'Love Bengaluru, But..' Startup CEO's Tweet On Struggling To Start Business Leaves Internet Divided
Last year, Karnataka topped the list of Indian states with the most ease of doing business due to its industry-friendly policies and progressive reforms. But if you ask a Bengaluru-based CEO, his experience wouldn't justify the tag that the state has.
Last year, Karnataka topped the list of Indian states with the most ease of doing business due to its industry-friendly policies and progressive reforms. But if you ask a Bengaluru-based CEO, his experience wouldn't justify the tag that the state has.
A founder and CEO of a Bengaluru-based company has shared his frustration, mentioning that he may have to move back to the US since he spent two months trying to register a company in the city but has failed to do so yet.
"Love India, But.." Bengaluru CEO's Frustrated Tweet
indiatimes
Brij Singh, who is
founder and CEO of AI based tech firm Snow Mountain AI has said that he loves Bengaluru but has been facing difficulties in getting his company registered in the city.
"Love Bangalore/India, but I have learnt more in the last 3 days in Bay Area (San Francisco) than I could in a month back home," Singh tweeted. "Spent two months just trying to register a company in India and it¡¯s still not done."
Love Bangalore / India, but I have learnt more in last 3 days in Bay Area than I could in a month back home.
¡ª Brij Singh (@brijbhasin) July 27, 2023
Spent 2 months just to try to register a co in India & it¡¯s still not done.
Problem - solution feedback loop from potential customers, Investors & even fellow¡
Explaining the problem he has been facing, Singh, who has been working in the technology and finance sectors in India and the US for around two decades, said, "The solution feedback loop from potential customers, investors, and even fellow founders is at a different level. The time may be coming for me to move back to the US. And I say this with a heavy heart."
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"Not Given Up Yet"
Despite the frustration, the entrepreneur, however, added that he has not given up on Bengaluru yet.
Umm not giving up on anything. Just stating the facts.
¡ª Brij Singh (@brijbhasin) July 27, 2023
There are lot of advantages in building from India for the world as well.
One must learn to leverage whatever opportunities they can to execute and compete in a global market. That is the reality.
"Not giving up on anything. Just stating the facts," he wrote responding to a Twitter follower. "There are a lot of advantages in building from India for the world as well. One must learn to leverage whatever opportunities they can to execute and compete in a global market. That is the reality."
@PCMohanMP/twitter
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Mixed Reactions From Twitter Users
Many users replied to the Bengaluru-based CEO's tweet by sharing their own experiences, mentioning that they got the process done much more quickly.
15 days maximum, if new DIN needs to be created. This includes PAN card (one can open bank account with e-receipt in 3 days) Yes for CAT AIF that's a different story as SEBI kicks in there. But for any thing else 15 days. A good CA or CS can do this in no time.
¡ª Rana | #ComingSoon (@bladeit) July 28, 2023
It¡¯s not just about registering a company. There are 10 other things that go with it.
¡ª Akshay Khandelwal (@akshay_khan) July 27, 2023
Why would it take 2 months? I formed my LLP in a week. You have an issue of bad CA. Quite frankly you can register a company yourself and don't even need a CA. Takes a couple of days max.
¡ª Shripad Krishna (@shripad_krishna) July 27, 2023
On the other hand, a Twitter user shares his ordeal too, saying, "Can¡¯t get a name approved for weeks; they keep rejecting for last century reasons."
With the surge in startups most names will be taken. Try something unique and you will get it.
¡ª Pramod Srinivasa (@Pramod_Srini) July 28, 2023
Another Twitter user said it took him four months to incorporate his business in India.
Agreed whole heartedly here. I was able to incorporate a startup in Delaware in 4 days flat with EIN and everything while the same process took 4 months in India.
¡ª Nikhil (Nick) Pathak (@Nikhil_Pathak) July 27, 2023
On a lighter note, a person replied with a meme and a GIF referring to the iconic scene from the Bollywood movie DDLJ. The Bengaluru-based CEO also replied with a similar meme.
¡ª Brij Singh (@brijbhasin) July 27, 2023
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