PRESS RELEASE, NEW DELHI
The Young Business Leaders Forum and Skill & Entrepreneurship Development Committee of PHDCCI organized Virtual Conference on “Transforming India through Entrepreneurship and Innovation” to gain key insights into entrepreneurship and innovation which would empower India to transform socially and digitally.
Dr. SS Acharya, General Manager, SIDBI in his address mentioned the Aatmanirbhar Bharat by the Hon’ble PM Shri Narendra Modi ji, which is possible only through promoting entrepreneurship. He said it is important to realize what are the needs for transforming India. Dr Acharya added that entrepreneurs create wealth and we need more value creators. He explained how India has become an entrepreneurship friendly country where never seen before opportunities are waiting to harnessed by the entrepreneurs. He said that the entire ecosystem has developed like angel funding, investing and mentoring the startups. He explained about the Fund of Funds by SIDBI wherein an In-principal approval is provided to an idea within 59 minutes which later on is followed by funding. He also mentioned various other schemes which can be availed by the entrepreneurs though government funds.
Mr. P Somarajan, CEO, Atal Incubation Centre, IIT Delhi Sonipat Innovation Foundation in his address said that the young India has lot of energy which needs to be directed. We need to guide them how to build a business as starting up a startups is just one step. It is long process which needs guidance and hand holding. He mentioned about the facilities provided by the Atal Incubation Centre and the schemes of government which can be availed through the incubators. He stressed on the ideas which are useful to the society.
Mr. Pradeep Multani, Senior Vice President, PHDCCI in his remarks highlighted that entrepreneurship and innovation are the need of the hour. He said that it is important to innovate and be open to new ideas in the business while referring to traditional old businesses. He mentioned it is important to change with times.
Ms. Aditi Pasari, Chair, YBLF in her welcome remarks briefed the audience on the various activities of Young Business Leaders Forum. She said that to sustain rapid growth and alleviate poverty, India needs to aggressively harness its innovative potential, relying on innovation-led, rapid, and inclusive growth to achieve economic and social transformation”. The innovative potential of the young Indian population, if supported through an effective innovation ecosystem, holds potential for developing entrepreneurship and providing the growth and job opportunities that India needs
Mr. Jayant Krishna, Chair, Skill & Entrepreneurship Development Committee, presented the theme address for this virtual conference. He considers this Session very important as India is witnessing a lot in innovation and entrepreneurship. With the third highest GDP, it has a lot to do on innovation which we have been missing on as compared to similar economies across the world. He also said that India has the best of the start-up ecosystem and we are witnessing the third higest growth rate in start-up ecosystem which is very encouraging for the entrepreneurs. He also shared that Artificial Intelligence, IoT and Data Science have brought in the much needed digitization leading to faster developments which is helping the enterprises and start-ups grow. We need to develop a culture of innovation then only we will be able to see the real game change in entrepreneurship and business.
The second session was on “Translating your idea into a success story” and was moderated by Mr. Salil Gupta, Co-Chair, YBLF. He started by a famous quotation – “when you find an idea which you can’t stop thinking about, that’s the idea you should be working on”. The other panelists in the session were Mr. Anil Chikkara, Founder CEO, Bluebolt Startup Factory; Mr. Rahul Jain, Co-Founder, Epigamia and Mr. Saurabh Jain, Founder, Fun2do labs (EdTech Startup) , Ex Vice President, Paytm and Startup Mentor.
Mr. Anil Chikkara, Founder CEO, Bluebolt Startup Factory said that huge disruptions are taking place in the ecosystem in India. He said that average age of startup worldwide is 45 years which is not the case in India. He suggested to not count the success of a startup only on fancy valuations. Mr Chikkara also stressed on rural areas which has lot of potential which is unexplored and huge potential and building the micro entrepreneurial ecosystem which would lead to change on ground level.
Mr. Rahul Jain, Co-Founder, Epigamia in his remarks said that there is so much of acceptance for startups and entrepreneurs in India than 5 years ago. He said that people are open to try out new products today and accepting the new ideas in the market. He added that it takes a lot of passion and commitment to get success and not only look go after the glamour part of a business. He recalled his experiences of Epigamia and how the brand innovated the existing products in the market. Mr. Jain said that young entrepreneurs will play a disruptive role in the coming times. He stressed on innovating the products and encouraging a good culture within the company.
Mr. Saurabh Jain, Founder, Fun2do labs (EdTech Startup) , Ex Vice President, Paytm said that the innovation is the need of the hour. He said there are lots of problems in India for which a startup can come out with solution and make the on ground change. He said the government is also supporting though its various schemes and grants but a lot more needs to be done. Mr. Jain said things are changing and moving in right direction.
The Panel discussion also involved Mr. Pradeep Multani, Senior Vice President, PHDCCI; Mr. Jayant Krishna, Chair, Skill & ED Committee, PHDCCI; Mr. Atul P Anand, Co-Chair, Skill & ED Committee, PHDCCI, Ms. Aditi Pasari, Chair, PHDCCI and Mr. Harsh Kataruka, Co-chair, YBLF and all asked their queries from the esteemed speakers.
Mr. Atul P Anand, Co-Chair, Skill & Entrepreneurship Development Committee in his Vote of Thanks said that it is important to have “will” in order to “skill” people. He thanked all the esteemed speakers for the program for sharing their valuable insights and experiences with the audience. He also thanked YBLF Annual sponsors Artify, Bry Air (Asia) Pvt Ltd., Gulshan Polyols Ltd. Instinct Infra and Power Ltd. and Multani Pharmaceuticals Ltd. for supporting the annual activities of YBLF. He also thanked Online Media Partner “Wext.in” and Magazine Partner “Corporate Review” for associating with the event.
The overall program was moderated by Mr. Vivek Seigell, Assistant Secretary General, PHDCCI and was well attended by business fraternity, startups and aspiring entrepreneurs.
PHDCCI’s session was supported by DLF India; Multani Pharmaceuticals; UFLEX; JK Tyre & Industries; Marble City; Paramount Cables; SMC Investments and Advisors; Blossom Kochhar Aroma Magic; Comtech Interio; DCM Shriram Industries; Radico Khaitan; Ajit Industries; Synergy Environics; Timberworkz; P S Bedi & Co; and IFFCO.