Founders will also be measured on governance quotient: Boat Co-founder Aman Gupta
- ByStartupStory | July 10, 2023
In addition to intelligence quotient (IQ) and emotional quotient (EQ), startup founders will now also be measured on their governance quotient (GQ), according to Aman Gupta, Co-founder and CMO of boAt. Gupta highlighted the increasing significance of corporate governance in the startup ecosystem, stating that it is crucial for founders to prioritize it from the very beginning.
Gupta took to Twitter to express his views, stating, “Apart from other things, Founders need IQ, EQ, and GQ. Governance quotient now will become more important than ever, and it’s good for the ecosystem that corporate governance is taken seriously from Day Zero.” This underscores the growing recognition that good governance practices are essential for startup founders to succeed.
Deep Bajaj, an angel investor and the founder of femtech startup Sirona, also stressed the importance of strong structures and practices for startups, particularly those that have received funding. Bajaj emphasized that funded startups possess external accountability and resources, allowing them to focus on implementing sound practices. He further emphasized the need to establish the right foundation at the outset, as it can be challenging to recover from a misstep in governance.
The Startup20 summit, held during India’s G20 presidency, recommended a 63-point self-regulatory framework for startups, spanning from the early stages to initial public offerings (IPOs). These recommendations, released in June this year, aim to provide guidance and promote good governance practices among startups.
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