Looking Beyond mere IDEAS
We Indians are most entrepreneurial people in the World. Innovation is in our blood. But the biggest challenge lies in converting it into an enterprise.
It is the dawn of the golden age of entrepreneurial in the country. From farmers to government servants to management graduates, a growing legion of aspirants is getting hooked on to the thought of bossing their own business. There are thousands of novel ideas floating about in the ether, and one might expect to see as many new businesses to start any moment. After all, money is no longer a big problem. Even a decade ago, raising funds for a new business was a frustrating uncertainty, but today, venture capitalists, bankers and angel investors are vying with each other to hunt down the next big idea. The domestic market for goods and services is growing rapidly and so are exports opportunities. All this, naturally must lead to explosion in the start-up scene across the country.
The hiccups in entrepreneurial, however, cannot be blamed on young risk-takers alone. Today’s entrepreneurial, the best and worst of them, are still the torch bearers of a new India that is awakening to the economic potential of a vast population. They are turned into the rapid changes in the world of business and technology and are quick learners. Many experts said the environment in the country, notwithstanding recent improvement in the country, notwithstanding recent improvement, is stifling. “There is a lot of entrepreneurial successes in India working very much with one hand tied behind their backs due to lack of infrastructure, sources of risk capital, and so on. It is to grow a plant when the land is fertile and fertilized, but difficult when you are planning on clay and have to contend with rocks deliberately put in your path by others, including the government and other regulations.
“For one, the country lacks a vibrant system of training and education in entrepreneurial. There is no curriculum that deals with the real problems of a start-up. There is no problem with initiative, but the problem lies with the ecosystem. The ecosystem is not in favour of start-up companies. There is no concerned effort being effort to bring together government bodies, institutions and industry organization to promote a business culture. Mentors, so crucial for an inexperienced business leader, are hard to find. Unfortunately, only a small fraction of students go for entrepreneurship. Someday, I hope the IIMs would be better know for the amount of investment the students are able to attract rather than the salaries they receive,” said Mr Anil Gupta, professor IIM-A.
Despite these hurdles, expert assert, the rise of star-up culture in the country is a robust phenomenon. “We Indians are the most entrepreneurial people in the world. Innovation is in our blood. But the biggest challenge lies in converting it into an enterprise.”
Before you approach an angel investor, you need a well-thought out idea(or)business model, some validation by potential customers or market space, an appreciation of the need for and an ability to build a team and mostly a passion to succeed.
It is the dawn of the golden age of entrepreneurial in the country. From farmers to government servants to management graduates, a growing legion of aspirants is getting hooked on to the thought of bossing their own business. There are thousands of novel ideas floating about in the ether, and one might expect to see as many new businesses to start any moment. After all, money is no longer a big problem. Even a decade ago, raising funds for a new business was a frustrating uncertainty, but today, venture capitalists, bankers and angel investors are vying with each other to hunt down the next big idea. The domestic market for goods and services is growing rapidly and so are exports opportunities. All this, naturally must lead to explosion in the start-up scene across the country.
The hiccups in entrepreneurial, however, cannot be blamed on young risk-takers alone. Today’s entrepreneurial, the best and worst of them, are still the torch bearers of a new India that is awakening to the economic potential of a vast population. They are turned into the rapid changes in the world of business and technology and are quick learners. Many experts said the environment in the country, notwithstanding recent improvement in the country, notwithstanding recent improvement, is stifling. “There is a lot of entrepreneurial successes in India working very much with one hand tied behind their backs due to lack of infrastructure, sources of risk capital, and so on. It is to grow a plant when the land is fertile and fertilized, but difficult when you are planning on clay and have to contend with rocks deliberately put in your path by others, including the government and other regulations.
“For one, the country lacks a vibrant system of training and education in entrepreneurial. There is no curriculum that deals with the real problems of a start-up. There is no problem with initiative, but the problem lies with the ecosystem. The ecosystem is not in favour of start-up companies. There is no concerned effort being effort to bring together government bodies, institutions and industry organization to promote a business culture. Mentors, so crucial for an inexperienced business leader, are hard to find. Unfortunately, only a small fraction of students go for entrepreneurship. Someday, I hope the IIMs would be better know for the amount of investment the students are able to attract rather than the salaries they receive,” said Mr Anil Gupta, professor IIM-A.
Despite these hurdles, expert assert, the rise of star-up culture in the country is a robust phenomenon. “We Indians are the most entrepreneurial people in the world. Innovation is in our blood. But the biggest challenge lies in converting it into an enterprise.”
Before you approach an angel investor, you need a well-thought out idea(or)business model, some validation by potential customers or market space, an appreciation of the need for and an ability to build a team and mostly a passion to succeed.
