Don’t be afraid of failure, Parrikar tells entrepreneurs
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Don’t be afraid of failure, Parrikar tells entrepreneurs

In his inaugural address, Parrikar said that India faces many challenges as a country with a population of 136 crores.

pune Updated: Sep 17, 2017 17:06 IST
Namita Shibad
Namita Shibad
Hindustan Times, Pune
Manohar Parrikar,IIT,Indian Institute of Technology
Manohar Parrikar at the Startup Master Class in Pune on Saturday.(Pratham Gokhale/HT PHOTO)

“Don’t be afraid of failure. Put in everything you have and you will find the key to success,” Indian Institute of Technology, Mumbai, alumnus and Goa chief minister Manohar Parrikar said in his inspiring address to entrepreneurs at the Startup Master Class mega event here on Saturday.

“Failures teach you a lot. It is only after you fail that you learn a lot of things. Startups should not fear failure,” he said. Honouring his commitment to fellow IIT alumni to be present at the Pune event, the absence of a direct flight did not keep Parrikar away from the Startup Master Class (SMC) organised by IIT Kanpur Alumni Association’s Pune chapter. Parrikar drove to Pune from Mumbai and at 9 am sharp pressed the digital button to inaugurate the SMC.

In his inaugural address, Parrikar said that India faces many challenges as a country with a population of 136 crores. “And with the advent of social media, people have become very impatient; they want solutions immediately. I think it is the startups who can solve the problem of unemployment,” he said.

Parrikar stressed that startups can be job creators for the country.

Organised in collaboration with FundHound and the NASSCOM initiative, 10,000 Startups, this mega event has been sponsored by none other than two IITians themselves- Sushil Agarwal, founder of Tejas Infrastructure and Vert Blue, and Sanjeev Sinha, president Research Institute of Next Generation ( A large number of startups enrolled for the event with a number of panel discussions and interactive sessions with potential investors.

Parrikar in his speech regretted that the quality of education was extremely poor and 80% of the youth were unemployable. Indians lacked self-discipline and a sense of responsibility towards keeping their surroundings clean. “If each one of us takes up the commitment not to litter then the problem of garbage every where can be solved overnight,” he said.

The former defence minister spoke of his initiatives to encourage startups in Goa. He said Goa has launched ‘CM Yojna’ to help startups. “In this scheme, the government is your partner. We give 50% of the capital required by a startup. This is given interest-free and for a period of 10 years. We contribute up to 10 to 15 lakhs. All you need is a personal guarantee. So far we have spent ₹186 crores on this scheme and of this 98.3 per cent repayment on time or even before time. For those who pay on time we give a subsidy of 25%. India has a lot of potential for startups, it’s just that we need the ignition to light this up,” he added.

Speaking on the Mumbai – Ahemdabad Bullet train, he said, “People are criticising this but what they don’t realise is that it will open up huge opportunities for startups. There will be a lot of technology, innovation and ideas that will come with this. This is what they are overlooking.”

First Published: Sep 17, 2017 17:05 IST