The problem is not in starting a company. It's in the 20 to 100 million investment if needed: those do not exist here.
You'll get up to 10 million investment from whatever bank + state arrangement no problem. But when you want to scale up you're fucked if it requires money. So no "let's get 1 billion users and then think about milking them" way to do business, you have to be profitable a lot earlier. And you better not require too much R&D.