Entrepreneurship

Mohammad Anas Wahaj | 14 feb 2015

Entrepreneur mindsets are key to create innovative and thriving businesses. India's entrepreneurial ecosystem is in its formative stages to attract young minds and provide them with tools, skills, environment and market to succeed in both technology and non-technology businesses. Chirag Kulkarni, serial entrepreneur and CEO of C&M Group, has interacted with around 500 founders who are building startups and noted some often repeated beliefs that seem to be a cause of concern. According to him the following 5 mindsets have potential to hinder the progress of Indian startups - (1) We can't do anything unless a VC invests in us. (2) I need to follow an existing model of success. (3) We can't build a successful company, unless we move to Silicon Valley. (4) Screw marketing, business development, culture, and anything other than engineering, sales, and operations. (5) We don't have the potential to be a billion dollar company. Read on...

VentureBeat: 5 mindsets that may hinder Indian startup success
Author: Chirag Kulkarni

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Mohammad Anas Wahaj | 14 feb 2015

'Startup Village', founded in 2012 in Kochi (Kerala), is India's first Public Private Partnership (PPP) technology business incubator jointly promoted by the Department of Science and Technology, Government of India, Technopark and MobME Wireless. According to Mayor of Menlo Park, Catherine Carlton, 'We are extremely impressed by the talent of the youngsters here as well as by the kind of support that the government is extending. We will be very pleased to welcome selected start-ups, possibly 100 companies this year, to Silicon Valley and provide them an opportunity to expand and grow their business there'. She was here to sign a twin city agreement with Kochi Mayor Tony Chammany to boost partnerships between Menlo Park and Kochi. Sanjay Vijayakumar, Chairman of Startup Village, said 'We aim to boost Landing Pad, a project supported by the Kerala Government at the Silicon Valley, through this new tie-up. Read on...

IBNLive: 100 Indian tech startups may get to learn 'how to build a billion dollar company' in Silicon Valley
Author: NA

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Mohammad Anas Wahaj | 04 feb 2015

Entrepreneurs and entrepreneurship are important constituents of the business ecosystem and play an important role to build a thriving economy. Entrepreneurs take risks and channelize resources to create products and services, and develop businesses and organizations taking them in the direction they consider would generate profits for the stakeholders. Entrepreneurs need skills, both inherent and acquired, to build lasting and successful businesses. A. K. Mishra, Founder and Director of 'Art of Success', provides set of specific skills for entrepreneurs to succeed in a competitive and dynamic business environment - (1) Creativity (2) Teamwork and Determination (3) Functional Knowledge of Business (4) Risk-Taking Capability (5) Patience. Read on...

The Financial Express: Entrepreneurship skills required for 2015
Author: A. K. Mishra

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Mohammad Anas Wahaj | 22 sep 2014

The recent study by Pitchbook Data, based on the funding data between 2009 to July 2014, number of startups and analysis of educational backgrounds of over 13000 founders globally, observed that IIT's (Indian Institute of Technology) are among the top 10 of world's most entrepreneurial universities, with 264 entrepreneurs, who have founded 205 companies and cumulatively raised US$3.15 billion. On the basis of total capital raised, at the top is Stanford University (US$ 3.51 billion) and at the 2nd spot is taken by Harvard University (US$ 3.23 billion). According to Sangeet Paul Choudary of Platform Thinking Labs, 'Less than 2 percent of the applicants get selected, and less than 0.1 percent make it to a top rated branch like computer science or electrical engineering, which is where most of tech-related entrepreneurship and VC activity takes place.' The study by Kauffman Foundation found that 33.2% of all companies founded by immigrants in the US had an Indian co-founder. But a different point that should also be mentioned here is that IIT's are not able to make a higher global mark on the academic basis with most of them being ranked between 351-400, according to The Times Higher Education World University Rankings for 2013-14. Read on...

QUARTZ: Why India's best tech schools produce more entrepreneurs than the Ivy League
Author: Nelson Vinod Moses

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Mohammad Anas Wahaj | 21 sep 2014

Entrepreneurs need, in addition to never-give-up attitude, creativity, differentiating skill-sets etc, a sizeable amount of external resources at the right time to build their dreams into business realities and to grow them succesfully for their own and society's benefit. These resources can be valuable guidance and mentoring from experts, initial angel funding to accelerator and incubator support, and collaborations and partnerships with individuals and organizations. To pursue entrepreneurship in India, it is important to have awareness about organizations that facilitate and support entrepreneurial ideas and startups, so that one can explore and connect with them for the valuable assistance at the critical juncture of their existence. Some of these organizations are - Centre for Innovation, Incubation and Entrepreneurship (CIIE): One-stop-shop for funding, mentoring and enterprise connect; Entrepreneurship Development Institute of India (EDI): Provide world-class mentoring and guidance services; Indian Institute of Entrepreneurship (IIE): Focuses on development of micro, small and medium enterprises and, promotes and facilitates entrepreneurship, alongwith providing consultancy, advisory and training services; NASSCOM 10,000 Startups: The initiative of National Association of Software and Services Companies, is created with the aim to provide funding and enable entrepreneurs to start-up and grow their businesses. Read on...

