Can there be a Startup Constitution?

In 2015, the government of India declared 26 November as the Constitution Day. Since then it is being celebrated in schools, colleges, and government departments across the country. Before 2015, the day was known as the National Law Day. The historical reason being 26th Nov 1949 was the day when the constituent assembly had signed and adopted the Constitution. It came into effect two months later on 26 Jan 1950 which we all celebrate as the Republic Day.

Does it even matter for the startup & investor community to spend time thinking about the lofty idealism of a document which everyone seems to pay lip-service to but rarely put in practice?

Short answer to that question would be – tactically no,it is irrelevant but strategically – an empathetic yes! It matters quite a lot.

Any business, big or small, has to operate within the realms of the society it is located in. Hence, tactical wisdom is to refrain from publically engaging on social or political issues, follow non-confrontational, rather subservient approach, while dealing with the state at any level – be it local administration, state or the union government, maintain silence on the bad actors or inefficiencies within one’s own industry.

Beyond tactical indifference, it can be argued that the constitution is a mega-strategy document, not just for activists or academicians, but for everyone, including startups and the investor community. Let us flip the question to stimulate our thoughts on Constitution’s long term significance-

For investors – Thinking for next 30 years, under what market & societal conditions wealth creation can be maximized?
For startup founders – thinking for next 30 years, under what societal conditions innovation can be maximized?

When we attempt to start thinking about long term societal change, the constitution becomes a guiding document as since inception, it was conceptualized as a transformative constitution, radically reimagining the society it happened to originate from. Reduced to its essence, the constitution is nothing but a profound set of ethics we collectively as individuals attempt to sustain and nurture, in the hope of a better future.

If we imagine a Venn diagram from a bird’s eye view, the niche segment, sector, technology, industry we are working in, can all be subsumed under the circle of ‘markets’. Intersecting with it is a circle of ‘state’, which represents the legitimate structure of power and authority. But both the circles are encircled within the larger societal circle. These abstract circles can now be imagined to be filled with a network of individuals who are constantly engaging within their circles and beyond.

Majorly, the Indian higher education system disincentivizes critical thinking on meta questions about society, state, and markets. It is geared towards hyper competition for the academically bright and diligent students, optimizing for exams. Undoubtedly, it has created an extremely competent class of technology & management professionals, who now command respect across businesses, the world over. But can they articulate a strategic societal imagination is a question worth pondering on.

Hoping that at a personal level, our engagement with the Constitution and the nuances inherent in creating society which maximizes wealth & innovation, I wish you all a happy Constitution day.

Ecosystem Ventures This Week

Key Highlights – Clients

We are happy to onboard a Dubai-based healthcare service provider.

It is a platform for data analytics, training and monitoring in preventive healthcare services. They provide services such as Visa Medical Services, Diagnostics and Travel Vaccinations with the help of an internally integrated system equipped with advanced technology. It is backed by a team of highly qualified healthcare professionals who are setting the latest medical standards across the Middle East, Europe, and Southeast Asia.

We look forward to working with them and wish them all the best for a bright future.

Startup Funding Summary

Bira91, Delhi-based craft beer brand, has raised $70 Mn in Series D funding from Japan’s Kirin Holdings – Read More

Healthkart, Gurugram-based healthtech startup, has raised $65 Mn in a funding from Temasek Holdings and A91 Partners – Read More

Celebal Technologies, Jaipur-based software service provider, has raised $32 Mn in a funding from Norwest Venture Partners – Read More

IndiaGold, Gurugram-based fintech startup, has raised $10 Mn in Series A funding from Alpha Wave, 3one4 Capital, PayU, Leo Capital, Better Tomorrow Ventures, Rainmatter Capital and other HNIs – Read More

ProcMart, Noida-based logistics company, has raised $10 Mn in Series A funding Sixth Sense Venturesfrom – Read More

M&A Snippets

Gurugram-based renewable energy semiconductor manufacturer BluPine Energy has acquired Kolkata-based solar power company Atha Group for $257 Mn – Read More

Bengaluru-based venture capital and private equity firm Lightrock India has acquired Gurgaon-based psychiatric inpatient unit Sukoon Healthcare for $15 Mn – Read More

Bengaluru-based media technology company Amagi has acquired California-based data platform for content distributors Streamwise for an undisclosed amount – Read More