Finance Minister Arun Jaitley on Saturday kick-started StartUp India mission at Vigyan Bhavan in New Delhi.
Masayoshi Son, founder and CEO of Softbank says, “I look at the eyes and ideas of an entrepreneurs-which field and passion, before investing. Last year alone Softbank invested USD 2 billion in India… If we rescale, it will only go up”.
What excites Mr Son about India: Smart people, young people, IT, Sunshine and ability to speak in English. India can be bigger in momentum than China in next 10 years; 21st century belongs to India.
“It is not the technology that we will back, we will invest in companies that use technology to disrupt businesses,” says Masayoshi Son. He says, that this is the beginning of big bang start up boom in India. Wireless connectivity in India is still slow, still expensive.
“You know I was richer than Bill Gates, than our share price went down, I recovered by passion, passion. Passion more important than making money”
– Softbank founder Masayoshi Son
The launch of this programme is attended by biggies like SoftBank Chief Executive Officer Masayoshi Son and Uber founder Travis Kalanick along with 40 top CEOs and founders of startups, venture capitalists and angel investors from Silicon Valley. They will be among the big names addressing the startup lobby of the country. With this initiative the government wants to create a startup-friendly ecosystem which in turn will be a potent means of creating jobs that will boost incomes and growth.