City of Pearls need a unicorn

Hyderabad: There are books on startups available in the market but for the first time startups in Hyderabad are going to be featured in a book.

Serial entrepreneur, mentor and angel investor Raj N Phani, who is also the publisher of 'Made in Hyderabad' - a story about few trail blazers of the city, said: "Such success stories motivate many a youngster to take up the entrepreneurial journey in the right approach."

The book is scheduled to be released on June 28, 2019 (today) by former IT minister and TRS Working President KT Rama Rao.

After having evaluated 85 companies, the writers have penned down stories of 25 startups and their founders, to be known across the globe. Speaking with The Hans India, Raj N Phani, also founder of Zaggle startup, says: "The startup ecosystem in Hyderabad is galvanising at a very rapid pace.

We had a very dull period from 2009 till 2014. In 2014, some initiatives taken by the State government was directed towards promoting entrepreneurship in Hyderabad.

With the change in framework of policies, we could see a phenomenal expansion of startups. Now, plenty of gems have arisen from mushrooming startups which we plan to showcase to the world."

However, the city is looking forward for one Unicorn to take shape which is critical for attracting investments in the startups space, he adds.

Without revealing details, Phani says that the book has covered few startups which has received $50 million funding and above, having the competence to be the next brand ambassadors.

He goes on to say, "Every failure is a success in making. The beauty of a startup is to experiment. Basic adage is that if you want to fail then fail fast and go to your next idea, do not burn too much capital before you fail."

According to him, it's not only the two Telugu states but the country itself is growing through different stages of learning, discarding, relearning and the stage of discarding again.

Citing the increase in number of restaurants closing contrary to the increase in food deliveries, he says that creative destruction is creating a new business model which is being developed by these startups.

In support of startups to grow and their service or product to find a market and wider acceptance, Phani bets on patient (patience) capital.

"India lacks patient capital as they want everything to happen fast. But we need to constantly invest in what we think is going to change the order of the day. Given about ten years down the lane we will see tremendous change," he states.

The Telangana government's intervention through the upcoming world's second largest business incubator T-Hub Reactor in the city will attract finance and human capital he claims.

'The Telugu state earlier known for pharma and IT is now known for ease of living.

In the next three to four years, it will be on par with other few cities and down the lane – the San Francisco of India (in regard to startup ecosystem), as the incubation centre will attract entrepreneurs to start their entrepreneurial journey here,' he adds.