Empowering Entrepreneurs: Narayana Murthy’s Call for Societal Support in India
In a recent interview with Moneycontrol, Narayana Murthy, the visionary founder of Infosys, highlighted the challenges that entrepreneurs in India face and emphasized the need for a more supportive and encouraging societal environment. Despite the growing confidence and aspirations of young entrepreneurs, Murthy believes that Indian society still has a long way to go in fully accepting and backing those who embark on the challenging path of entrepreneurship.
Having co-founded Infosys in 1981 with six other engineers, Narayana Murthy is no stranger to the hurdles and triumphs of building a successful startup. Reflecting on the changing landscape of entrepreneurship, he noted, “We see a lot of entrepreneurs now coming out with ideas that we didn’t see 20 years ago or even 10 years ago. The confidence of youngsters has gone up. Their aspiration has gone up. Their desire to solve what was considered difficult problems has increased.”
While acknowledging the government’s efforts in fostering the startup ecosystem, Murthy emphasized that societal support is equally crucial. He stressed that as entrepreneurs strive to address contemporary challenges with their startups, society needs to be more actively engaged in recognizing and appreciating the difficulties inherent in the entrepreneurial journey.
“Our society has to become a little bit more encouraging in terms of providing youngsters support, cheering them up, as long as they’re trying to solve leading edge problems,” Murthy asserted. The entrepreneur-turned-philanthropist urged society to be supportive, even in the face of failure, highlighting that entrepreneurship comes with no guarantees of success.
At 77 years old, Murthy’s insights carry the weight of decades of experience in the tech industry. He believes that the changing mindset of young entrepreneurs is a positive sign for the future but insists that a cultural shift is needed for a more inclusive and accepting environment for startups. He sees the potential for India to become a global hub for innovation and entrepreneurship if the societal perspective aligns with the aspirations of these risk-takers.
While the government has played a significant role in creating a conducive environment for startups, including initiatives like ‘Startup India,’ Murthy’s call to action is directed towards society at large. The narrative surrounding entrepreneurship, he argues, should shift from a focus on job security to an acknowledgment of the bold individuals driving innovation and economic growth through their ventures.
As India continues to evolve as a technology and innovation hub, Narayana Murthy’s words serve as a timely reminder of the importance of fostering a supportive ecosystem that not only recognizes the challenges entrepreneurs face but actively encourages and celebrates their contributions to society. It is a rallying cry for a collective effort to build a culture that empowers risk-takers and pioneers, ultimately propelling India to new heights in the global entrepreneurial landscape.