Bengaluru. The new Bangalore Kempegowda International Airport has since its inception been the butt of jokes owing to its location, situated way outside the city over the hills and far away at Devanahalli in Bangalore Rural district. The airport was planned to be located far away from the city to reduce congestion and noise in the city, because why should a quiet farmland locality miss out on all the fun?
Not only the residents facing the issue in reaching the airport on time, the investors who come to the city in large numbers also face problems as the money they bring to invest in a startup is of no use once they reach the office of the Startup after a long 2 hours drive.
The speed at which valuations of some startups increase is not comparable to the speed at which a person reaches from the airport to the city and due to this the stake that an investor can buy in a firm gets reduced quiet a bit. The investor’s group has asked the government to consider the valuation figure at the time when they reach the airport and not at the time when they reach the Startup’s office. Mr Shwetank Srivastava, one such big investor spoke to Faking News and had this to say,” The last time I came to the city to buy 40% stake in a Startup, I ended up getting only 20% stake as by the time I reached the Startup’s office the valuation increased by 100%. And the problem didn’t end there, the Startup failed to perform and closed down in the next 2 months. All my money was lost.”
It will be interesting to see whether any political party considers this issue as a major one and includes the solution in its manifesto.