An entrepreneurial conclave to find the best start-up idea began at IIM-Indore on Saturday. The winner of the two-day event will be awarded Rs 15 lakh in addition to a trip to Silicon Valley in the United States.
A total of 15 start-ups, including three from Indore, were selected from over 300 applications to be featured at the event, and the winner will be decided by a panel of industrial experts from the field of entertainment, education, healthcare and technology.
“The country is experiencing a boom in all sectors. The start-up culture is seeping in. It is therefore important that the talent is rightly gauged and worked upon,” said Rishikesh Krishnan, director IIM-Indore.
Industry experts in attendance said education and healthcare are the sectors to keep an eye on in the coming future.
Rishi Kapal, chief executive (program innovations), EDUGILD, said, “Nothing is impossible these days. All one needs is the right motivation and database, and the company is good to go. Before beginning with a journey as an entrepreneur, one needs to be a risk-taker.”
Also at the event, Kris Gopalakrishnan, co-founder of Infosys, delivered a lecture on ‘Lessons on entrepreneurship’, shared his journey to success with the audience. “When we started with Infosys in 1981, it was just seven of us. Today, we are counted amongst the biggest companies of the world. All this was never easy, but it was our passion to create our dream that got (kept us going).”
Regarding the data presented by a US university on the classification of start-ups, Gopalkrishnan said, “It is very surprising that only 5-6% of management students wish to open their own venture, while the percentage is extremely high amongst engineering students. A similar culture exists in our country too.”
‘Youngsters in the country want to play it safe’
Ronnie Screwvala, UTV group founder, an entrepreneur and philanthropist, said, “The young India is growing in sectors where there is no policy restraint. The telecom industry and IT sector are areas where there are no hurdles at all. Youngsters can expand themselves manifold times, but many of them don’t wish to take the risk.”
Stating that the mindset of youngsters needs to be channelized in the right direction, Screwvala said, “When I founded UTV 25 years back, I had no godfather backing me up. I had a plan and was passionate about it.”
He said self-confidence and a belief in ones’ idea was all that is required to pitch for any amount of funding.
Screwvala also took the opportunity to share details about his new venture ‘Upgrad’. “A number of youngsters these days wish to take a break and then pursue their masters. These students usually work in their gap year. It is in this (gap) year that we wish to bring them world-class education,” he said, adding that courses in entrepreneurship, data analysis and commerce start November this year.