A senior official of Telangana government on Saturday urged aspiring entrepreneurs not to get bogged down unduly by the high failure rate among startups. “Either you win or learn,” is what Secretary of Board of Intermediate Education A. Ashok said, seeking to highlight how there are key takeaways from failed ventures.
“The high rate of failure among start-ups should not deter anybody from moving forward,” the official told a workshop on ‘Board skills for startups’ organised at T-Hub here by the Institute of Directors (IOD). Mr. Ashok, chief guest, also referred to the enabling environment for entrepreneurs in place in the State. Among the measures initiated by the State government in this direction were the TS-iPASS industrial policy, offering time bound approvals for projects, as well as availability of uninterrupted power supply.
The half-day workshop came in the backdrop of Telangana emerging a hub for startups and the need to have directors who can help the enterprise seize opportunities as well as alert them about the risks.
Addressing the programme, founder of La Mintage Consulting L.L.P. Moksha Kalyanram Abhiramula said the board of startups should be diverse and not made up of family members. President of Crux Management Services Pvt. Ltd. Vikas Singh said entrepreneurs ought to pay attention to recruitment, with the emphasis on recruiting people better than them, and in terms of delegating work.
IOD Secretary (Telangana and Andhra Pradesh) T.V. Shiva Rao and chairperson of Institute of Company Secretaries of India, Hyderabad, Kavitha Rani Sakhamuri were among those who spoke.
