Startups are Hopeless, Will Not Create Enough Jobs: Kishore Biyani
Stating that startups are "hopeless" and 90 per cent of them "are not going anywhere", Future Group CEO Kishore Biyani today said. They have been made to look attractive only through daily full-page ads on newspapers.
Insisting that the startups must work on a bigger canvas, he said at the current state these new ventures would be too small to create the number of jobs which India requires.
"I think 90 per cent startups are not going anywhere. They are hopeless...In next three-four years revenues of these companies would not be more than Rs 3,000 crore to Rs 4,000 crore," Biyani said here at the Economist India Summit.
Lashing out at the functioning of these new companies, he said: "I think startup has become sexy because of one page ad everyday (on newspapers).
Otherwise I don...