi-NCR shared, “The focus of today’s event is to encourage and help innovative internet-centric start-ups in learning how to unbox the full potential of their ambitious ventures.” Notes and Networking When unicorn startup founders and investors who have backed unicorns are present at an event, it is obvious to see entrepreneurs scrambling to take notes and hurrying outside to exchange cards. The event started with a welcome address by Rajesh Sawhney, Co-founder &amp; CEO of InnerChef, and an opening keynote by Vijay Shekhar Sharma, Founder &amp; CEO – Paytm. “India is among the 'first world' as far as investment in start-ups is concerned,” he said. Highlighting the positive transformations in the country’s entrepreneurial landscape, the co-chair for the conference Vani Kola, Co – Chair for the event &amp; Managing Director – Kalaari Capital, said, "India is finally going beyond the 3Ms: male, metros &amp; millennials and using the 3Vs to do so: voice, video &amp; vernacular." In the first keynote on ‘Unboxing Innovation &amp; Empowering <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword>’ , Anant Maheshwari - President , Microsoft India mentioned, "The value of India is in that bottom of the pyramid of SME.” Deepinder Goyal, Founder &amp; CEO – Zomato, urged entrepreneurs to draw value from outside India, valuations from India as part of the panel discussion on ‘Unboxing Indian Tech Going Global’. Speaking on ‘Entrepreneurial Milestones: Unboxing Pivots and Pirouettes to Exits’ Kunal Shah, Founder &amp; CEO, Cred urged aspiring entrepreneurs, “It’s not the storytelling but the clarity of thoughts that can make your start-up successful.” Six curated start-ups presented their unique products to a panel of investors as part of the Launchpad at iDay.

India’s top entrepreneurs promise to make way for 100 Unicorns

<ul><li><keyword id="6355107" type="UNKNOWN" weightage="20" keywordseo="Baba-Ramdev">Baba Ramdev</keyword> set the <keyword id="43502" type="ORGANIZATION" weightage="20" keywordseo="World-record">world record</keyword> for the ‘largest yoga session’ ever performed. </li><li>The record was set for the Guinness Book of World Records at the 105,000 mark. </li><li>Reports suggest that the crowd grew even bigger afterwards with nearly 200,000 participants. </li></ul>While employees at the Income Tax Department in the city of Ludhiana are trying to set the record for doing yoga the entire day, the city of <keyword id="77357" type="CITY" weightage="20" keywordseo="kota">Kota</keyword> in the Indian state of <keyword id="6355588" type="LOCATION" weightage="20" keywordseo="rajasthan">Rajasthan</keyword> has already entered the Guinness Book of World Records by performing the <a href="https://www.thehindubusinessline.com/news/national/yoga-session-at-kota-enters-guinness-book-of-world-records/article24217325.ece" data-type="tilCustomLink">largest yoga session</a> ever. In the early hours of the 4th <keyword id="6362857" type="DEFINITION" weightage="20" keywordseo="international-yoga-day">International Yoga Day</keyword>, a huge crowd gathered in Kota to perform their asanas at a mass yoga camp led by Baba Ramdev, a renowned yogi and co-founder of <keyword id="6356684" type="UNKNOWN" weightage="20" keywordseo="patanjali">Patanjali</keyword> Ayurved. Before long, the crowd ballooned to create a world record at the 105,000 mark for the ‘largest yoga session’ ever. That number isn’t just a headcount but calculated using standardised methods and drone cameras. That being said, reports suggest that the crowd grew up to 200,000 participants by the end of the day. The new record for the largest yoga session is nearly double the previous record of 55,524 people performing yogic asanas in Mysore just last year. Aside from Baba Ramdev, the Chief Minister Vasundhara Raje, officials from the Guinness World Records as well as 4,500 inspectors were present at the event. With the theme for this year’s International Yoga Day being ‘yoga for peace’, Ramdev expressed the need for people to embrace the three yog mantras of determination, hard work and good nature into their lives.

