Govt strikes fine balance to boost startup ecosystem, says Zupee CEO
Zupee Founder Dilsher Singh Malhi on Monday credited the Indian government for fostering a robust startup ecosystem, saying the government is striking the "right balance" between innovation and regulation.
ANI
Dec 09, 2024 13:54 IST
New Delhi [India], December 9 (ANI): Zupee Founder Dilsher Singh Malhi on Monday credited the Indian government for fostering a robust startup ecosystem, saying the government is striking the "right balance" between innovation and regulation.
Speaking to ANI, Malhi emphasized the role of startups in driving societal progress, while saying a thriving startup ecosystem is essential for any nation's survival
"The Indian government has done a fantastic job, especially in striking the right balance between innovation and regulation. Overregulation stifles innovation, while under regulation allows bad actors to creep in. Our experience working with the government to create a fair, transparent, and responsible gaming ecosystem has been exceptional," Malhi said.
Founded in 2018, Zupee recently leapfrogged to a milestone of 100 million users, cementing itself as the leader in the skill-based online Ludo segment.
Discussing Zupee's success among Indian users, Malhi pointed to the company's focus on culturally rooted games and making them more engaging. "Gaming is one of the most fundamental needs of humans. What Zupee has done well is take deeply culturally rooted games, make them even more fun, and bring them online to the masses," he explained.
Malhi compared entrepreneurial innovation to historic milestones like the invention of fire and electricity.
When asked what role startups like Zupee play in India's technological landscape, Malhi says: "I think it's the startups or the entrepreneurs we believe that move civilization forward. I think it was one, some innovator who invented fire, someone who has invented electric current, and someone and like one entrepreneur working to set up a civilization on Mars."
"Startups are the lever of progress for civilization and the country. A thriving startup ecosystem is essential for any nation's survival," he noted.
Addressing concerns surrounding responsible gaming, Malhi acknowledged the validity of criticisms but stressed the potential of advanced technologies like AI and blockchain to mitigate risks.
"We need frameworks that ensure entertainment while incorporating the right checks and balances. Leveraging emerging technologies can meaningfully address these concerns," he added.
As for Zupee's future, Malhi revealed plans to strengthen its position as a leader in the casual gaming market while exploring innovative applications of new technologies beyond its core business. (ANI)
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