Startups should be more vocal about their problems with the board and should avoid hiding issues with investors, said Harsh Jain, co-founder and chief executive officer, Dream11. He was speaking at the inauguration of T-Hub2 in Hyderabad. T-Hub is an innovation intermediary and business incubator supported by the Telangana government.
“Just be open about your problems, your board is not someone you should be worried about thinking oh they are our investors, they will get to know about some of our problems and so they might not invest further,” Jain was quoted by Money Control as saying.
“The best way to predict the future is to create it” – Lincoln
Delighted to announce that Hon’ble CM KCR Garu will be inaugurating the new facility of @THubHyd on 28th June giving a huge fillip to the Hyderabad Innovation ecosystem#InnovateWithTHub #HappeningHyderabad #THub pic.twitter.com/ZT1BtRWoGt
— KTR (@KTRTRS) June 26, 2022
“It is very important for your board to know about your problems to work with you on solutions. In fact, that makes a much deeper bond that allows them to invest further because they feel connected to the company. They feel they are with you, working on problems with you,” Jain added.
Visuals telecasted by Telugu news channels have shown Jain sharing the stage with Telangana CM KCR and other top officials. Dream11 does not offer services in Telangana since the state banned gaming for stakes in 2017.
In April, Mr Jayesh Ranjan, the IT Secretary for the state said even when there is a ban, the people addicted to the online games have devised modes to evade the ban by use of VPNs and avoiding geo-location tracking.
The IAS officer said the state government is now working on a law to regulate online games of skill. He said the draft law proposes to establish an oversight board comprising of government, retired judges, retired bureaucrats, and the industry which will look into questions of what is a game of skill and a game of chance. KCR is said to be against any form of gaming for stakes. While so sharing the stage with Harsh is seen as a positive development by the industry.