India's top yogi-cum-entrepreneur just set a yoga world record

Italian <keyword id="19946118" type="General" weightage="20" keywordseo="luxury" source="keywords">luxury</keyword> carmaker <keyword id="20673655" type="General" weightage="100" keywordseo="Maserati" source="keywords" meta.keywordsubtype="org" meta.entityname="Maserati" meta.hostid="153" meta.entityid="Maserati">Maserati</keyword> believes <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> has the potential to be among its top ten global markets in the mid term with the country's <keyword id="20041662" type="General" weightage="20" keywordseo="entrepreneurs" source="keywords">entrepreneurs</keyword> driving its sales, according to the company's Head of Overseas Markets, <keyword id="22976712" type="General" weightage="20" keywordseo="philippe-claverol" source="keywords">Philippe Claverol</keyword>. The company, which on Friday launched its <keyword id="22975850" type="General" weightage="20" keywordseo="granturismo" source="keywords">GranTurismo</keyword> model with prices starting at Rs 2.72 crore, is also studying the feasibility of introducing its <keyword id="19906970" type="General" weightage="20" keywordseo="electric-vehicle" source="keywords">electric vehicle</keyword> range in India. "Maserati is a luxury brand, so we don't look at huge volume for us. A big market for us is a market where we sell 500 cars a year... but I think in mid term, in few years, I think in India, we can reach this kind of 500 (units a year)," Claverol told PTI here on the sidelines of the launch. He, however, said volume isn't "an objective in itself" for Maserati. He further said,"I know who are the top markets of Maserati worldwide. I think India can become one of the top 10 markets for Maserati in the mid term." Currently, North America, Italy, Switzerland, China, Japan, Australia, Taiwan and the UAE are the top global markets for Maserati and India with less than 50 units sold last year is still a small market, he added. Yet, Claverol said, India is an important market for Maserati. "It is a land of entrepreneurs. A vast majority, 80 per cent of our customers in India are entrepreneurs," he said. Also, India is a country with a lot of appreciation for luxury products, he said, adding "we feel that there is a good match". In order to enhance its presence in India, Maserati is expanding sales network, he said. Maserati already has a <keyword id="20400384" type="General" weightage="20" keywordseo="dealership" source="keywords">dealership</keyword> in Mumbai and opened a new one on Friday here in the national capital and will open one in Bengaluru later this year, Claverol said. "We see that the North India market is bigger actually than the Mumbai market and we also think that Bengaluru is the third pillar. This dealership expansion is also because we want to go where the markets are in terms of volume," he said. Asked about plans for launching electric vehicles in India, Claverol said Maserati has the electric version of the conventional engine models under the Folgore range globally and the company will study the feasibility of bringing it in India. "We will, with our partners, start to look at how is the market, how to train our people, how to train the technicians, how to analyse, how to build the right offer, the pricing, the charging solution, and so on, and then, once we will be ready, we will look at the pricing, and we will obviously try to launch the Folgore range as well," he said. Asked about the timeline for a possible launch of the electric range, he said,"The sooner, the better. The cars are available."

India has potential to be in Maserati's top 10 global markets in mid term: Co-official

