Kunal Bahl, co-founder and CEO of Snapdeal, has tried unsuccessfully to get into the Indian Institute of Technology and was denied an H-1B visa while working in the US. shares how it helped him on his journey to becoming a leading technology entrepreneur in India. India.
“I couldn’t get into an IIT. My family was upset. But getting into a university in the US helped me flourish,” Bahl said at the NDTV World Summit 2024 in New Delhi on Tuesday. “It was,” he said. He studied at the University of Pennsylvania.
“I was working at Microsoft (in the US) and applied for an H1-B visa but it was rejected. I came back and started my entrepreneurial journey,” he said, adding that the need for persistence to overcome difficulties emphasized.
Speaking on India’s burgeoning startup ecosystem, Bahl said he disagrees with the “unicorn” culture that looks at domestic companies in dollars rather than local factors.
“We’ve been celebrating unicorns for years. The word was coined in the American context to reflect the mythical creature. Why are we so obsessed with a currency that’s not ours?” Will it? India doesn’t need 200-300 unicorns. But 10,000 indicorns,” he said.
The prominent angel investor said the concept of a startup didn’t exist about 10 years ago.
“In 2007, there was nothing known as a start-up. Either you do business or you do a job. India now has drool-worthy opportunities, but there are also dizzying opportunities. “There are challenges. Before 2017, many ideas were proven business models. Since then, domestic issues have been identified and addressed by the founders,” he said.
Kunal Bahl also praised Prime Minister Narendra Modi’s “indelible contribution” to the startup economy.