Government will not be funding startups. VCs fund startups – Jayant Sinha

Taking the conversation on #StartupIndia forward, Minister of State for Finance, Jayant Sinha today participated in a Twitter chat hosted by YourStory. Not too long ago, he was leading the overall investment strategy and operations of Omidyar Network in India. An IIT Delhi and Harvard Business School Alumnus, he has been closer to the startup ecosystem than most of his compatriots.

He was quick, to-the-point and clear in his communication. Just the way startups like it. The VC-turned-minister spoke about funds, policies, taxation, schemes, and more. Along with Mr. Amitabh Kant’s twitter chat, this conversation speaks volumes about the future of interaction between policy makers and its subjects (in this case, startups). With just a couple of days to go before the mega event Startup India, the tone is being set just right for the launch of a detailed action plan in the national capital by the Indian Prime Minister.

Whether it’s the Rs. 10,000 crore startup fund, FDI policy or single-window clearances, the government plans to address most of these issues and questions that have floated around for a while now. One could also sense the clear competition among states to attract investment and become a hub for startups.

Here are the highlights from the twitter chat with Jayant Sinha and YourStory on #StartupIndia:

Speaking about the focus on non-English speaking entrepreneurs:

Where he spoke about Omidyar Network's investments:

Stay tuned for live updates on #StartupIndia on 16th January.

YourStory is a partner for the Government of India’s ‘Start-up India’ movement, to be launched on 16 January 2016 in New Delhi.