Executive chairman of Cisco, John Chambers has launched a USD 70 million fund focused on emerging India’s startups market, said in an interview with CNBCTV-18. He also mentioned that the booming Indian Startup ecosystem has got him so excited that he would possibly consider investing some money of his own in the near future.
All of you must know that Cisco’s interest in startups and entrepreneurship isn’t all of a sudden. The Chairman of the California-headquartered company always keeps his eye on the Indian economy and the growing startup sector. Chambers coaches around 30 startup CEOs every month and interacts with 7,000 startups a month and 1—15 individual ones and guides them on how to make a success and stand out.
He believes in startup ecosystems and says, “Big company may or may not add headcount over the next decade and government may or may not, the engine of economic growth whether it is 100 and 1.2 million people a month in India or in the US 200 to 250,000, it will be largely start-up driven.”
During the US visit of Prime Minister Narendra Modi, Chambers conjointly applauded for his effort on schemes and reforms launched in recent times including Digital India, GST and demonetization, and for creating the right environment for doing business in the Indian subcontinent. Further, he said, “3-4 years ago many countries were hesitant about investing in India and making a partnership and it being a two-way approach, today you do not see that at all.”
Cisco, the U.S-based Silicon Valley company that revolutionized the world of digital networks operates in India from last two decades. It had set up its second world headquarters in India, and the largest outside the U.S in 1995, to that he claims as of how beliefs on the growing Indian economy.