Andhra Pradesh Innovation Society associate director K. Pranay Siddhartha said that the lack of information accessibility, skilled manpower and capital are the three hurdles startups or micro, small and medium enterprises (MSME) face and an ecosystem to overcome them has to be provided.
Speaking at the Investors’ meet for MSMEs organised by the State unit of Confederation of Indian Industry (CII) here on Thursday, he said startups which were not able to scale up lose manpower and those that were doing good were unable to find sufficient manpower.
He stressed the need for startups to have presentation skills to sell the idea. “AP Innovation Society sensitises startups and teaches them the trade of approaching the investors, presenting their stories,” he said.
Small Industries Development Bank of India (SIDBI) general manager Sanjay Jain said modernisation and expansion of small enterprises were essential for the growth of the economy.
HDFC Bank Limited senior vice-president Mukundan Alavoo said sound cash flow played a vital role in determining the financial health of MSMEs and GST was going to provide impetus to the growth of organisations.
CII AP, vice chairman D. Ramakrishna, CII Vijayawada Zone, chairman P. Ravi Kiran, Glocal Tech Solutions, CEO, Tarun Kakani, CII MSME panel convenor Y.V. Krishna Mohan and others participated in the meeting.