<ul><li>The invitation-only event saw top business houses of India under one roof.</li><li>This year, the committee received 80 by-invitation only nominations in India across 24 industry categories.</li><li> APEA has a membership base of 2000 winners, with a total net worth of over USD 50 billion.</li></ul>In a gala event organised to recognise and celebrate entrepreneurship, the <keyword id="7570094" type="UNKNOWN" weightage="20" keywordseo="Asia-Pacific-entrepreneurship-awards">Asia Pacific Entrepreneurship Awards</keyword> 2019 held on April 18 saw India’s top business houses gather for a grand evening. The invitation-only event hosted industry leaders, leading <keyword id="53533" type="COMPANY" weightage="20" keywordseo="entrepreneurs">entrepreneurs</keyword> and dignitaries including Tan Sri Dr. Fong Chan Onn, Chairman of <keyword id="3328093" type="PERSON" weightage="20" keywordseo="Enterprise-Asia">Enterprise Asia</keyword>; H.E. Dato’ Hidayat Abdul Hamid, High Commissioner of Malaysia in New Delhi; Mr. Vijay Kalantri, President of All India Association of Industries; Lieutenant General Sudhir Sharma, Advisor to Enterprise Asia; and Dato’ William Ng, President of Enterprise Asia. The event was also supported by Skill India, an initiative under the Ministry of Skill Development and Entrepreneurship, Government of India; Pernod Ricard India as the Official Beverage Sponsor; and Business Insider India and SME Magazine as Official Media Partners. Organized by Enterprise Asia, the leading non-governmental organization for entrepreneurship in Asia, APEA is a regional awards program which aims to recognize Asia’s outstanding entrepreneurs and enterprises for demonstrating sustainable growth, responsible leadership and operational excellence. As one of the largest business awards of its kind, APEA has a membership base of 2000 winners, with a total net worth of over USD 50 billion. The Awards ceremony is currently held in 14 countries and markets, including BIMP-EAGA, Brunei, China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, Sri Lanka, Taiwan, Thailand, United Arab Emirates, and Vietnam. This year, the committee received 80 by-invitation only nominations in India across 24 industry categories. Being an invitation-only event, APEA open doors for winners to join an exclusive alumni of who’s who across Asia, providing them with the opportunity to share knowledge, form lifetime acquaintances, and receive complimentary access to the International Innovation Summit and International CSR Summit organized annually by the organization. “This year marks the 10th year of running the Asia Pacific Entrepreneurship Awards in India, and we are gratified by the continued interest in the program. We believe this is a reflection of the ongoing success of entrepreneurs and enterprises, as well as our steadfast commitment to upholding the highest standards of our global criteria,”shared Ng. He further commented, “The panel of judges were impressed by the quality and diversity of submissions this year and had the challenging task of evaluating and determining this year’s top nominees. The Awards were given solely on merit and aimed to commend those most deserving for their ingenuity, passion, and commitment to excellence, distinguishing them from their competitors and proving them worthy of recognition.” Leading the list of winners was Mr Salil Singhal, Chairman Emeritus of PI Industries Ltd., who received the Special Achievement Award. The Award is only dedicated to one recipient per country, and winners are entrepreneurs who have shown remarkable performance in their communication of the visions, brands, and strategies, setting new standards, and leading their business to success over a sustained period of time. Other notable winners of the APEA include Mr Ashish Khemka, Chairman and Managing Director of AMN Life Science Pvt. Ltd (Outstanding Category); Baker Hughes, a GE Company (Corporate Excellence Category); and D-Link (India) Limited (Corporate Excellence Category). According to Ng, “We are proud to be the oldest business awards program in Asia and have been privileged to shine the spotlight on some of India’s exceptional game changers of tomorrow, whose entrepreneurial spirit in growing successful businesses have made a positive and enduring impact on their community and country. Beyond recognising the efforts of these extraordinary entrepreneurs and management teams behind responsible and dynamic businesses, we hope to encourage them to continue taking their businesses to the next level, and in the process, encourage even greater entrepreneurial activity. This is aligned to Enterprise Asia's purpose, Democratizing Entrepreneurship, Institutionalizing Sustainability and Empowering Innovation.”

15 Winners honoured at the 10th Asia Pacific Entrepreneurship Awards 2019

<keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> on Thursday launched its pan-India startup challenge, “UberPITCH 2016”. MoS of Commerce and Industry Smt <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> kicked off this year’s challenge. 
 
In this event Entrepreneurs will get to pitch their business ideas to investors and venture capitalists, during a specially organized Uber ride. 
 The <keyword id="2996021" type="UNKNOWN" weightage="20" keywordseo="UberPitch">UberPITCH</keyword> challenge enables entrepreneurs to pitch their ideas to investors while they take a cab ride with them. Selected entrepreneurs will get seven minutes to pitch their ideas and another seven minutes for feedback. 
 Speaking at the event Ms <keyword id="2535200" type="PERSON" weightage="20" keywordseo="Rachel-Whetstone">Rachel Whetstone</keyword>, Senior Vice President, Communications and Policy, Uber said, "I had an inspiring morning chatting with Indian women entrepreneurs who are coming up with great ideas and trying to solve hard problems. It was an honor to be able to share some of my experience with so many women who are clearly committed to making a difference. I’m pleased the <keyword id="3196548" type="UNKNOWN" weightage="20" keywordseo="uberEXCHANGE">UberEXCHANGE</keyword> program is helping them unlock their potential.” 
 
Ms Whetstone and Ms. Sitharaman discussed how the landscape for women entrepreneurship is evolving in India and the importance of government-private partnership in facilitating the growth of startups. 
 
“We are highly supportive of initiatives like UberEXCHANGE &amp; UberPITCH that strengthen the current start-up space through mentor led knowledge-sharing and enable entrepreneurs to realise their potential. I’m excited to see how public-private partnerships are helping catalyse conversations and investment opportunities for Indian start-ups, in pursuit of our vision around Start-Up India,” said Nirmala Sitharaman 
 
Also, 3 UberPITCH finalists will feature among the top 10 startups that will be given a free ticket to Silicon Valley to meet the leadership team at Uber as well as exchange notes with big-ticket investors.

