Giving fancy packaging to ice-creams & cookies is not start-up: Piyush Goyal
Startups have been a buzzword in the business world for quite some time now. With the rise of entrepreneurship and innovation, the concept of startups has become synonymous with creativity, risk-taking, and disruption. However, Union Minister of Commerce and Industry Piyush Goyal recently threw some light on the misconceptions surrounding startups. At Startup Mahakumbh 2025, he emphasized that giving fancy packaging to ice-creams and cookies doesn’t make it a start-up. Instead, it is entrepreneurship and a business model.
Goyal’s statement was a wake-up call for many entrepreneurs and investors who often get caught up in the hype surrounding startups. He emphasized that true innovation and entrepreneurship are about solving real-world problems, creating value, and disrupting existing industries. Simply slapping a fancy label or packaging on a traditional product doesn’t qualify as a start-up.
In fact, Goyal went on to highlight the disturbing situation in India’s deep-tech space, where only 1,000 startups are focused on AI, 3D printing, and other emerging technologies. Compared to other nations, Indian startups seem to be lagging behind in terms of innovation and cutting-edge technology. “Start-ups in other nations are focused on AI, 3D printing, and other emerging technologies. We need to catch up,” he said.
Goyal’s remarks were a stark reminder of the need for Indian startups to rethink their approach. Instead of focusing on cosmetic changes or superficial innovations, they need to focus on solving real-world problems and creating tangible value. This requires a deep understanding of the market, the ability to adapt to changing circumstances, and a willingness to take calculated risks.
So, what does it take to be a successful start-up? According to Goyal, it’s about having a clear business model, a solid understanding of the market, and a team that is passionate about solving real-world problems. “Start-ups are not about fancy packaging or labels. It’s about creating value, disrupting existing industries, and solving real-world problems,” he said.
Goyal’s statement was met with a mix of reactions from the startup community. While some entrepreneurs and investors took his words to heart, others felt that he was being too harsh and critical. However, it’s hard to disagree with Goyal’s assessment. After all, the startup ecosystem is all about innovation, disruption, and creating value. Simply slapping a fancy label on a traditional product doesn’t cut it.
In fact, Goyal’s remarks were a nod to the broader issue of entrepreneurship in India. While the country has made significant progress in terms of startup funding and incubation, there is still a long way to go in terms of creating a sustainable and scalable startup ecosystem.
To create a thriving startup ecosystem, India needs to focus on creating an environment that encourages innovation, risk-taking, and experimentation. This requires a combination of factors, including access to funding, mentorship, and infrastructure. It also requires a willingness to take calculated risks and adapt to changing circumstances.
In conclusion, Piyush Goyal’s statement was a much-needed wake-up call for the startup community. Giving fancy packaging to ice-creams and cookies may be a good marketing strategy, but it’s not a start-up. True innovation and entrepreneurship are about solving real-world problems, creating value, and disrupting existing industries. As India looks to create a thriving startup ecosystem, it’s essential to focus on creating an environment that encourages innovation, risk-taking, and experimentation.
Source:
https://x.com/moneycontrolcom/status/1907795297826378009
