Title: Giving fancy packaging to ice-creams & cookies is not start-up: Piyush Goyal
In a recent statement at Startup Mahakumbh 2025, Union Minister of Commerce and Industry, Piyush Goyal, emphasized the importance of true entrepreneurship and business models, rather than just fancy packaging, in the start-up ecosystem. His remarks came as a wake-up call for many entrepreneurs and innovators who often get carried away with the idea of creating a start-up just because it sounds trendy or profitable.
Goyal’s comments were directed at the numerous start-ups that are merely repackaging existing products or services with a fancy twist, rather than creating something entirely new and innovative. He pointed out that giving fancy packaging to ice-creams and cookies, for instance, doesn’t automatically make it a start-up. Instead, it’s a mere business model that may not necessarily have a significant impact on the market.
The minister’s words of wisdom came at a time when India’s start-up ecosystem is facing a significant challenge. According to recent data, only 1,000 start-ups in India’s deep-tech space is a disturbing situation. This is a meager number compared to the thousands of start-ups in other countries that are focused on cutting-edge technologies like artificial intelligence (AI) and 3D printing.
Goyal’s observations are not without merit. In recent years, we’ve seen a proliferation of start-ups that are more concerned with flashy marketing and branding than actual innovation. Many of these start-ups are merely trying to cash in on popular trends or capitalize on existing demand without putting in the necessary effort to create something new and valuable.
The consequences of this trend are far-reaching. For one, it dilutes the value of the start-up ecosystem as a whole. When people start to view start-ups as mere businesses that are more interested in making a quick buck than creating something meaningful, it undermines the very spirit of entrepreneurship.
Moreover, it also means that the attention and resources that are meant for genuine innovators and entrepreneurs are wasted on frivolous pursuits. This can have a ripple effect, stifling the growth and development of the start-up ecosystem as a whole.
Goyal’s comments are a clarion call to entrepreneurs and innovators to focus on creating real value rather than just repackaging existing products or services. It’s time for entrepreneurs to take a step back and re-evaluate their business models. Are they truly creating something new and innovative, or are they just trying to cash in on a trend?
The minister’s remarks are also a reminder that start-ups are not just about creating a product or service, but about creating a sustainable business model that can scale and have a lasting impact. Start-ups need to focus on building a strong foundation, developing a unique value proposition, and creating a loyal customer base.
In conclusion, Piyush Goyal’s comments at Startup Mahakumbh 2025 serve as a timely reminder to entrepreneurs and innovators to focus on creating real value rather than just fancy packaging. It’s time for start-ups to step up and create something meaningful, rather than just trying to cash in on a trend.
News Source:
https://x.com/moneycontrolcom/status/1907795297826378009
