Nithin Kamath joins National Startup Advisory Council to 'get Indians to back Indian startups'

Nithin Kamath is among the 31 non-official members nominated to the council.

Zerodha co-founder and CEO Nithin Kamath has joined the National Startup Advisory Council to advise the central government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country. The council also plays an important part in devising programs to cater to the evolving requirements of the startup ecosystem.

Admitting that he is excited to be a part of the council, Kamath said that India needs to unlock its domestic capital for startups. He added that he would work towards reducing the dependence on foreign capital and encourage Indians to back startups at home.

"More Indians today than ever before are aspiring to be entrepreneurs thanks to government initiatives and messaging, the media coverage of the startup ecosystem, founder success stories, and more," the Zerodha boss wrote on X. "The one thing we need to work on as a nation is to unlock domestic capital for startups/MSMEs. Reduce the dependence on foreign capital and get Indians to back Indian startups."

More Indians today than ever before are aspiring to be entrepreneurs thanks to Government initiatives & messaging, the media coverage of the startup ecosystem, founder success stories, & more.

The one thing we need to work on as a nation is to unlock domestic capital for… — Nithin Kamath (@Nithin0dha) December 20, 2023

The billionaire entrepreneur also said that there is a renewed interest among Indian investors to support newer products and "we need to make use of this opportunity".

"Apart from reducing external capital dependency, this could also mean that wealth created from startups stays in India," he said, adding that he would work towards this goal as a member of the National Startup Advisory Council.

Nithin Kamath is among the 31 non-official members nominated to the council. Others include stakeholders such as founders of successful startups, veterans who have grown and scaled companies in India, and people capable of representing the interests of startup investors, incubators, and accelerators.

Read more: Zerodha CEO Nithin Kamath reveals how he met his wife: 'It's been 20+ years of ups and downs'