IILM hosted its second Entrepreneurship Conference on December 4, 2015. The main focus of the conference was on the theme “Start Up India.” It’s a known fact that India, today, is an emerging economy that is destined to achieve milestones, on various fronts, in the near future. However, for India, to acquire the status of a “developed” nation, it needs to create 100 million jobs, statistics point out! Experts confirm, in an Endeavour to achieve this mark, tapping the potential of the unemployed and exploring opportunities in the employment market, so that each and every person plays a crucial role in contributing towards the development. The education system in the country should highlight the importance of entrepreneurship and also prepare students to start their own enterprises to generate wealth,.
The session started with the talk of the first speaker Dr. Ritesh Malik, Founder – Innov8 Creatives, Alive App and Mr. Sandeep Oberoi, General Manager, Philips Healthcare. Dr. Ritesh Malik highlighted that Entrepreneurship is about passion and perseverance and encouraged them never to give up even if the start up fails in the few initial attempts. Mr. Sandeep Oberoi stressed that it’s not just innovative ideas that bring success to an entrepreneur but also the commercial packaging of the ideas. He mentioned that entrepreneurial skills are inbuilt in a person and with proper support and initiative, one can become a successful entrepreneur.
The second session was about Innovation and Creation. Innovation and Creation are keys to successful organization. Creativity is the capability or act of conceiving something original or unusual. Innovation is the implementation of something new. Invention is the creation of something that has never been made before and is recognized as the product of some unique insight.This session also focused on Disruptive Innovation as a key to create new markets and stressed the point that Internet is assisting the culture of entrepreneurship as it reduces the entry barriers to the process. Ms. Sukhmani Bedi expressed that it’s more recycling of thoughts and ideas in India.
The third Session on “The Investor’s perspective to a startup, The speakers highlighted India at present being on the forefront on entrepreneurial roadmap. The panel members discussed the factors that are most important before making a decision to invest in a startup. They also shared their own experiences in starting their own enterprises. what problem they faced and also encourage the budding entrepreneur to take advantage of the various investment opportunities.
The last session was “The Startup’s Failure – A Roadmap to Success!”. This was the most interesting session it focused on the reasons responsible for startups failure and how devising a good strategy can be helpful in sustaining and scaling growth. Deliberations among the panelists focused on the reasons of failure and the resilience needed from entrepreneurs to sustain. Analyzing and implementing the correct strategy is the important task.
At last my learning from this conference was that the talks gave me clear insight about what entrepreneurship is and how can one go with it,what strategy should one .It is not at all a rocket science it just about being INNOVATIVE & CREATIVE, In Today’s era every organization need to be innovative and creative otherwise its survival in the market is very difficult. Our PM Mr. Narender Modi has also focused upon the startups in India. In his Independence Day speech, Modi had announced a new campaign ‘Startup India; Stand up India’ to promote bank financing for startups and offer incentives to boost entrepreneurship and job creation in the country.
IILM PGDM Student
Batch 2015 – 17