Indian start-ups need an ‘open-minded mentality’: Spinta CEO

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To give wings to new start-ups on the global platform, the Indian and other Asian markets must introduce ‘open-minded mentality’; a platform where ideas can be shared and accomplished, says Prashant Parekh, the Indian-origin CEO of a US-based company Spinta Global Accelerator.

Citing Silicon Valley as an example, he said, “There is a certain open-minded mentality among the people in Silicon Valley.”

Parekh’s firm, Spinta Global Accelerator, is already taking steps in the direction to bring across innovation and investments from Silicon Valley to the Asian Markets. The firm develops ideas and concepts for start-ups and develops new technologies based on the market trends.

Parekh, who organised a road-show to promote Spinta said, "Everybody wants to emulate and aspire to be Silicon Valley, which is a Mecca for start-ups. Most of the innovations happen in Silicon Valley and they make it big because it is a state of mind. But in South East Asia, people are very protective of their ideas. They would not do anything unless a non-disclosure agreement is signed."

He also urged Asian technology start-ups to be "open-minded" and share their ideas. What more, he asked them to collaborate for the product development for global business models which are shifting rapidly.

Spinta has the capacity to help start-ups from the early stage and reduce the risk of failing, Parekh said.

"The experience that Silicon Valley has - they have been creating innovation for years now. The maturity the people have and the learning experience from failure over the years. That is what we want to bring out to India and Singapore as well as other places.

We know that 95% of the start-ups fail. And that is why they need help. There is a lot of help needed as they don't have enough resources for research work and the right kind of matured mentors," said Parekh.

Spinta, through its Indian team under KloudData, has expertise in mobility, analytics and cloud among others.

"There is no better time for entrepreneurs to start a company than now. Innovation is mother of everything and with innovation countries could do very well," he said.

Image: thinkstock
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