[TechSparks 2020] India can become a real superpower by creating more entrepreneurs, says Nithin Kamath of Zerodha
Fintech unicorn Zerodha is valued at over a billion dollars today. The online stock brokerage firm is known to have been bootstrapped its way to billions. At TechSparks 2020, in a virtual fireside chat with Shradha Sharma, Founder and CEO, YourStory, Nithin Kamath, Co-founder and CEO of Zerodha, spoke about why it is increasingly important for successful people to give back to the economy.
“The business started seeing money from 2016 when we started generating more profits. Now I feel money gives me the freedom to do what I want to do, and this is not in terms of materialistic things, but to help startups. I get super excited about startups. Is there a way for us to help new businesses? The real way for India to become a superpower is with more entrepreneurs who create more employment,” said Nithin.
The online brokerage platform was started in 2010 when Nithin Kamath, who got introduced to the stock markets when he was 17 years old, felt the need for such a platform.
Nithin and his brother and Nikhil Kamath, Co-founder and CEO, Zerodha, started operations by focusing on day traders. Today, this has evolved to include long-term investors and millennials.
Nithin invests in startups through his investment firm Rainmatter, which was established in 2016. Rainmatter was built as an API platform where any fintech startup can come and build a user experience of its choice. The idea is to help fintech startups truly disrupt user experience in the financial landscape.
“Some portion of the money we make has to go into the economy. Buying gold and real-estate isn't going to help. Enable as many people as possible. If you enable people you give back to the society,” said Nithin.
This has now expanded to include startups in the climate change space as well. He explained that it is a subject he feels strongly about. He said it is also a sector that is underinvested.
“We are passionate about climate change, we have allocated a large pool for startups working in climate change. The capital there is tougher,” said Nithin. Apart from that, Rainmatter is also closely looking at agriculture.
Nithin explained that with the reverse migration happening, it is becoming important to look and create jobs that are present across sectors like agriculture, which can employ people and create wealth in the economy.
TechSparks - YourStory's annual flagship event - has been India's largest and most important technology, innovation, and entrepreneurship summit for over a decade, bringing together entrepreneurs, policymakers, technologists, investors, mentors, and business leaders for stories, conversations, collaborations, and connections that matter. As TechSparks 2020 goes all virtual and global in its 11th edition, we want to thank you for the tremendous support we've received from all of you throughout our journey and give a huge shoutout to our sponsors of TechSparks 2020.