90% of Indian Startups Have No Meaning, They Are Nonsense: Kishore Biyani

The Future Group CEO, who is well known for his dislike for online companies, continued his tirade saying that

“90% of the startups have no meaning at all, they are nonsense. I think the canvas of startup needs to be bigger.”

Biyani who was speaking at The Economist India Summit, said most startups only want to sell themselves, and have no long term plan. He advised startup founders to work on a bigger canvas and big ideas.

Biyani recently announced his decision to close down his e-commerce venture, Big Bazaar Direct, after failing to create a profitable model.