LAS VEGAS: Even as start-ups have mushroomed in India over the last few months, the country is yet to reach the scale of intellectual property (IP) generation being seen in nations like China and Israel, technology giant Cisco CEO John Chambers said.
“The Indian market has to do a lot more (with) startups, create that entrepreneurial spirit at a faster scale. I am committed to India, but it has not taken off in terms of IP generated anywhere like China or Israel,” Chambers told PTI in an interview.
He said Indian universities can play a bigger role in fostering entrepreneurship and the spirit for innovation.
Over the last two years, a large number of technology- driven start-ups have come into existence. These have received funding from a range of investors including angel investors, individuals as well as large venture capitalists.
Technology firms have not only acquired a lot of such start-ups but have also set up corpus to fund innovation.
Earlier this year, Cisco also created a corpus of USD 100 million to invest in early-stage startups in the Internet of Everything (IoE) space globally.
In the past, Cisco invested in Indian ventures such as Apalya, Qyuki, Indiagames and Comviva.
Chambers said while there was a lot of activity going on for start-ups in India, this has to be done on a larger scale.-PTI
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