Businesses must nurture startups without seeking ownership: Zomato's Deepinder Goyal

economictimes.indiatimes.com:

businesses need to nurture and invest in startups but not with an intention of owning them, Deepinder Goyal, founder and CEO of food-delivery company Zomato said on Tuesday.

“I think established businesses need to nurture startups…and I don’t think we have that kind of a culture yet, and larger businesses also need to start funding startups but not with an intention to own them but with an intention to help them become bigger,” Goyal said, at the curtain raiser event of the Startup Mahakumbh, which is slated to happen on March 18-20.

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Adding to the Zomato chief executive’s comments, Info Edge India vice chairman Sanjeev Bikhchandani said that investing in startups was one of the key strategy areas for Info Edge. The Noida-based company is an investor in Zomato.

Zomato, holds stakes in consumer tech startups, including hyperlocal commerce platform Magicpin, ecommerce enablement startup Shiprocket, and health and fitness firm Cultfit.

The central government is organising the Startup Mahakumbh event as a congregation of more than 1,000 startups and over 1,000 investors including angel investors, high networth individuals, venture capitalists as well as family offices.

Bikhchandani is on the organising committee of the Startup Mahakumbh event along with Accel