Talk by Dr. Sangeeta Pandit, Prof. & HOD Finance, at the Confederation of Indian Industry ( CII ) event in association with SIMSREE -‘Start Up India, Stand Up India – Enablers and way ahead’ on Saturday, 16 January 2016.
Dr. Sangeeta Pandit
Prof. & HOD Finance
Good Evening everyone! Warm welcome to esteemed panelists, CII representatives, honorable Director Sir, faculty colleagues, representatives of other colleges and my dear students. We are all gathered here today to deliberate, discuss and hear from entrepreneurs themselves about entrepreneurship. We are then going to hear our Prime Minister’s address launching the Start Up campaign.
India is one of the leading Start Up Hubs of the World with over 3100 mostly tech start ups in 2014-15. However our investments are not adequate and also most of it is from overseas. Our government has decided to help accelerate Start ups. Governments of Brazil and Korea invest heavily in Start ups. Our Start ups cannot ape the Silicon valley, we need to leverage our humongous population and build an ecosystem conducive to our environment and culture. We have the benefit of large number of young population, high mobile penetration, large number of internet users and untapped e commerce markets. We hear about successful start ups becoming global entities but many also have an early untimely death. We have to tread firmly but with caution. Proper mentoring and vigorous risk analysis is needed. Government can boost financial resource availability, technology and mentors can be identified but the main stakeholder of entrepreneurs have to be created, they are a creed by themselves, creative, hardworking, risk takers who walk new paths. Our education system needs to factor in subjects that will kindle and foster entrepreneurial skills.
Magazine-Business Today reported in their December issue about 10 Start ups in India which have grown big. Amongst them were Start ups in E-Learning, helping recruiters in filtering applications for IT jobs, E marketing, digital video content making and so on.
One must understand ones skill sets and core competencies, match it with market opportunities and in this frame work zero down on an idea. Rest is all about leadership skills, implementation and prudence.
If all want to be employees, employers are bound to fall short. The country needs entrepreneurs and today I think we are making history by taking a small step towards it.