SOURCE : NEW18 NEWS
Last Updated:May 22, 2025, 18:24 IST
Kunal Shah stressed that in fast-changing fields like tech and AI, only those who adapt will thrive, as the top 100–200 companies change every 5–7 years
Kunal Shah argued that India possesses significant potential, but innovation often arises from overcoming constraints. (Instagram/@kunalb11)
CRED founder Kunal Shah has sounded a warning about India’s startup ecosystem, pointing to a lack of a culture of excellence. He noted that many Indian startups focus more on mutual comparison than on driving genuine innovation.
Speaking at Prosus’ Luminate event in Bengaluru, Shah said, “We start comparing ourselves with each other very quickly, without working hard towards excellence. Excellence has not yet become a culture in India,” he remarked.
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Shah argued that India possesses significant potential, but innovation often arises from overcoming constraints. “Our way of understanding the market may be different, and in the future, many companies will be built in the same direction, but we need to work on a strong foundation,” he added.
He stressed the importance of continuous adaptation and innovation, particularly in rapidly evolving fields like technology and AI. “Top 100 or 200 companies change every 5 to 7 years. Only those who can adopt the change will move ahead,” Shah emphasised.
He also pointed out that an individual’s ambition is shaped by their environment. Without examples of excellence, people struggle to dream big.
Shah criticised the tendency in India’s startup culture to idolise founders, only to abandon them when things go awry. “We worship founders like gods, and when things go wrong, we immerse them,” he said.
Shah’s insights serve as a wake-up call for young startup founders in India, urging them to pursue excellence through real innovation and hard work rather than mere comparison or funding.
CRED, an Indian fintech company founded by Kunal Shah in 2018, focuses on credit card payments, rewards, and financial management. It targets users with a credit score of 750 or more, aiming at a premium user base.
Key services offered by CRED include:
Credit Card Bill Payments
Users can link all their credit cards to CRED and earn cashback, rewards, and exclusive offers for making timely bill payments.
CRED Cash
An instant personal loan service that provides quick access to funds at low-interest rates.
CRED RentPay
Allows users to pay their rent directly to their landlord using a credit card, helping manage large monthly expenses more conveniently.
CRED Store & Experiences
A curated marketplace within the app where users can redeem reward points to access exclusive products, brand deals, and premium experiences.
- Location :
Bangalore, India, India
- First Published:
May 22, 2025, 18:24 IST
