Tanya Krishna files a report about the presentations made at the seminar titled ‘The Great Entrepreneurial Vision India 2020: The Ecosystem for Building Innovative, Creative and Growth Focused Businesses’
Highlighting the startup ecosystem that presently exists in India, the session on ‘The Great Entrepreneurial Vision India 2020’ that will help build innovative, creative and growth-focused businesses in the country, was flagged off with Atul Chaturvedi, Additional Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, talking about various government policies and reforms brought in to facilitate innovations and the entrepreneurial spirit in the country.
Some of the facilitators provided by the government supporting the entrepreneurial spirit among the youth include 50% rebate on trademark filing fees and 80% rebate on PayTM filing fees; the new procurement law that does not require any prior experience and turnover criteria; funds to catalyse these investments; Income Tax exemptions to some extent, etc.
Being Innovative and Creative
Taking the discussion further, Mahesh Gupta, Chairman and MD, Kent RO Systems, talked about how innovative and creative growth is important for a business to survive in the long run. “The digital economy has totally changed. Products which were available earlier are no more relevant and new products have come into the market. A business, in order to survive after 10 years from now, will need to keep on changing with innovative products and offerings. Innovation will be the key. And one would require innovation in every part of the process, whether it is manufacturing, marketing, consumer selling, etc.,” he said. Gupta further maintained that these innovations should necessarily lead to the benefit of the society or they soon become meaningless.
Moving Forward
On how to prepare for the future of entrepreneurship, actor and entrepreneur Vivek Oberoi said, “The Indian entrepreneurial spirit is about getting things done and moving forward constantly. One of the things that encapsulate the spirit of entrepreneurship is finding the opportunity and getting on to it with actions.” Taking pride in Karrm Infrastructure Private Ltd., which provides high-quality affordable housing that is attractively designed, skillfully built, and well-managed, he maintains, “Our mission is to end housing insecurity within a generation. As a down payment on that goal, we will provide opportunity to 5,00,000 families by 2020 through quality affordable housing with connections to a good school, secure job, transit and health care,” he added.
With such endeavours off the ground, Oberoi talked about the relevance and need for social entrepreneurship and ultimately creating a brand name. Oberoi has been working successfully with Ichakdana Foods which is a convenience food company and Sattvik Foods which offers healthy snack options and has been on an expansion spree through franchising and other options.
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