Something is rotten in the Indian Startup ecosystem. The ecosystem has been around over 20 years currently has almost 40,000 start ups. It claims to be second or third largest in the world.

It seems to be constipated. There just haven’t been any big exits to speak of. Everybody points to Walmart acquiring Flipkart. That is not a repeatable model. No body is focused on producing lean, mean, capital efficient and profitable companies. Entreprenurs are able to live good life without creating any real value.

It seems to be a bottomless pit for VC Funds. How long will LPs support Funds investing in India?

Indian government has its claws deep in the system and has made it hidebound. All sort of silly rules and silly infrastructure, like incubators and accelrators, are seen a support for the entrepreneurs. India needs to adopt a laissez faire approach. Let the entrepreneurs emerge in rough and tumble of the market. Let investors make unlimited amount of money or lose all their money. Let the exits happen any which way they may. Make the process very fast and tax efficient.

Energy in India

By Nadir Godrej

3rd June 2019

The elephant in the room is climate change

The weather now has a wider range

And though it seems exceedingly strange

Some blatant liars deny the change.

It wasn’t my intent to grouse

But this extends to the White House.

For energy we clearly see

That climate change is the key.

This is a problem for every nation

And until we succeed in sequestration

The constant emission of GHGs

Will very soon just have to cease.

Technology can pave the way

Technology can save the day.

It already has played a role

In getting us closer to the goal.

Economists quite quickly saw

That solar also tracks Moore’s law.

It already has surpassed the goal

Of being cheaper than dirty coal.

No one now can make the claim

That if development is our aim

We can’t afford to be green

No contradiction should be seen.

But to be completely fair

One challenge is clearly there

While wind and solar are both clean

One challenge though is clearly seen.

The critics justifiably scoff

These power sources go on and off

When both of them are in the mix

We easily can find a fix

The variability is then less

But all the same there is some stress.

Biomass can fill the breech.

For storage solutions we can reach

Super capacitors and batteries

Are the solutions one usually sees

But scientists are very bold

Thermal storage both heat or cold.

Mechanical is a way

Flywheels, pumps can also play.

I’m sure that all of you can see

We have enough technology.

The growth’s an exponential trend

We’re very far from the end.

But all the same we clearly see

The need in policy and economy

For constantly expanding innovation

In the service of the nation.

And though renewables have grown

Most of the money is still thrown

At coal. Hopefully we will see

Much progress in mobility.

The sharing economy is growing fast

Ownership’s a concept of the past.

If assets are better utilised

Of course the cost is optimised

And resources are better used

And Nature too is not abused!

There’s extra benefit we see

In the case of shared mobility.

The vehicle runs for many an hour.

This encourages electric power

As variable cost is very low

And even though as we all know

The capital cost is rather high

But since the cab is known to ply

For many hours, the high utilisation

Leads to lower amortisation.

And thus it is clearly seen

That shared mobility’s doubly clean.

Since Petrol and Diesel are quite dirty

Our Government by 2030

Wants an all electric fleet.

There is no better way to beat

Climate Change, that deadly scourge

Than to give up that senseless urge

To ruin our planet and our health.

We don’t need to compromise our wealth.

Green technologies can lower cost

By being green nothing’s lost.

But India is no pretty picture

The Discoms have their discomfiture.

Subsidies proliferate

The rate of theft is very great.

The Generators are not paid

Disastrously the game is played.

You can see I’m very cross

Alas! I am at a loss.

But don’t despair for very soon

You’ll hear from Arunabh and Arun.

Our speakers will show us the way

Their brilliance will save the day.

From them you’ll very clearly see

Innovation in technology and policy.

Does every thing about India have to be half assed? When we were socialist, we were half assed socialist. We did not do what socialists primarily do ,i.e., to invest in people. Look at Vietnam, Bangaldesh not to mention China. They have 100% or close to it, literacy and a fairly healthy population. For us socialism meant statism. Let government own everything for the benefit of politicians and beaurocrats!

Then we decided to become half assed capitalist. Not all markets opened up. Labor and land markets are as bad as ever. Make in India but not really!

Now India is trying to be a half assed entrepreneurial country. Here is a 185 definition of what you should be like to be considered a startup. Incidentally, you must have a certified innovation; certified by one of the government sanctioned entity.

No wonder we produce half assed results.

I wrote this piece in 1999. It is still germane.