UberPITCH 2016: Pitch your million dollar idea to VCs during a cab ride

Finance Minister Arun Jaitey offered a sneak peek to the congregation of global investors, VCs, top CEOs and startup owners into the government initiatives and visions for the startup community in India, as Prime Minister Narendra Modi’s ambitious <keyword id="3003094" type="UNKNOWN" weightage="20" keywordseo="Startup-India">Startup India</keyword> Standup India kicked-off at Vigyan Bhawan early on Saturday. 
 
 
Calling it a landmark event, he said, “Unlike other events where we see the well-known startup founders, here I see a large number of potential entrepreneurs at Start Up India launch l am not even familiar with. They are not the usual suspects and that’s what makes this event what it is.” 
 
While highlighting the challenges in front of the Modi government, he said: “If I look back at the changes some of them are extremely significant. I find thattraffic of industry visiting North Block has ended since PM Modi came to power. There are no files to be pushed. That’s a massive change.” 
 
 
The Finance minister said that the government is engaging with the business community, and the interaction will only grow in times to come. 
 
 
“We did well to break off from the Licence Raj in 1991, but that break was only partial... Our efforts is to further restrict the role of the government. It’s going to be the eventual freedom from the state that Indian entrepreneurship will enjoy.The DIPP will be a facilitator in this journey,” the Finance Minister said, adding that government will help enable the support system comprising easier capital flow and friendly tax regime that will allow Indian entrepreneurs to build enterprise, use technology and implement innovations. 
 
 
He, however, pointed out that while India is emerging as one of the fastest growing economies in the face of a slowing world economy, the country is reeling under its own challenges. 
 
“We have advantages like a booming services sector, increased foreign investment coming in, increased public spending. These are engines keeping this growth rate alive. However, we also have a large portion of our agricultural production being rain-fed, private investment is slow. On one hand the government has limited option to create jobs, on the other the private sector expansion has put stress on the banking system. It’s under these circumstances, the government has to explore new areas. Startup India, Standup India is one such step in this regard,” he said. 
 
 
As he concluded the speech, he assured more entrepreneur-friendly measures in the coming Union Budget, and helping in facilitating increased role of women and SC/ST entrepreneurs in future.

Startup India, Standup India: License Raj was partial break, we want startups to have complete freedom from govt, says Arun Jailtey

With the start-up boom, increasing number pf entrepreneurs are coming on board. So much so that they are entering the super-rich list too. The debutants include <a href="http://www.businessinsider.in/You-may-soon-be-hopping-on-to-an-Ola-bus/articleshow/48155360.cms">Ola</a> founders Ankit Bhati, 28, and Bhavish Aggarwal, 29, who are also the youngest on the list. With their personal fortunes estimated at Rs 2,385 crore each, the duo are jointly ranked 238th.
 

	While the top spots are occupied by the old players, <a href="http://www.businessinsider.in/Reliance-Capital-Nippon-Life-Insurance-To-Start-A-Commercial-Bank-In-India/articleshow/41437313.cms">Reliance Industries</a> chairman <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> ranked numero uno with a net worth of Rs 1.6 lakh crore, the list also has some surprising new entrants. The Indian who posted the biggest gain in wealth over the past year is reported to be Dhiraj Rajaram, the 40-year-old founder of Bengaluru-based analytics firm <keyword id="6713503" type="COMPANY" weightage="100" keywordseo="Mu-Sigma">Mu Sigma</keyword> are some to state. Rajaram saw his personal fortune rise six-fold, to Rs 17,800 crore. His ranking has risen 127 spots to No. 38, according to the Hurun India Rich List for 2015. There are 76 new faces among the 296 who made it to the Hurun India Rich List this year, with the cut-off level being personal wealth of Rs 1,600 crore. Apart from <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>'s Bhati and Aggarwal, other prominent tech entrepreneurs on the list include <a href="http://www.businessinsider.in/Flipkarts-new-move-will-make-it-the-dream-destination-for-all-sellers/articleshow/48574598.cms">Flipkart's</a> Sachin Bansal, 34, and Binny Bansal, 34, whose estimated wealth of Rs 9,010 crore each puts them at the 85th spot, a rise of 58 positions. Snapdeal's Kunal Bahl, 32, is a new entrant, jumping straight to the 243rd spot with a wealth of Rs 2,314 crore.
 <keyword id="198636" type="PERSON" weightage="100" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, 38, of mobile wallet and ecommerce firm <a href="http://www.businessinsider.in/Now-refill-your-Paytm-wallet-at-the-nearest-kirana-store/articleshow/48770295.cms">Paytm</a>, and Naveen Tewari, 39, of the mobile ad network InMobi are also a part of the list.
 

