Mr. J.A. Chowdary is the founder and chairman of International Startup Foundation – a prominent not-for-profit organization supporting the growth and development of the start-up ecosystem.
He was the founding director of Software Technologies Parks of India (STPI), Bangalore and laid the foundation to established a Vibrant Ecosystem for enabling Software exports & Software Development Centers in India.
He founded the International Startup Foundation (ISF) to promote and strengthen the startup ecosystem in India. Currently mentoring many startup companies in emerging technologies. J A Chowdhary is the Chairman for the India Blockchain Technology Standards Committee in coming with new standards for Blockchain Technologies under BIS/ISO.
DigitalCio.in spoke to Mr. J.A. Chowdary, to understand the complex environment of startups to navigate growth and sustainability to establish a vibrant startup Ecosystem.
ISF (International Startup Foundation) play a pivotal role with our 3M approach: Mentoring, Market Access, and Money.
Mentoring: We guide startups on what will work and what won’t, helping them make informed decisions.
Market Access: We provide startups with the connections and opportunities to enter the market effectively.
Funding: We offer early-stage funding to help startups grow and scale.
This 3M concept is at the core of ISF’s mission, helping start-ups in India and globally finds success through comprehensive support, ensuring they thrive in the ever-growing Indian and international markets.
Digitalcio.in: Can you tell us about the International Startup Foundation and what inspired you to establish it?
J.A. Chowdary (JC): The International Startup Foundation (ISF) is dedicated to fostering the growth of the start-up ecosystem in India. We are committed to providing the right platforms for startups to succeed not only in India but also across the globe. Our mission is to extend a helping hand to startups from around the world, creating a global support network.
Many startups, especially in their early stages, face challenges such as accessing markets and securing timely funding, often falling into the notorious ‘startup death valley’. At ISF, we step in with tailored mentorship, funding, and market access solutions, enabling these startups to navigate the complexities of growth and sustainability.
Our unique approach focuses on comprehensive hand-holding, particularly for early-stage startups, regardless of their industry.
In addition to technology-based startups, we are actively supporting ventures in diverse sectors, including education, government technology (GovTech), and retail. Our goal is to ensure that these startups not only survive but thrive, creating a lasting impact on the global startup ecosystem.
International Startup Festival 2024
To support the startup ecosystem we organize an International Startup Festival 2024, which will be held on the 26th, 27th, and 28th of this month. The festival will host 250+ CXOs 300+ VCs, 800+ Global Angels, more than 5000 + delegates and 2000+ Exhibitors at the Expo from over 15 countries.
It will cover focused discussions by experts in 9 curated roundtables for Global CXOs, GCCs,
FinTech, Rural Economic Roundtable, AgriTech, Health Tech, Junicorns, SET (Skills, Employability and Talent) and Women in Business. We will host 10 Investor Connect Sessions and 9 ISF Talks from renowned industry experts or successful entrepreneurs.
Digitalcio.in: Is the foundation an incubation center that supports startups across various aspects of the startup ecosystem?
J.A. Chowdary (JC): At ISF, we operate a virtual incubation model that goes beyond merely offering physical infrastructure. Our approach focuses on providing comprehensive support that equips startups with the tools and guidance they need to succeed.
While real estate may be a component for some, our emphasis is on delivering the strategic resources, mentorship, and market access essential for long-term growth and success in today’s dynamic startup ecosystem.
We started ISF two and a half years back. Through ISF Angels, we have successfully mobilized approximately ₹250 crore in funding, of which ₹50 crore has already been deployed to support early-stage startups. This marks a significant milestone in our mission to empower innovative ventures and foster entrepreneurial success.
This 3M concept is at the core of ISF’s mission, helping start-ups in India and globally finds success through comprehensive support, ensuring they thrive in the ever-growing Indian and international markets.
At ISF, we offer comprehensive support, from funding to market access, ensuring that startups have the resources and opportunities they need to thrive in a competitive landscape.
Digitalcio.in India is now the third-largest startup ecosystem globally, with over 99,000 recognized startups. However, we also see challenges like the recent issues with Byju’s. What key factors should entrepreneurs focus on to stay grounded in their entrepreneurial journey?
J.A. Chowdary (JC): In light of recent challenges faced by startups like Byju’s, entrepreneurs must remain grounded throughout their journey. Many startups get caught up in the pursuit of high valuations, aspiring to become billion-dollar companies. However, the key to long-term success lies in solving real, meaningful problems for society. When entrepreneurs focus on addressing genuine issues, investors will naturally be drawn to support their efforts.
At ISF Angels, we are committed to backing startups that are value-driven, not just valuation- driven. We do not invest in ventures that are solely focused on inflating their market worth. Instead, we prioritize startups that provide tangible solutions to real problems, whether in rural or urban areas. Our focus is on supporting businesses that create lasting societal impact, fostering sustainable growth and meaningful contributions rather than chasing inflated valuations.
