Tannenbaum: Indian regulators delayed startup funding a year over company name
Dan Tannenbaum · Dan Tennebaum - The Case for India at India Capital (EP.387) · May 23, 2024 · at 11:41
Dan Tannenbaum (Managing Director at India Capital) discusses the bureaucratic hurdles of operating a startup in India in the late 1990s.
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“The venture capital investment that we were expecting any day from overseas, the government body called the Foreign Investment Promotion Board that was responsible for reviewing and approving this investment determined that all the paperwork was in order, everything was fine, but they just didn't like the name of our company. It was called India Life Pension Services, and they said, We don't much care for India, and we don't like life, and pension doesn't sound right to us. How about you just go with services? And that took nearly a year to unravel and get past that problem till we got our funding.”
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