Business Insider: Startup! Claim Your F.A.M.E. (Funding. Acceleration. Mentoring. Enterprise Connect)
Author: Richa Sharma

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Mohammad Anas Wahaj | 22 jul 2014

In the recent ranking of 143 countries on the 2014 Global Innovation Index (GII), India slipped from 66 to 76. Three experts debate the reasons for this fall. Professor Deepa Mani of ISB identifies three issues - (1) Lack of proper measurement of different innovations that happen in Indian companies (2) Traditional organizations lack autonomy, flexibility and customer or business-oriented thinking (3) Access to risk capital, mentorship and linkages between academia, industry and government are required. According to Prof. Mani, 'For things to change, the government, academia and India Inc. all need to work together to encourage people to try new things and provide the risk capital and mentorship for such efforts.' Richard Rekhy, CEO of KPMG India, says, 'Only 1% or less of gross domestic product is being invested in innovation in India. Innovation has to be nurtured. A majority of India's weaknesses arise from the absence of an encouraging ecosystem that fuels innovation.' Moreover he suggests that for emerging market like India, disruptive innovations will be important to propel growth. According to Adil Malia, Head of HR at Essar Group, India as a society is very pattern-driven and slow in adopting new norms and this is the root cause of lack of innovation. He mentions three critical things that are responsible for the level of innovation in India today - (1) Lack of research in universities and institutions (2) Service nature of India's economy results in students getting focused on career-based and structured learning to get better jobs. They lack knowledge seeking approach to learning (3) Most companies, with the exception of pharma and life sciences don't spend much on innovation. He suggests that to foster innovation it has to begin at the student level. Read on...

Livemint: Indian companies' missing innovation DNA
Authors: Zahra Khan, P. R. Sanjai, Arundhati Ramanathan

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Mohammad Anas Wahaj | 27 nov 2013

With about 70% of India's population residing in rural areas, a converged approach is needed with participation from government, private sector, social sector and entrepreneurs, to fulfil the required rural development agenda. According to Mr. Parmesh Shah, Lead Rural Development Specialist of World Bank, the Last Mile Service delivery is a US$ 19 billion opportunity in India and entrepreneurs have to play a crucial role to translate it for the welfare and benefit of the rural population. He mentions service delivery deficiencies in agriculture, storage of agri-produce and health. He suggests focus on four key areas - entrepreneurship, service delivery, value chain and small scale manufacturing. Read on...

Odisha Diary: India Needs Entrepreneur Managed Service Delivery Models for Rural Areas: Shah
Author: NA

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Mohammad Anas Wahaj | 15 nov 2013

According to KPMG's '2013 Global Technology Innovation' survey of 811 business executives from technology industry, India is ranked third after US and China. India was ranked first in the technology confidence innovation index followed by Israel, US and China. Survey mentions cloud computing (with government as the main driver) and mobile (currently 800 million subscribers) as the two most important disruptive technologies that will dominate the Indian market for next three years. Development of biometrics and data & analytics technologies will also gain momentum. Read on...

bdnews24: India third in technology innovation survey
Author: NA

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Mohammad Anas Wahaj | 19 oct 2013

The recent study conducted on 40 hospitals with innovative strategies in India by Prof. Vijay Govindarajan and Prof. Ravi Ramamurti of Harvard University, advocates emulation of low-costs and technology innovations happening in Indian hospitals. Considering that the global economic slowdown is affecting the healthcare delivery it is valuable to understand and apply these cost saving methods that are a result of constant experimentation, adaptation and necessity. Some of these methods include - shortening length of sutures to reduce waste by doctors; low cost manual small incision cataract surgery; reducing heal-time by performing angioplasties through the wrist rather than the groin; use of technology that allows a single cornea to be sliced and used for more than one transplant patient; mix of low-cost healthcare workers and highly focused specialists; surgeons performing more procedures annually as compared to US; use of beating-heart method of surgery without shutting down patient's heart during operation. Read on...

The Times of India: Emulate India's innovation in healthcare: Harvard study
Author: NA

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Mohammad Anas Wahaj | 18 oct 2013

Social entrepreneurship has the potential to solve many issues that India faces in the field of education, healthcare, agriculture, employment etc. With combination of CSR (Corporate Social Responsibility) programs, government funding, independent NGOs, social entrepreneurs etc, a social development ecosystem can be created to support such efforts at the national level. Successful social entrepreneurs can mentor and guide the young and inexperienced social entrepreneurs that have implementable ideas to solve the social issues and problems. Read on...

CoolAge: Social Entrepreneurship - Transforming India
Author: Shreya Dalela

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