An­gels Who Mean Busi­ness

En­trepreneurs who made a killing by sell­ing off their busi­nesses are now pump­ing it back into big ideas. Their sup­port of­fers hope in a gloomy mar­ket for in­no­va­tion.

India Today - - INSIDE - By M. G. Arun

En­trepreneurs who made a profit by sell­ing their busi­ness are pump­ing it back into big ideas, of­fer­ing hope in a gloomy mar­ket for in­no­va­tion.

They have grown and nur­tured busi­nesses into mam­moth en­ter­prises and ex­ited at an op­por­tune mo­ment, cre­at­ing huge wealth for them­selves. They have now turned an­gel in­vestors, and are bet­ting on new ideas and young en­trepreneurs, hand- hold­ing them through a risky ter­rain they are much fa­mil­iar with.

“Un­like in the West, there are many young and en­thu­si­as­tic peo­ple in In­dia with good ideas,” says Ajay Pi­ra­mal, who sold off his pharma firm to Ab­bott Lab­o­ra­to­ries, USA, for a cool Rs 18,000 crore in May 2010. “That’s where I see hope in In­dia.” Pi­ra­mal has set aside Rs 200 crore to in­vest in new ideas that can bring about so­cial change na­tion­wide, through his Pi­ra­mal Foun­da­tion.

Like Pi­ra­mal, the tribe of an­gel in­vestors, ready to sup­port cash-

RA­CHIT GOSWAMI/ www. in­di­a­to­day­im­ages. com

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