Computer Science Grads should become net entrepreneurs: Ajit Balakrishnan
"We need to resolve three paradoxes before we can create ten Indian internet companies as a one billion Dollar company," this was stated by Mr Ajit Balakrishnan Chairman and CEO of Redif.com at his special address at the 4th India Digital Summit organized by Internet and Mobile Association of India (IAMAI).
Tweet-- "We need to resolve three paradoxes before we can create ten Indian internet companies as a one billion Dollar company," this was stated by Mr Ajit Balakrishnan Chairman and CEO of Redif.com at his special address at the 4th India Digital Summit organized by Internet and Mobile Association of India (IAMAI).
Mr Balakrsihnan mentioned that the three paradoxes are:
- While globally successful internet companies are set up by computer science graduates, in India most of the internet companies are started by management graduates.
- While entrepreneur complain less VCs available to them, VCs says no entreporepreneurs available to them
- Internet Industry's revenue realization is less than 10% of countries which have similar internet user base.
Mr Balakrishnan, therefore, appealed the computer graduates to set themselves as an Internet Entrepreneur.
Addressing an earlier session of the event, Kit Desai, Strategic Commercial Director Of EMEA / Asia, Adtech suggested that there is a strong need to establish standards and guidelines for reporting outcomes; and bringing in more accountability in order to expand the online media business in India.
Notes to Editor
About IAMAI
The Internet & Mobile Association of India (IAMAI) is a not-for-profit industry body registered under the Societies Act, 1896. Its mandate is to expand and enhance the online and mobile value added services sectors. It is dedicated to presenting a unified voice of the businesses it represents to the government, investors, consumers and other stakeholders. The association addresses the issues, concerns and challenges of the Internet and Mobile economy and takes a leading role in its development.