TS move to help failed startup founders

TS move to help failed startup founders
Highlights

Telangana government is looking to award entrepreneur-in-residence (EIR) certificate to those startup founders who are unsuccessful in their entrepreneurship journey and want to explore alternative opportunities. 

Hyderabad: Telangana government is looking to award entrepreneur-in-residence (EIR) certificate to those startup founders who are unsuccessful in their entrepreneurship journey and want to explore alternative opportunities.

The government expects EIR certificate will fill the gap in their career journey and help strengthen their resume when they go for a job. Participating in a panel discussion in the city, Telangana IT Secretary Jayesh Ranjan said a provision to this effect would be incorporated in the upcoming IT policy.

“We know startup journey is very tough. All those get into ecosystem with idea may not successfully turn into a profitable company. There may be pitfalls. If any stage startup founders in T Hub want to stop their journey and want to go back to job or alternative employments, government wants to help them by issuing EIR certificate,” he said.

All the certificate means is that he or she tried their best to make their ideas successful, but failed, he said, adding startups in T-Hub would only eligible for the certificate. “Many established corporate are looking for those EIRs whose experience will help the company immensely.

These EIRs take entrepreneurial mindset to the corporate world, which not many executives in large organisation know,” he explained. EIR is already a newest job title in the tech community. They are new ambassadors for investors and large organizations now. The certificate is a win-win for both startups and large business houses, he added.

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