Ratan Naval Tata, the former Chairman of Tata Sons who passed away at 86 on October 9 in Mumbai’s Breach Candy hospital, emerged as a significant figure in India’s startup ecosystem, offering crucial support to young entrepreneurs and startups. After his retirement in 2012, the industry stalwart Tata shifted his focus towards nurturing the new wave of entrepreneurship in India, playing the role of an investor, mentor, and guiding force for countless startups.
Ratan Tata made his first notable startup investment in 2014 when he invested in Snapdeal, marking his entry into the entrepreneurial ecosystem. Since then, he backed 46 startups, as per Tracxn, across sectors such as e-commerce, technology, fintech, health tech, and more. Some of the notable startups he had invested in included CarDekho, Xiaomi, Ola, Moglix, Lenskart, Urban Company, FirstCry, CureFit, GOQII, and more.
Beyond financial investments, Ratan Tata was also known for offering invaluable mentorship to startup founders. His business acumen, built over decades of experience leading one of India’s largest conglomerates, made his advice highly sought after. Founders often credited Tata for guiding them on business strategy, leadership, innovation, and scaling their ventures. His humility and approachable nature also made him a mentor figure for many young entrepreneurs.
Tata was a strong advocate of risk-taking and innovation in business. He believed that startups should not shy away from challenging the status quo or disrupting traditional industries. His investments in tech-driven businesses and forward-thinking ventures showcased his belief in the power of technology and innovation to solve societal problems.
However, he hadn’t thought out to become a startup investor. In 2019 during an interaction with VC firm Chiratae Ventures Chairman Sudhir Sethi, Tata had recalled that his role as a startup investor was accidental.
“I entered the startup investor partly by accident. During the years that I was with the Tata group, I always looked at the startups as a sector that is exciting but somewhat untouchable because somewhere or other there will be conflict of interest with Tata Group,” Tata told Sethi in a talk, PTI had reported.
“But when I retired I was free from it and I started making small token investments from my own pocket in what I considered to be exciting companies. So, what I did was to take some more risks than I might have taken under different circumstances,” he said.
One of the defining features of Tata’s approach to startups was his emphasis on ethical business practices. He encouraged founders to not only focus on profit but also on building companies that positively impact society. His personal values of integrity, responsibility, and social impact reflected in his support for businesses that aim to make a difference, whether in healthcare, education, or financial inclusion.
“The drive to start something new, the fire in the belly, a better way to do something that is being done or a good opportunity to undertakeall to make a difference… and above all the courage and tenacity to see it through, be it good or bad, and yet make it happen are the hallmarks I look forward in entrepreneurs,” Tata had said in his talk with Sethi.
Overall, Ratan Tata’s involvement in the startup space provided a massive boost to India’s entrepreneurial landscape. His backing enhanced investor confidence in the Indian startup scene and inspired many traditional investors to explore early-stage ventures. His influence played a pivotal role in making startups a mainstream part of India’s economic fabric.
As one of India’s most respected business figures has left a lasting mark on the business world, here’s what Indian startup founders tweeted in tributes to the business doyen:
Kunal Bahl, Snapdeal: India has lost one of its greatest titans, a true statesman of industry. Mr. Ratan Tata was more than just a business leader—his compassion, humility, and kindness inspired millions. His legacy will live on forever. You will be deeply missed, Mr. Tata.
Urban Company’s Abhiraj Singh Bhal: Mr. Ratan Tata was an embodiment of all the values which India and Indians should strive for – Humility, Integrity, Service before Self, Trusteeship, Excellence, Grace, Conscious Capitalism and Love for Nation. In our very first meeting with him back in 2015, he told us, “India needs what you are building, keep the quality high and the rest will follow”. We at
@urbancompany_UC were fortunate to have him join us subsequently as a shareholder, and derive immense inspiration from his words and the values he stood for. Some men do live on forever. Salute to the greatest Indian I have ever met.
Paytm’s Vijay Shekhar Sharma: A legend who will inspire every generation. Entrepreneurs of next generation will miss interacting with the most humble businessman of India. Salutes Sir, Ok Tata Bye Bye.
GOQII’s Vishal Gondal: Deeply saddened by the passing of @RNTata2000, a visionary investor, mentor, and a great loss to the nation. During COVID, I had the honor of setting up his GOQii to track his vitals, and his curiosity and insights left a lasting impact. He always shared his wisdom with humility and kindness. May he rest in peace.
Amazon India’s Amit Agarwal: Deeply saddened by the passing of Shri Ratan Tata. His vision, humility, and relentless commitment to making a difference have left an indelible mark on all of us. His legacy will continue to inspire generations to lead with purpose and unwavering values. He will be missed. #RIP #RatanTata