Indian entrepreneurs could target growth of 20% y-o-y:TiE Summit 2011

by CXOtoday Staff    Mar 07, 2011

TIE Index‘It is wrongly believed that innovation is not an Indian phenomenon’; ‘Continue taking risk and overcoming fear of failure is required for innovation to happen’; ‘Being a market driven economy capital, people and talent will always be available’ ; ‘Do not get attached to your idea or emotional about it’… Noted industrialists and co-hosts- Kishore Biyani, Ajay Piramal and Narendra Murkumbi made these statements at TiE initiated Enterprising India Summit 2011- conference for entrepreneurs.

Enterprising India this year focuses on ‘inspiration’ and ‘action’. The event which is a platform to enable access to market, capital and mentors, attracted hundreds of entrepreneurs and business leaders from across India and globally.

Co-host Kishore Biyani, founder and group CEO, Future Group, introduced 3 enterprising Indians -Anshu Gupta from Goonj, Ashwin Mahesh from Bangalore Traffic and Sachin Bansal from Flipkart, on ‘Serving the Indian Consumer’ in the Made-in-India Session. Biyani stated, in order to build successful consumer focused businesses in India, entrepreneurs need to move away from income segmentation to community segmentation.

“While our iconic Co-hosts inspiring Made-in-India examples of Enterprising Indians, market Opportunities are being provided for other SMEs to expose their ideas, get funded and grow. Our aim this is to look beyond convention, go rural and look outside (Africa) at the same time,” remarked Manak Sing, TiE- Mumbai.

Addressing entrepreneurs in a GuruKul session, Ajay Piramal, chairman of Piramal Enterprises, emphasized that starts ups should aim to grow at about 20 percent year on year. He also stressed that to be a good entrepreneur one should overcome fear, have courage, taking decisions at the right time and always have a point of view.

Tie Trio

(L toR) Kishore Biyani, Narendra Murkumbi, Ajay Piramal at the opening ceremony of TiE Enterprising India 2011

Day one of the summit saw entrepreneurs make business presentations to attract equity and one-on-one interactions with banks to explore collateral free debt through CGTMSE and other debt options. Entrepreneurs could also make business plan pitches to Angels and VCs such as Seedfund, Sherpalol, SIDBI Ventures, Everstone Capital, among others.

In an exclusive gathering fifty young Children (12yrs to 17yrs), who have been seeded with enterprise though by TiE BizWorld program interacted with Roshan Abbas – film maker and entrepreneur himself.

ICICI Bank and KPMG, as founding supporters, are joined by Jaypee and Bombay Stock Exchange [BSE] along with many others from the entrepreneurial eco-system to extend support to TiE’s pan-India Enterprising India movement which aspires to impact at least 1 million Entrepreneurs across India.