Despite having a start-up friendly atmosphere, Mysuru needs a proper eco-system for tech start-ups to grow, according to experts participating in a conference on promoting start-ups in the city. Delivering the inaugural address of the conference on ‘Mysuru – the next tech start-up of Karnataka’, Naganand Doraswamy, managing director of Ideaspring Capital, a venture capital company based in Bengaluru, emphasised the role eco-system and incubators play.
He identified the absence of multinational companies and good connectivity with Bengaluru among the other lacunaes hindering the growth of start-ups in Mysuru.
Mr. Doraswamy said that funding and a talent pool were also critical.
“Eight to 10 extremely dedicated, intelligent and hard-working individuals are important for start-ups,” he said. About 13,000 graduates pass out of institutions in Mysuru district every year.
Referring to funding, Mr. Doraswamy said young entrepreneurs should make the most of the government grants offered for start-ups.
To promote young entrepreneurs, leaders in the tech industry in Mysuru should come forward and set up a core committee to guide the start-ups.
Mr. Doraswamy said that Bengaluru didn’t become the ‘start-up capital of the country’ overnight.
Technical-oriented institutions and companies began coming up in Benglauru about 40 to 50 years ago.
In the 1990s, the emergence of IT companies put Bengaluru on the international map.
Though start-ups began in 2005, they started receiving a lot of attention from 2013.
“Bengaluru attracted a lot of companies also because of abundance of talent, government policies and the setting up of software technology park of India,” he added.
Though tourism holds a lot of potential in Mysuru, Mr Doraswamy regretted the poor connectivity with Bengaluru referring to the condition of the 140-km highway between the two cities. “On a good day, one needs three hours and on a bad day, it takes more than five hours,” he said.
However, Achutha Bachalli, founder and chairman of Unilog Content Solutions, said that Mysuru is a good place to nurture ideas. Ideating is crucial for start-ups, he added.
Meanwhile, Arjun Ranga, chairman of CII, Mysuru, said that tier 2 cities provided low-cost manpower, cheaper real estate and more affordable amenities to young companies with limited budgets.
With India becoming a hotbed for tech-driven startups, opportunities and technology interventions are needed in the areas of agriculture, health, skill development and education.