In essence, we believe in nurturing value-based startups, ensuring they build a solid foundation for long-term success while benefiting society at large.
Digitalcio.in: Based on your extensive experience in the startup ecosystem, what do you think is missing in the current startup space? And what is needed to help startups scale in the Indian context?
J.A. Chowdary (JC): India presents vast opportunities for start-ups, with its population of 1.4 billion and a rapidly growing digital landscape. Consumerism, both in rural and urban areas, is at its peak, making this an ideal time for start-ups to tap into the Indian market. Historically, many Indian start-ups sought to expand abroad, targeting markets in the U.S., Europe, and Singapore. However, today, India has emerged as a significant market in its own right, attracting not only domestic startups but also international ventures looking to establish a foothold here.
Previously, Indian startups faced challenges in securing funding due to the lack of venture
capitalists, angel investors, and other financial resources. However, funding and infrastructure are in place, one critical element remains—hand-holding. Many startups need proper guidance and mentorship to navigate their entrepreneurial journey.
Digitalcio.in: How can digital technology play a vital role in scaling up startups and ensuring effective implementation?
J.A. Chowdary (JC): Technology is becoming indispensable across all sectors, from healthcare and education to government projects, defence, and aerospace. It serves as a horizontal enabler, essential for progress and innovation. That’s why, at our upcoming conference, we’ve carefully curated discussions across various segments, including agriculture, healthcare, Junicorns, and rural economics.
We believe that the future holds immense potential for startups emerging from rural India. Rural regions are full of untapped opportunities, driven by the many challenges they face. Each problem in rural India represents a unique opportunity for startups to step in, identify, and solve critical issues. Once a solution is found, these startups are well-positioned to secure funding and scale their operations.
Rural India is one of the largest and most promising markets for startups. While urban areas continue to offer opportunities, we urge entrepreneurs to look beyond city limits and explore the vast potential in rural sectors.
To this end, we are launching an initiative called Ankura Yatra, aimed at understanding and addressing the challenges in rural areas—whether in agriculture, finance, education, or infrastructure. Every challenge presents an opportunity for startups to innovate and create impactful solutions.
This is not just true for India but for rural regions in every country. The rural sector is rich with opportunities, waiting for startups to step in and drive positive change. That’s where ISF is going to focus on.
Digitalcio.in: What advice would you give to aspiring entrepreneurs who want to succeed in the startup ecosystem?
J.A. Chowdary (JC): My suggestion to all aspiring entrepreneurs, they have to be clear in their minds. Aspiring entrepreneurs must begin their journey with a clear sense of purpose and passion. The key to success is not merely chasing large valuations or dreaming of billion-dollar opportunities, but rather identifying real problems that society faces and committing to solving them. Entrepreneurs should ask themselves, ‘What is the issue that people are struggling with, and how can I address it?’
Whether through the use of drones, advanced technology, or other innovative solutions, the focus should always be on benefiting society.
It is important to move away from the mindset of building a startup solely to make money. The true drive should be to create meaningful change through innovation and problem-solving. Entrepreneurs who are solely motivated by financial gain are unlikely to succeed in the long run.
When startups focus on creating value for society, it becomes a win-win situation for everyone involved—entrepreneurs, investors, and the community at large.
Digitalcio.in: AI is a transformative tool for start-ups. How do you think AI can help shape the future of start-ups and in which areas can it play a critical role in their success?
J.A. Chowdary (JC): AI is undeniably a powerful and productive tool that has the potential to revolutionize various industries. AI’s true value lies in its ability to significantly reduce the time needed for product development. What once took 2 to 3 years can now be accomplished in just 3 to 6 months, thanks to AI-driven productivity tools. I strongly encourage entrepreneurs to leverage AI to quickly bring their solutions to market, benefiting both society and their businesses.
AI is a horizontal technology that can be applied across all sectors, from agriculture and healthcare to government and beyond. It has the potential to drive the development of countless innovative products, making it a vital tool for progress.
Entrepreneurs should view AI as an enabler of rapid innovation, capable of producing solutions that benefit everyone—businesses, consumers, and society as a whole.
Contrary to the misconception that AI is taking jobs, it is creating opportunities for new jobs and innovations. By harnessing the power of AI, we can develop products that address society’s needs while generating economic growth.
Digitalcio.in: AI-powered chatbots and virtual assistants are revolutionizing the service industry. How can startups leverage digital technology to benefit from this transformation?
J.A. Chowdary (JC): Chatbots once considered an innovation, can now be created swiftly using generative AI. However, for chatbots to truly succeed, they must address real, tangible problems. Merely building a chatbot for the sake of it will not yield meaningful results.
The key is to first identify a genuine problem or need, and then use chatbots, along with other AI- driven tools, to effectively solve that issue. Without a clear understanding of the problem, the creation of chatbots alone will not lead to success.
Entrepreneurs and developers must focus on real- world applications where these tools can provide substantial value, ensuring their solutions are purposeful and impactful.
