Tata group chairman emeritus Ratan Tata, a serial start-up investor, said on September 20 that he will support startups that have founders who have passion to build sustainable company rather than scaling it up just to sell it.
Tata has been investing in startups in India and abroad. Some of these firms include Snapdeal, Urban Ladder, CarDekho, Xiaomi, Ola, DogSpot.in, CashKaro, FirstCry and Teabox.
“A founder who has a passion to stay with something and build it into a sustainable company is somebody I tend to support,” he said in an interview.
He further said a founder who wants to scale up a company just to sell it is not the one, obviously, you want to be with.
He said when he was the Chairman of Tata Sons, he could not take up investments in the startups as it would have conflicted with what Tata were doing.
“Now I am a free person and its invigorating to do this and I am meeting a lot of young people who one day will be the leaders of the industry,” Tata said.
Stressing the need to have vision, Tata said he would not invest in the business where he doesn’t have any interest.
“I am not going to invest in a business where I have no interest in, so the vision of the startup is important,” he said.
Source: Hindustan Times