Bengaluru: Infosys co-founder Kris Gopalakrishnan said that almost seventy percent of startups globally will fail and only five to ten percent will become large and scale up.
He was speaking at the announcement of the 12th Innovation Summit 2016 to be held on July 28th and 29th, of which he is the chairman.
“The key is what are the learnings, and how do we continue to nurture this,” he said. Kris Gopalakrishnan pointed out that Flipkart and Snapdeal have made their marks in the market globally and would be an example to people in the coming three to five years now.
“Both private equity and venture funding have slowed down for a different reason because exits are not there. When this happens, money is not recycled,” he said.
“Most of the venture funds are waiting for some exits to happen and the exits are happening through mergers and acquisitions – consolidation where you may no be able to get the full value of investment,” he said.
About 12th Innovation Summit 2016
CII is organizing its annual flagship event – the “12th India Innovation Summit 2016” on 28h and 29th July 2016 at Hotel Sheraton at Brigade Gateway, World Trade Centre, Malleswaram West in Bangalore. Mr Kris Gopalakrishnan, Past President CII & Co-Founder, Infosys Limited is Chairing the Core Committee of the eminent CEOs from prominent corporates and Institutes for the 12th India Innovation Summit.
The theme of the 12th innovation summit is “The Spirit of Innovation – Celebrating the Entrepreneur”