We do not have the guts to go and buy a young company: Wipro Chairman
By MYBRANDBOOK
Tech giant Wipro does not feel too confident about acquiring startups, in spite of its commitment to back Indian startups through funds and reskilling youth.
Speaking at an event in IIT Bombay, Wipro’s chairman Rishad Premji noted that the company’s work culture, structure and process-oriented approach might destroy start-ups’ quick approach.
“The speed and efficiency with which a young startup can pivot and reprioritise, a big company does not move with that agility,” Premji noted.
“I don’t think we’ve had the guts yet to go out there and buy a very young company. Lots of M&As [mergers and acquisitions] as a company but not the guts to buy a small, very young company. We think we would destroy them,” he said.
He also specified that instead of acquiring startups, Wipro will focus on taking their products and solutions to the global market.
Meanwhile, the company has not turned away from other opportunities to help startups across.
Wipro launched its own venture fund of $100 Mn in 2015. Under the Fund I, Wipro invested $24.5 Mn in nine startups till 2017. These startups were all based out of the US and included Vectra Networks, Emailage Corporation, Altizon Systems, Vicarious, Drivestream Inc, Avaamo, IntSights, Talena, and TradeShift.
In September 2019, Wipro Enterprises launched another venture fund through its FMCG brand Wipro Consumer Care and Lighting. The Wipro Consumer Care Ventures looks to invest in startups working in the consumer brand space.
In December 2019, Wipro also partnered with the trade association National Association of Software and Services Companies (NASSCOM) for setting up a platform to train Indian students in emerging technologies — artificial intelligence (AI), data science, internet of things (IoT) and cyber securities.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
MICROTEK INTERNATIONAL PVT. LTD.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
ACER INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
ICONS OF INDIA : SRIDHAR VEMBU
Sridhar Vembu is the chief executive officer (CEO) of Zoho Corporation...
ICONS OF INDIA : SANTHOSH VISWANATHAN
Santhosh Viswanathan is the the Vice President and Managing Director f...
PARTNER SPEAKERS
PSU
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
BSE - Bombay Stock Exchange
The Bombay Stock Exchange (BSE) is one of India’s largest and oldest...
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
