Startup founders must brace for economic slowdown: Zoho's Sridhar Vembu
Zee News
"The economic conditions have darkened and we face another burst bubble [like 2008]," Zoho's Sridhar Vembu said.
New Delhi: Startup founders have to realise that the funding winter is here and it is time to brace for the worst with controlling cash burn and investing only in meaningful activities, says Sridhar Vembu, CEO and co-founder of tech company Zoho Corporation. As startups face the wrath of global macro-economic factors like the Russia-Ukraine war, high inflation, rising interest rates and Chinese lockdowns with laying off the workforce and shutting divisions, the "course correction is coming to India and the founders must prepare themselves for a long-haul innings to survive the slowdown," Vembu told IANS.
"The economic conditions have darkened and we face another burst bubble [like 2008]," he added.
The global macro-economic conditions have hit the stock markets worldwide and startups are also not immune to those factors.
"The startup founders have to cut down on unnecessary expenses and focus on conserving cash for a turbulent phase," said Vembu, who was honoured with Padma Shri last year.
"Startups must also look at empowering rural populations and skill the youth there so that they can be part of the mainstream and create world-class products from here," he added.
