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TieCon 2007- The New Face of Entrepreneurship

TieCon is an annual business event attracting the best of venture capitalists, lawyers and other professionals worldwide, reports Shalini Kathuria Narang.

business Updated: May 20, 2007 18:54 IST

One of the premier annual business events attracting the best of the breed budding and serial entrepreneurs, venture capitalists, lawyers and other professionals from around the globe is TieCon - a two-day confederation held at the Santa Clara Convention Center in Santa Clara in California.

Besides a networking event for past, present and future associates, the yearly event is a tryst of sorts for making or maturing of new businesses and industry relationships amidst exchange of new ideas, insights, thoughts and musings.

Reflecting the global nature of successful businesses or aspirations thereof while understanding of local realities, the theme of Tiecon 2007 - The New Face of Entrepreneurship not only lucidly shone in the selection of panel topics but also in the global profile of the attendees at the conference that took place on Friday and Saturday, May 17th and 18th respectively.

This year the conference displayed the business global melting pot at its best and brightest and in words of one of the panel speakers has become a meeting place not only for Indian entrepreneurs but also for entrepreneurs worldwide.

Though IT businesses centered in the geographies of US, India and China represented the bulk of panel discussions and deliberations, yet, profile of attendees from Iran, China, Japan, India and other nations and topics diversity gave the conference a global flavor of sorts beyond IT initiatives and businesses.

Panel subjects ranged from anticipated subjects like Future of Computing and Semiconductors in Revolutionizing the Consumer Market Space to unconventional ones like Social Entrepreneurs: The New Agents of Business and Social Change and The CleanTech Trail Blazers.

Some of the other buzzwords at the convention included Shared Growth, Integrated development, Creative Destruction, Giving Back, Social Responsibility and inclusive global economy.

From India's perspective, experts continued their concern on slow infrastructural growth, segregated development in urban and rural sectors and a steeply divided economy. On a brighter side, speakers urged the attendees to look at poverty as an opportunity for entrepreneurship and scalability of successful initiatives. Venture capitalists investing in India and China in a session titled "Where are the VC's Investing?" emphasized the non-tech focus of India's mammoth domestic market and the steep wireless penetration. Suzlon Energy and Reva-the Electronic Car from India were highlighted as two interesting innovations holding huge global potential.

In the panel on The Changing Role of Japan , China and India in the Global Economy Nobuyuki Idei, Chief Advisor at Sony Corporation described Japan as an ABC country-an aging, bureaucratic and a closed society that needs to open up to international realities to attract global talent.

Emphasizing the need for understanding of cultural differences, Noboyuki Idei, Chairman of Sony Corporation in his keynote highlighted the positives of soft alliances versus hostile takeovers and hard buyouts. He also opined the need for alliance of Japanese corporate and other institutes with Tie to encourage entrepreneurship and venture capital funding to create an ecosystem of innovation and enterprise.

Highlighting the corporate responsibility side, Mark Benioff-CEO and Chairman of Salesforce.com-Software as a Service leader talked about his meeting with Dalai Lama and Ammaji and quoted the spiritual leaders: "Technology itself is not good or bad. It's what you do with technology that is important." In a first of its sort initiative, Sadhguru- Founder of Isha Foundation also spoke at the conference.

Bob Ingram-Vice Chairman of Pharmaceuticals, GlaxoSmithKline said to the attendees: "In life sciences you can do well in the traditional sense of entrepreneurship but the key towards human capital is to do good and not treatment but prevention of disease should be the key in developing countries." In answering a query on alternative medicine, he said; "the scope of alternative medicine as a business and medical opportunity is very great."