Maharashtra needs more research centres to boost startups: Ratan Tata

The government should provide young entrepreneurs with more research centres to fuel innovation as that's a must to develop a conducive environment for startups in Maharashtra, noted industrialist Ratan Tata has said. "Apart from IITs and other institutes we have here, which are a source of innovation for young people, we need research centres to encourage innovation," Tata said at the 'Make In India Week' in Mumbai.

"Maharashtra, in every other way, has what it takes. What it needs perhaps (are) industrial parks with all the benefits like the Silicon Valley where young people (move) to immediately establish their dream," he added. Tata underlined the need for white-collared environment with skills, space and ease of entering the business, connectivity and availability of innovation, which are all essential for the startup sector.

According to him, a financial sector that doesn't look at just bankable propositions, but good ideas, would help attract more startups to set up in the state. While Maharashtra has grown at a fast pace over the years, where it has failed is infrastructure, which has not kept pace with the level of growth, he claimed.

The Tata Sons Chairman Emeritus, however, said, "This government and chief minister have displayed a vision of resolving that, looking at it holistically and providing the balance which is necessary for growth." He emphasised on agriculture, terming it "as important as the business sector, infrastructure". "We need connectivity, both electronic as well as physical, and the government policy that facilitates growth," he said.

(Disclaimer: Ratan Tata is an investor in YourStory)