Ratan Tata died on Wednesday, October 9. (Image: PTI File)
Tata emphasised that while the potential of a business model is important, the true essence lies in the entrepreneur’s vision and commitment.
Ratan Tata’s vision for startups underscored the significance of passion and innovation in entrepreneurship. He noted that the most promising startups are often led by individuals who exhibit a unique spark or enthusiasm for their ideas. This viewpoint illustrates that successful ventures frequently arise from the founders’ vision and dedication, which can lead to transformative changes in their industries.
With over 20 startups in his investment portfolio, Ratan Tata had not only championed innovation but also provided invaluable mentorship to small business founders.
In a 2021 interview with CNBC-TV18’s Shereen Bhan, Ratan Tata revealed that his initial interest in entrepreneurship was fueled by the same excitement he experienced during his time at Tata, where he encouraged the company to explore early computer and software startups in the Bay Area.
Entrepreneur’s Vision and Commitment
Tata emphasised that while the potential of a business model is important, the true essence lies in the entrepreneur’s vision and commitment. Tata expressed his preference for founders who are genuinely passionate about creating something sustainable and impactful, rather than those merely seeking a quick exit.
Ratan Tata As An Investor
Reflecting on his experiences as an investor, Tata mentioned that he was always inspired by the excitement of someone claiming they could achieve what seemed impossible.
“I was usually the one in Tata’s that was urging that we do this. So while in Tata, I was involved in the Bay Area and in some of the early computer startups, some of the software startups. And those were exciting companies for me. I was in Tata, so I was not doing anything myself, I was doing it in the name of Tata,” Ratan Tata had told CNBC-TV18.
He had added that the relationship you established with the founder, the truth and faith that you put on the table or he puts on the table, would be the difference between a flashy entrepreneur who is either trying to copy another company that’s been successful or that has a dream that doesn’t come true. That’s the difference.
Role of Government
Emphasising the role of the government, Tata had said that it has a crucial role in advancing technology, a task that the private sector often finds challenging due to the significant financial investment and high risk involved. Many of the most intriguing startups and entrepreneurial activities have emerged from individuals who utilised government funding to launch their initiatives. Such investments would not have been possible without government support.
