Plenty of Opportunities in Cultural Entrepreneurship Across Deeper Depths of India: TIE Padaki added that TIE observes continued interest in healthcare, medtech services, and healthcare solutions and has over 800 startups that have applied for the program while speaking to Entrepreneur India at the Bengaluru Tech Summit 2024.
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"We are seeing a lot of investor interest in anything related to AI and it will continue. But from a TIE angle, where we are seeing good interest is in the whole climate area," said Madan Padaki, Chapter President at TIE, a non-profit organization that is dedicated to networking and fostering entrepreneurship via mentoring.
Padaki added that TIE observes continued interest in healthcare, medtech services, and healthcare solutions and has over 800 startups that have applied for the program while speaking to Entrepreneur India at the Bengaluru Tech Summit 2024.
"We are more about entrepreneurship. Startup is only one manifestation of the whole entrepreneurship pyramid. Our focus is that from a larger country standpoint, you need a lot more job-creating enterprises to be created rather than only startups," said Padaki.
According to Padaki, unicorns are at the top of the pyramid. The bottom of the pyramid should be made up of nanocorns. By TIE's definition, a nanocorn is an entrepreneur or a startup that generates at least 20 jobs and operates in nanomarkets.
Padaki said that one of TIE's larger focus areas is how to generate more enterprises to scale and to reach that critical mass of 15-20 people for the last 30 years has identified 5 areas such as networking, learning, incubation, mentoring, and funding. Since TIE is a non-profit organization, it helps startups base through its global angel network.
On speaking about the vibrancy of businesses outside of metro cities, Padaki said, "We are focusing on cultural entrepreneurship. Artisanal products, tradition, Mysore's yoga, and stories like Jaipur Rugs, took its rug weaving expertise and made it global. So we think that there are enough opportunities to take local art, tradition, and culture, package it, and put it on some tech platform which could also be open networks."
