Ratan Tata, chairman Emeritus of Tata Sons, said he would continue to invest in innovative start-ups in the coming years.
In an exclusive fireside chat session hosted by Sudhir Sethi, chairman of Chiratae Ventures, on the topic ‘India – A Thriving Entrepreneurial Ecosystem’, here on Thursday, Mr. Tata said “I would like to see my presence grow in the sector based on the funds funds one has to be deployed. But the excitement of being in the new areas, participating in something that has not been done is the most exciting and absorbing thing. This is something I am looking forward to in the coming years.”
He said though he was interested in investing in start-ups while working in the Tata Group, he stayed away to avoid conflict of interest.
But after retirement he looked at investing in start-ups based on his perception rather than numbers while choosing the companies and entrepreneurs he invested in. He said he took great personal risk while investing in start-ups and added that contrary to common perception, he had no deep pockets and invested his own money in start-ups he found worthy.
Asked which sector he would prefer to invest, Mr. Tata said “On the technology side many breakthrough are happening which is not confirmed to any one sector. There is opportunity in health care, medical treatment, online space and manufacturing.”
Speaking about the sector he said, “I am glad that it is growing and becoming so prominent. Now, more and more big companies will recognise that there is another way to do something and that something might be the better way to do cheaper and most cost effective way...... it is a great thing for India.”
He said “We are entrepreneurs at heart. What we need is opportunity to flourish. And I think start-ups are doing just that. I wish them all success,” Mr. Tata said.
Mr. Tata was also honoured with the Chiratae Ventures Lifetime Achievement Award 2019 at an event in the city.
