The minister emphasized that neglecting these principles, particularly during periods of easy access to capital, creates an unsustainable model. “Eventually, the cycle turns, and if you haven’t learned from others’ mistakes, you’ll make your own,” he warned, positioning Byju’s as a cautionary tale.

While highlighting the challenges faced by Byju’s, Chandrasekhar expressed optimism about the broader Indian tech scene. He identified the gaming sector as a “crucial segment” deserving of encouragement and support. He acknowledged the conflation of online gaming with “real money, betting, and money laundering,” but outlined the government’s efforts to create a safe and legal framework for permissible gaming activities.

He assured entrepreneurs to “keep faith,” emphasizing that challenges faced by individual companies, including Byju’s, shouldn’t be misconstrued as reflections on the entire entrepreneurial ecosystem. “There’s a thing about discipline that some intuitively understand, while others need time to learn,” he said, the report further added.

Chandrasekhar offered valuable insights into the government’s perspective on growth strategies within the tech sector. While acknowledging the potential of rapid expansion, his emphasis on sound corporate governance and learning from past mistakes serves as a cautionary message for ambitious startups. Furthermore, his support for a regulated gaming sector highlights the government’s commitment to fostering responsible innovation within this promising industry.

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Published: 20 Feb 2024, 01:58 PM IST