Economy

Entrepreneurs urged to look beyond India, innovate and digitise

L N Revathy Coimbatore | Updated on January 20, 2018

Concluding the third leg of his tour, Jagat Shah, Founder and Chief Mentor, Cluster Pulse, observed that at present there is more money in the market than demand.

Stating that he has never come across a business project that could not be funded, Shah, who incidentally is the Special Advisor to PMO initiatives, said: “When the business plan is poor, funds obviously are difficult to come by.”

Exchanging notes with entrepreneurs as part of his 'Mentor on Road' programme at the Confederation of Indian Industry, Coimbatore zone, Shah said that the Government had resolved 27 issues which remained stuck for 20- 22 years, paving way for ease of doing business.

The programme at Elysium Towers was organised in association with Young Indians, Coimbatore.

During his tour, Shah had been meeting MSMEs, rural enterprises, young entrepreneurs, start-ups, professionals, industry associations and local community leaders to guide and support businesses for international market linkage.

He urged entrepreneurs to enhance their competitiveness and look beyond the Indian market. “Don't limit your business to Indian market, while ensuring its eco-friendliness,” he said and highlighted the seven forms of capital such as cultural, knowledge, human and institutional capital, financial, man-made and natural endowments.

“The modern entrepreneur should look towards cultural capital as the development quotient,” he said, explaining the various forms of capital.

While hailing the contribution of the manufacturing sector and growth achieved in several fields, Shah noted that it has been a jobless growth. “The prime challenge is job creation for the 1.4 crore young people joining the job market every year. Perhaps this is where the term start-up assumes primary importance.”

Emphasising the need for a complete overhaul in the academic curriculum, he said: “Thousands of engineers and tech graduates pass out every year; unfortunately a good number of such youngsters lack basic conceptual clarity for want of practical approach in their learning process. The way forward is towards integrating innovation and technology.”

“Conceptualise your ideas and make them saleable if you aspire to become an entrepreneur, for there is no dearth of capital. In fact, technology transfer from India to Senegal is happening in a big way and out of the 100-odd technologies that have been transferred, at least 30 per cent has been from Coimbatore. Give way to digitisation, else you are finished,” Shah added.

Published on May 18, 2016

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