After Prime Minister Narendra Modi’s war cry for ‘Vocal for Local,’ many Indian startups and domestic businesses are seizing the opportunity to accelerate the manufacture of ‘Made in India’ products.
Similarly, many Indian investors have been driving the push for more homegrown innovations and products, with the bulk of these investments focussed on startups delivering software solutions.
However, in a bold move that is expected to give a much-needed boost to electronics manufacturing startups, Mumbai-based early-stage investment fund Whiteboard Capital’s Managing Partner Sandeep Tandon and family are leading the drive to invest in startups focussed on hardware production.
In an exclusive conversation with YourStory’s CEO and Founder Shradha Sharma, Whiteboard Capital’s Managing Partner Sandeep Tandon revealed plans to set aside up to Rs 100 crore more to invest in hardware startups manufacturing Made in India products.
For Sandeep, who is himself a tech entrepreneur in addition to being an angel investor, this move was inspired by his father’s legacy of being an early proponent of electronics manufacturing in India, having venture into floppy disk production in the early ‘80s in Mumbai.
“After gold, electronics is the biggest import in India… So, I believe, this is an opportunity for Indian startups to build for India,” says Sandeep, who has investments in at least 30 Indian startups.
He believes Indian entrepreneurs should think like their Southeast Asian counterparts in leading electronics manufacturing locally in order to create a slew of job opportunities.