Start-ups should develop need-based innovation to get funding: GVK's Keshav Reddy

Everyone's curious to know about the ideas that excite young heirs. Or the vision they hold for the future. It may as well be interpreted as a blueprint for what lies ahead for their business empires. In a similar context, it's interesting to know what they don't believe in too.

While speaking at a panel discussing the importance of a globally connected network, Keshav Reddy, son of GVK's Sanjay Reddy, shared a few of his thoughts with the students in attendance.

Reddy junior spoke in favour of need-based innovation and how that is easy to get funded. "Today people raise capital because they can or they want to be the ones raising capital. But, if you have a solution to a problem, then you will find someone willing to fund it," he said.

And then there are things he does not believe in:

1. "I don't believe in apps. I don't believe in apps being a fundamental thing. I don't want an app to tag all my clothes so that I can find them digitally. It's stupid." He did mention Snapchat approvingly though. Though it doesn't solve a dire need, it addresses the human need for communicating.


Evan Spiegal, founder of Snapchat (Image: BCCL)

2. "I don't like being connected this much frankly. I don't believe in IoT (internet of things)." Here's one young guy who's not worried to take a contrarian stand.

3. "I don't believe in ideas that don't have a commercial sense. You are not a businessman then." Keshav, who's been in Mumbai for about a year-and-a-half, working with the company's airport project in the city, clearly has an eye on the profit and loss statement.