Strong startup ecosystem critically important for business: Nisa Godrej

A strong startup ecosystem is critically important as it gives fresh ideas and new ways for doing business, said Godrej Consumer Products Ltd Chairperson Nisa Godrej.Speaking at the 25th Wharton India Economic Forum, Godrej Consumer Products Ltd GCPL Chairperson Nisa Godrej said companies can get ideas from startups and make changes as the business cycles are getting much faster.Strong startup ecosystem is critically important for the business.

A strong startup ecosystem is critically important as it gives fresh ideas and new ways for doing business, said Godrej Consumer Products Ltd Chairperson Nisa Godrej.

Speaking at the 25th Wharton India Economic Forum, Godrej Consumer Products Ltd (GCPL) Chairperson Nisa Godrej said companies can get ideas from startups and make changes as the business cycles are getting much faster.

''Strong startup ecosystem is critically important for the business. You need people to come and disrupt industries,'' Godrej said.

Though in the older and larger organisation, it is difficult to disrupt (but) it's not impossible ''as during the pandemic, we have seen large changes are possible'', she added. ''You can look at startups as a way to learn. You can also see and take ideas... (though) you may take longer time on some of these ideas,'' she said.

Citing the Godrej group's example, Nisa said the group firm Godrej Property has two arms Godrej Fund management which raised Rs 25 crore funds in the middle of the pandemic and Godrej Housing Finance.

These are two new separate companies.

''In consumer products, we have lots of digital-first brand and a lot of online stuff. Our model is simple... We have hired a new team to do that and have not created a separate company,'' she added.

Women, she said, could be a large professional workforce of this country and there is also need to spread education among them.

''We have now five women on board, which is 40 per cent of the total strength of the board. This is the highest for any listed company in India,'' she said. However, Godrej said that when she looks within the company, engagement with women is still lower and attrition is higher though pay and promotion is equal.

''There is lot of learning to do,'' she said adding that there is a need for a data-driven, goal-oriented approach.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)