	Most of these technology and internet companies have raised significant amounts of private equity capital at substantial valuations over the past year. Flipkart's latest fund raise valued the firm at $15 billion, and Snapdeal's valued it close to $5 billion. Most of the new-age startup founders are also exceptional in that they are self-made; 85% of those in the list are part of family businesses.
 

	"Despite the weakening of the stock market and the rupee, the Hurun India Rich List expanded by 76 entrepreneurs, showing the resilience and dynamism of the Indian private sector," said Anas Rahman Junaid, India head, Hurun Report. The Hurun Report was started by researcher Rupert Hoogewerf. The first report, in 1999, was on the rich in China, and Hoogewerf has since been regularly bringing out a China rich list. The India initiative began two years ago.
 At the top, Mukesh Ambani was followed by Dilip Sanghvi of Sun Pharma, S P Hinduja &amp; family of the Hinduja Group, Shiv Nadar of HCL, and Pallonji Mistry of the <keyword id="261354" type="COMPANY" weightage="100" keywordseo="Shapoorji-Pallonji-Group">Shapoorji Pallonji Group</keyword>. For the first time, Wipro chairman <keyword id="6419840" type="PERSON" weightage="100" keywordseo="Azim-Premji">Azim Premji</keyword> fell off the top 5 rankings. He's now at the seventh spot, with his net worth plummeting 59% to Rs 51,900 crore. 
	 
	(Image credits: Indiatimes)

New age Indian entrepreneurs enter the super-rich list, Ola founders the youngest

Startup entrepreneurs want the Indian government to design policies that favour homegrown companies, playing the nationalism card. 
 Speaking at the Carnegie India Global Technology Summit in Bengaluru, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>'s <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> of <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>, etc said more push was required to promote Indian enterprises. 
 
"What we need to do is what China did (15 years ago) and tell the world we need your capital, but we don't need your companies,” said Bansal. 
"What's happening in both our industries (is that) there is a narrative of innovation that non-Indian companies espouse but the real fight is on capital, not innovation. The markets are being distorted by capital,” said Aggarwal. 
 
The entrepreneurs say capital inflow is quite important now and the foreign companies are burning cash in a price war. 
 
As per both of them, more American companies in India will impact job creation in India. 
 Flipkart and Ola are important in determining investor sentiment for <keyword id="982553" type="UNKNOWN" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> as the two companies have raised a combined $4.4 billion, and their valuation will likely take a further hit if they lose their top standings. 
 
Sharad Sharma, cofounder of software products think-tank iSpirt, said, “India's implicit policy is that it is a level playing field, but the actual practice is not that and is tilted towards the MNCs. Government needs to put mechanisms in place to create a true level playing field.” 
 
"The crux of what makes a company Indian is the entrepreneur and the management team, and where they are based,” said Aggarwal, adding “There is a glass ceiling for the Indian startups. If I want to meet the PM it won't be as easy as a foreign guy coming to India. I understand that dynamic and we need to make sure government sees us as major contributors to society, which is not fully there.” 
 
(Image: Thinkstock)

You Searched For "India s top entrepreneurs" and got 9 results

Top CEOs from India are raising funds to set up a technology university

Sanchita Dash

India’s top entrepreneurs promise to make way for 100 Unicorns

BI India Bureau

India's top yogi-cum-entrepreneur just set a yoga world record

Prabhjote Gill

India has potential to be in Maserati's top 10 global markets in mid term: Co-official

PTI

15 Winners honoured at the 10th Asia Pacific Entrepreneurship Awards 2019

BI India Bureau

UberPITCH 2016: Pitch your million dollar idea to VCs during a cab ride

BI India Bureau

Startup India, Standup India: License Raj was partial break, we want startups to have complete freedom from govt, says Arun Jailtey

Anushree Singh

New age Indian entrepreneurs enter the super-rich list, Ola founders the youngest

BI India Bureau

Sachin Bansal, Bhavish Aggarwal say India needs more capital, not foreign companies; play nationalism card

BI India Bureau

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