Infosys co-founder Kris Gopalakrishnan

Gandhinagar : Unlike in developed countries, start ups in India do not grow due to lack of enthusiasm from angel investors, Infosys co-founder Kris Gopalakrishnan said here on Saturday.

“In countries like the US, there are almost five angel investors per start up. In India, however, there is hardly one angel investor for five start ups. I am hopeful this will change.”

Also, the current turmoil in the banking system will not affect the start ups, Gopalakrishnan told the media on the sidelines of two-day Empresario StartUp Summit 2018, an annual event by the Entrepreneurship Development Institute of India.

“As far as community investing is concerned, India is good. But community investing is not in the form of equity investments, but more like debt. We need more equity investments from communities for the start ups in the country to grow.”

Gopalakrishnan said he believes India FinTech start ups are one of the best in the world, adding that the country needed a robust ecosystem for the start ups to be successful.

—IANS