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Ericsson keen to mentor start-ups in India

Press Trust of India  |  Kolkata 

Global ICT firm today said it is willing to extend helping hand to mentor start-ups in

"The start-up economy in is booming. In the next couple of years, it will be huge," Global Services managing director Amitabh Ray told PTI on the sidelines of Infocom ICT seminar here.

He said is studying how the start-up ecosystem is being built in India.

"We want to see how the start-ups are doing and what kind of disruptions can it bring. If we find that any start-up needs mentoring, we can think of it," Ray said.

When pointed out 99 per cent of the start-ups were failing, he added VCs hire people who were expert in killing companies which do not have a future in order to stop the drainage of resources.

To a query, he said Ericsson does not have plan of funding start-ups as of now.

With around 22,300 people working in India, Ericsson caters to customers globally. It has R&D centres in and Chennai.

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

First Published: Thu, December 01 2016. 16:28 IST