Get All Access for $5/mo

Ratan Tata Backs Companionship Startup For Senior Citizens Goodfellows The startup plans to expand the project within Mumbai ad to Pune, Chennai and Bangalore and, will also offer travel companionship to senior citizens who hesitate to take trips because of the insecure feeling or lack of company

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Ratan Tata Twitter handle

Industry leader Ratan Tata, on Tuesday, announced a undisclosed amount of investment in Goodfellows, a startup that offers companionship to senior citizens as a service. The startup was founded by Shantanu Naidu, a close mentee of Tata and a general manager in his office.

"You do not know what it is like to be lonely until you spend time alone wishing for companionship. No one minds getting old till you actually get old. Getting a good natured companionship, which we take for granted, is a challenge," said Tata in a statement.

Naidu addressed Tata as a boss, mentor and a friend. He also said that there are 50 million elders who are alone. "The startup hires young graduates with the right empathy and emotional intelligence skills to 'work' as the senior citizen clients' companions and ease the day for them with any tasks or just talk with them," said Naidu.

As per reports, Goodfellows was formally launched in Mumbai and has successfully completed a 'Beta Phase' over the past six months. Around 20 carefully-vetted young fellows were on-boarded and paired them with grandpals from Mumbai. As per Naidu's statement, the startup plans to expand the project within Mumbai ad to Pune, Chennai and Bangalore. It will also offer travel companionship to senior citizens who hesitate to take trips because of the insecure feeling or lack of company.

"I salute this effort that gives one's time and effort to make another person's happiness more secure, without expecting anything in return. I salute the fellows who are doing this, but don't have to do it. A group of young and intelligent young people who could do other things for themselves," said Tata, during the launch of the startup.

As per reports, for the programme's Beta Phase, the startup received 800 applicants from young graduates, out of which 20 were shortlisted. The applicants were carefully vetted with a in-house psychometric test for empathy, kindness and reliability. The team also conducts background checks of applicants and police verification of the finalists.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growth Strategies

Amazon To Improve Services In Tier II, III Cities: Samir Kumar, Country Manager

The bigger share of our business is coming from Tier II,III and beyond, says Samir Kumar, country manager, Amazon India

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

News and Trends

Former Cleartrip CEO Ayyappan R Eyes Quick Commerce with FirstClub

After stepping down as Cleartrip's CEO earlier this year, Ayyappan brings his expertise from leading positions at Flipkart, including his role as chief business officer at Myntra.

News and Trends

AWE Funds to Scale Women-Led ClimateTech Initiatives with CGEF Grant

The grant will empower AWE Funds to expand initiatives, invest in women-led climate companies, enhance accelerator programs, and launch a fellowship nurturing young women professionals in climate and sustainability.

News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.