India Knowledge@Wharton has a great article on the entrepreneurship scenario in India – A brave new world beckons Indian innovators and entrepreneurs.
Here’s my favorite part!
Question: Is there a fundamental difference between the entrepreneur in India and an entrepreneur in China?
Haque: Yes. I would back an entrepreneur in India before I would back an entrepreneur in China. I don’t say that because I’m here in India right now in front of you. There are lots of businesses that get funded in China as well, there’s no doubt about that. The Chinese market itself is huge internally, and a lot of these businesses are directed at the local market. But it’s tough to do business in China. It’s a lot easier to business here in India than it is to do business in China. And I’m talking as someone coming from outside the country and funding businesses here. It’s very difficult to do that in China. I’m talking about the business climate.
Talking about the entrepreneurs themselves, is there a fundamental difference? I don’t think so. They are just as entrepreneurial as in India and vice-versa. Local customs are different, but the drive, the initiative, the reliance on internal and being capital efficient and so on, they’re very good.
[Blogged from the Common Room]