Mumbai, 21 April 2023: With the start-up culture currently booming in the country, Infosys co-founder NR Narayana Murthy advised aspiring entrepreneurs to prioritize perseverance and long-term thinking to achieve success in their new ventures. Sharing from his experience, the tech czar, who built an empire worth more than 5 lakh crores INR, recommends viewing start-ups as a “marathon” rather than a “100-metre dash.”
Opining the challenges witnessed in the Indian start-up ecosystem in recent years, Murthy in conversation with TV9 Network Managing Director & CEO Barun Das points out that several factors have contributed to the decline. One of them being the absence of a world-class market research company in India.
He underlined that, “We do not have a world-class market research company in India. If we had such a company, then entrepreneurs could get the correct market size estimate.” He added that, “Unfortunately, in the absence of determining the correct size of the market, youngsters and venture capitalists tend to overestimate it.”
Regarding the issue of massive layoffs in IT industry in the wake of the global economic slowdown, Murthy expressed confidence in Indian businesses to protect themselves.
Referring to Indian companies as a “good value for money in software services,” he asserts, “My belief is when there is a downturn in the US, generally, if we are hardworking, disciplined, innovative…, we will have good opportunities.”
Murthy, who appeared on the TV9 show ‘Duologue With Barun Das’ with his wife Sudha Murthy, a renowned author and chairperson of Infosys Foundation, shared his insights on several topics including India’s start-up landscape, layoffs and opportunities IT industry.
Recalling his early days in Infosys, he even shared several business lessons for building a successful and a thriving venture.