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Making India More Enterprising: Beyond Shark Tank
Students need coding education and the skills of hiring as well, respectively. There has to be clarity in the educational system. A community of entrepreneurs is required as it can be a very lonely journey being an entrepreneur, according to the experts.
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Entrepreneurs are one of the major assets for any nation to grow as they provide opportunities by creating job opportunities, improving standards of living and contributing to gross domestic product (GDP) which leads to the overall growth of the economy.
“I believe unfortunately when it comes to entrepreneurship and everything associated with that Germany is a developing country whilst India is a developed country. A CTO of one of the largest banks in Germany said that whenever his colleagues are depressed and lack energy, he always tells them to go to the Frankfurt airport and take a flight to India. The energy and entrepreneurial ethos in India are amazing," said Chief Executive Officer (CEO) at Partex Group, Gunjan Bharadwaj while talking about entrepreneurship in India and the market in Germany.
Bharadwaj added that from 2001 to 2005, we had access to capital and people were open to listening to ideas. There has been enormous positive momentum since then. A lot many incubators started coming to India in IITs, NIITS and in all schools and where I studied, 50 per cent of the students want to be entrepreneurs.
India has a consumption-based economy. Certain educational awareness is also needed. Fundraising needs to be taught. The educational system should form a societal culture of entrepreneurship, according to the experts.
“I started my business in 2008 and I had no clue how to raise money. Entrepreneurship is in the blood of Indians. By 2012 our company was super profitable. For the first 4 to 5 years we were just building our business. Entrepreneurship is all about taking risks with a purpose that one follows. It is not only about making money but also creating jobs, satisfaction and at times one becomes a mentor and I was invited to different forums," said Chief Executive Officer (CEO) at Agribazaar, Amith Agarwal.
According to Agarwal, the last 6 to 7 years have been very interesting in terms of capital. Capital gives the super edge. There are a large number of international investors in our country. You need passion to run your business, not money. Capital has reached the tier 2 cities.
The Chief Executive Officer (CEO) at Agnikul Cosmos, Srinath Ravichandran spoke about being in the aerospace industry and in the area of space tech, space start-ups. “There is encouragement from all the stakeholders. There is a lot of support now. The support system has been slightly more focused on areas that are already successful as opposed to newer areas. A lot more support can be helpful. Every year, everything has been better," said Ravichandran.
People can start with being entrepreneurs before even completing college. Soft skills are taught in a way that can’t be learnt at any university or school. “Structured methods are required. Everything needs to be taught from a young age and students need to inculcate and receive a method of learning on these lines," added Ravichandran.
BW Businessworld organised a panel discussion on 'Making India more Enterprising: Beyond Shark Tank,' on January 26, 2022'. The eminent personalities from the industry expressed their thoughts and perspectives during the discussion. The event was moderated by Abhinav Trivedi – Managing Editor, BWTV & Digital, BW Businessworld.