 "Startups can be engine of growth, help create jobs: Modi")
Noting that mega corporations were once startups, Prime Minister Narendra Modi compared his new government to a startup that had its own share of bumps.
"When I shifted to Delhi last year, I thought of my government as a startup. I also saw some of the bumps you face on the road," Modi told members of the startup community from India and the US here.
The mega corporations of today were startups of yesterday, he said, adding that what is different now is that the digital age has created a fertile new environment for startups. The idea of startups, he said, is close to his heart.
"The course of human history and progress has been shaped by imagination, inspiration, invention and innovation. I often say, if there's a strong wind blowing, some might want to shut the window. Others will want to put up a windmill or launch their sails on the seas.
"The difference between perception of something as a challenge or an opportunity is the difference between inertia and initiative; status quo and progress," Modi said.
Noting that the idea of startups is as ancient as this world, Modi said each economic age has been defined by disruption of the previous one, by the evolution of ideas and products that displace the old ones. Startups have always been the engine of progress.
"This is a world in which you don't grow by extracting resources, but by spreading an idea. More than the creator, it is the consumer, who discovers applications," he said.
Today, the startups defy the natural rates of growth. An idea can become a global name within a year. Customers can multiply at the rate of millions, employees at the rate of thousands and valuation at the rate of billions, he said.
The convergence of technology, integration across diverse fields, distributed architecture and people willing to back an idea have opened a new world for enterprise.
"This ecosystem was born in the Silicon Valley. No community is shaping our world as much as the one on this Californian Coast. It isn't just big names, but small firms that are fashioning every day new ways to enrich human life with the joy of artists and creators. That underlines America's success and inspires the world," he added.
Modi said he sees startups, technology and innovation as exciting and effective instruments for India's transformation, and for creating jobs for youth.
"When I shifted to Delhi last year, I thought of my government as a startup. I also saw some of the bumps you face on the road," Modi told members of the startup community from India and the US here.
The mega corporations of today were startups of yesterday, he said, adding that what is different now is that the digital age has created a fertile new environment for startups. The idea of startups, he said, is close to his heart.
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"You are likely to wonder why, because governments and national capitals are supposed to stop or slow things down, not start them up. I know this was once the view of Washington from Silicon Valley and this is exactly how tech specialists in Bengaluru thought about New Delhi. I know that many of you think that the only problems that have not been solved are the ones for which you have not written apps yet," Modi said.
"The course of human history and progress has been shaped by imagination, inspiration, invention and innovation. I often say, if there's a strong wind blowing, some might want to shut the window. Others will want to put up a windmill or launch their sails on the seas.
"The difference between perception of something as a challenge or an opportunity is the difference between inertia and initiative; status quo and progress," Modi said.
Noting that the idea of startups is as ancient as this world, Modi said each economic age has been defined by disruption of the previous one, by the evolution of ideas and products that displace the old ones. Startups have always been the engine of progress.
"This is a world in which you don't grow by extracting resources, but by spreading an idea. More than the creator, it is the consumer, who discovers applications," he said.
Today, the startups defy the natural rates of growth. An idea can become a global name within a year. Customers can multiply at the rate of millions, employees at the rate of thousands and valuation at the rate of billions, he said.
The convergence of technology, integration across diverse fields, distributed architecture and people willing to back an idea have opened a new world for enterprise.
"This ecosystem was born in the Silicon Valley. No community is shaping our world as much as the one on this Californian Coast. It isn't just big names, but small firms that are fashioning every day new ways to enrich human life with the joy of artists and creators. That underlines America's success and inspires the world," he added.
Modi said he sees startups, technology and innovation as exciting and effective instruments for India's transformation, and for creating jobs for youth.