Education

We need plenty of ecosystems for entrepreneurship and start-ups to flourish, says Montek Singh Ahluwalia

Our Bureau Bengaluru | Updated on August 13, 2019 Published on August 13, 2019

Dr. Montek Singh Ahluwalia (file photo)   -  THE HINDU

Sahil Barua, Co-Founder of Delhivery and an alumnus of IIMB, said that entrepreneurs should choose problems that are large and meaningful

 

The government should provide an ecosystem that is supportive of disruption for it will be a huge sign of success when a small organization disrupts a large organization, said Dr Montek Singh Ahluwalia, former Deputy Chairman of Planning Commission (2004-14).

Speaking the Eximius 2019 - the Entrepreneurship Summit hosted by the students of IIM Bangalore, Dr Ahluwalia said “We need plenty of ecosystems for entrepreneurship and start-ups to flourish.”

Here the finance ecosystem, like funds and venture capitals, must support it as well.

Kris Gopalakrishnan, Chairman of Axilor Ventures and Co-Founder of Infosys, reflected on his own journey as an entrepreneur and said, “Entrepreneurship is the activity of setting business or businesses taking on financial risks in the hope of profit. The biggest drivers of transformation are technology and innovation.”

He encouraged students to find a purpose in life and follow the principles of ‘Ikigai’ – the Japanese secret to a long and happy life that has transformed their outlook on life and business.

Delhivery

Sahil Barua, Co-Founder of Delhivery and an alumnus of IIMB, shared the story of how Delhivery, a B2B & C2C logistics service provider company, was born. “The world has changed largely because of the technology around us. Expose yourself to technology. Entrepreneurs should choose problems that are large and meaningful. You must have the ability to take responsibility for the entities that you create. Choose big problems and stick to them. Work with people who care and encourage you to do what you do,” he said.

Era of EPIC

Avnish Sabharwal, MD, Accenture Ventures, shared insights on ‘B2B Deep Tech Start-up’ and explained “This is the era of EPIC (Exponential, Pervasive, Intelligent, Continuous) disruption and Innovation is the only way to survive it. Start-ups are the harbingers of innovation in India. India has emerged a thriving innovation ecosystem powered by start-ups and enablers. B2B tech start-ups are expected to be the next big thing in India, riding on funding and growing innovation interests.”

Vaishnavi Reddy of Brandstory, Ankit Chowdhary of Servify and Manan Chandan of Healthify spoke about the traps that start-ups fall into during their initial years. They emphasised the need for user-centric design and talked about how teams should learn to design as per today’s business scenarios.

Prof B Mahadevan, faculty from the Production and Operations Management area at IIMB, spoke on inspirational leadership. “The Bhagavad Gita is helpful for budding entrepreneurs,” he observed, adding that entrepreneurship was about charting the uncharted path. “The passion to make a difference to the world and the joy of solving unaddressed problems is what should drive entrepreneurs,” he said.

Published on August 13, 2019

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.