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Unicorns meet with Piyush Goyal, propose to create an Indian startup club

News update

In a first-of-its-kind meeting, 54 of India’s 111 unicorns met Commerce and Industry Minister Piyush Goyal on Wednesday. The discussion focused on the growth trajectory of the Indian startup ecosystem, the role of domestic capital in nurturing and scaling up startups and India’s position in the international startup landscape.

The Unicorns planned to start the Startup Club of India, which could collectively raise issues with the government and on other platforms to improve the startup ecosystem in the country. Vijay Sekhar Sharma, founder of Paytm said, “The minister brought up the idea of ​​creating a unicorn club or startup association, which was a good idea and we will try to create a unicorn club or startup association.

With startup associations, we can also come up with many solutions like tying up with bankers and investors to access capital.” Rikant Pitti, Co-Founder, EaseMyTrip; Sandeep Aggarwal, Founder of Droom; Vijay Sekhar Sharma, founder of Paytm; Deepinder Goyal, Founder, Zomato; Aman Gupta, co-founder of BoAt; and representatives of other unicorns like Flipkart, Phonepe, Swiggy, OYO and Zerodha were in the meeting which lasted for more than 4 hours.

Speaking after the marathon meeting, Rikant Pitti said that such meetings are held once in a while and said, “We discussed domestic capital versus international capital and how to deepen the startup ecosystem in the country.

We discussed the challenges we face. All Unicorns founders have submitted proposals to the Minister. I belong to the tourism industry and recently we launched the «Nation First, Business Later» campaign, we discussed that as well.

“Sandeep Aggarwal said the discussion was for our business community. “We ask the minister to settle the company law issues related to startups.

The second issue was access to capital; how can we increase access to capital in Tier 3 cities? and some tax issues were widely discussed. The minister was very receptive to our suggestions,” said Aggarwal.

These startups not only develop innovative solutions and technologies but also create large-scale employment and contribute to the growth of the nation.

Unicorns are gaining prominence in the Indian growth story as they take the Indian startup story globally and attract investors from around the world to invest in Indian startups.

Smita Deorah, co-founder of Lead School, said: “It was very rewarding that the government was open to accepting our ideas or suggestions.

It also gives us great hope as we build our business for India to build and grow.

“Sanjiv, Joint Secretary, DPIIT said, “The purpose of this meeting was to improve the startup ecosystem of the country. The founders of Unicorn are great mentors.”

«We got suggestions from them. With their mentorship, we want to build the world’s number one startup ecosystem.»

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