Finance must for startups

Hyderabad, July 11: A veteran has spoken recently. Finance industry veteran and Basix Chairman Vijay Mahajan has said that "financial institutions must develop a new form of financing to encourage startups".

He has also said that new financing system should be helpful to reduce the risk involved in startups so that the chances of failure comes down. He has said that startups must be encouraged because many these create a lot of employment and youth talent can be better utilized.

Mahajan has also said banks must not shy away from giving loans because of high failure rate . Finally he has lauded the government for promoting startups by giving various incentives but a lot more needs to be done so that unemployment in the country reduces.

Let's hope that financial institutions follow his advice so that number of startups emerge which are building blocks of the future of the country.