For an entrepreneur who has floated almost all his ventures during recessions in the past, Romesh Wadhwani, founder of Symphony Technology Group and chairman of Wadhwani Foundation, says he loves recession which is a great time to buy companies and build discipline in one's organisation. In a chat with Kalpana Pathak, Wadhwani shares how his foundation plans to help Indian entrepreneurs. Excerpts:
You donated Rs 32.5 crores to two centres in India for research in biosciences. Why? Yes. Both the centres-- the Shanta Wadhwani Centre for Cardiac and Neural Research at National Center for Biological Sciences (NCBS) in Bangalore and the Wadhwani Research Centre in Biosciences at IIT Bombay are part of the innovation initiative of the Wadhwani Foundation where we have pledged Rs 32.5 crore in total---Rs 7.5 crore at NCBS and Rs 25 crore at IIT Bombay. The opportunities for innovation in India are very broad. And we have chosen biosciences and bioengineering as the initial focus. We think it can help health care in India and also across the world. It takes advantage of the great Indian mind and talent. And focuses on areas where most other Indian foundations and corporations don't seem to be investing enough.
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