Infosys co-founder and chairman of Axilor Ventures S. (Kris) Gopalakrishnan has advised startups against raising funds more than what is needed.

“Seek investment the minimum that you require to hit the next milestone. Don’t waste investors’ money. Don’t waste your time also. If you have got too much money, the tendency will be to waste time, as you will continue to push ahead with a failed idea,” he told a conference on startups here on Tuesday.

“It is actually better to fail small, fail early and waste less money from the investors,” Mr.Gopalakrishnan told the Startup Connect organised by industry body CII here.

There is nothing wrong in staying as MSMEs since such units serve as the backbone of the economy and help in job generation, the former CII president said any business that creates employment is successful business.

State governments have an important role in encouraging startups as they help create wealth and jobs. Telangana government is doing a wonderful job with regard to the startup ecosystem, he added.