In just a few days Startup Tunnel (STun) will begin. Twenty-one young founders building nine startups over thirteen weeks. I'm in charge of this experimental incubator, which is backed not by Microsoft or Google, not by Valley money, nor even the Times of India, but by a motley network of entrepreneurs, technologists, professionals and consultants, who've come together and agreed to try and mentor these new companies. It's a lot like a snake eating it's own tail. There's every reason to be sceptical, every reason to worry, not least for all the talk of another tech bubble brimming, of which we ourselves might be the latest worrying sign.
The nine companies we are supporting do things like deliver services to your doorstep, allow freelancers to connect, improve sourcing and hiring for companies, integrate your social media feeds and allow health professionals to share information. It's a motley mix of different ends of the online economy, almost always addressing the professional and personal needs of urban elites — the global and connected middle class — of which there is now a critical mass not only in India, but also Indonesia, the Philippines, South-East Asia and other parts of the world, all now addressable from India.
I feel compelled to explain why I think incubators and accelerators like STun are a good thing. So much is written about the culture of Silicon Valley and how new wealth is creating new disparities there. Uber is the new ethically-challenged face of startups, not only in India, but everywhere else in the world. And the magnates of Sand Hill Road were among the first to slam Picketty's book, Capital in the 21st Century, for failing to understand how capitalism really works. I'm sympathetic to both sides, and often struggle to articulate my sense that these worldviews can be reconciled, that they're both right in different ways. I for one find Picketty's statistically-supported argument, that we are indeed living in a more unequal society, quite compelling. But I also sense, in a way that I can't yet defend, that the way for us to get to a more equal society is to find ways to funnel capital more effectively towards the kind of social and technical innovation that might envision and create newer better ways with which to navigate our everyday lives.
