'Solve A Problem, Money Will Find You': Softbank's Nikesh Arora At Start-Up Meet

New Delhi: The Chief Operating Officer of Softbank Nikesh Arora said that one must not focus on funding, rather focus on solving a problem and money will follow. He was speaking at the government's Start-Up India meet.

Here are the highlights of his address:

• Our entry into India coincided with a change in government, more spirit for entrepreneurship and a huge uptick in smartphones.
• I have no memory of anything bad happening in my career. I think that's how you can go ahead.
• Most important for entrepreneurs to think about the end user. What problem am I solving? How am I making their lives better?
• The moment you start prioritising funding, you lose focus. Solve a problem. Money will find you.
• We have to be very ruthless about our time. How we use it.
• One of the areas where I haven't seen a solution at scale is education. Today with so much technology application, we can reshape education.
• India's startup scene still very nascent, we will see a few accidents in 2016. Start-ups will have to deliver.
• In India, there is lot of funding in services but not enough in deep technology or products.
• In 30 years the computing, communication power will go up a million times. So we are very interested in artificial intelligence.
• On the question of companies offering deep discounts to compete and not making profits - In 2015 we saw tremendous funding going to companies, but it also created a shakeup, and consolidation. Our message to investee companies is focus on experience and quality, and let the consumer decide. Don't try and buy the consumer with deep discounts.