“The start-up economy in India is booming. In the next couple of years, it will be huge,” Ericsson India Global Services Managing Director Amitabh Ray told PTI on the sidelines of Infocom ICT seminar here.
He said Ericsson is studying how the start-up ecosystem is being built in India.
“We want to see how the start-ups are doing and what kind of disruptions can it bring. If we find that any start-up needs mentoring, we can think of it,” Ray said.
When pointed out 99 per cent of the startups were failing, he added VCs hire people who were expert in killing companies which do not have a future in order to stop the drainage of resources.
To a query, he said Ericsson does not have plan of funding start-ups as of now.
With around 22,300 people working in India, Ericsson caters to customers globally. It has R&D centres in Bangalore and Chennai.
Source: ET Tech