The Tie Entrepreneurial Summit 2007

[nitinpahuja]

The Indus Entrepreneur Summit 2007 was hosted by the ravishing TAJ PALACE New Delhi, between the 11-13 Dec, 2007 and the event saw all the bigwigs of the Indian & international entrepreneurial terrain converge to share the stage of this magnificent occasion for the budding Entrepreneurs. The event proved to be a resounding success with big names from the corporate world and the government sharing their opinions and experiences with an intriguing crowd. Different sessions designed to cater to the different needs of the budding entrepreneurs and the TIE fraternity on the whole were received amidst great anticipation and excitement.
The event was graced by the presence of eminent guests like Dr Kamal Nath and Mr P. Chidambaram from the government of India who accentuated the importance of entrepreneurs in the growth of the Indian ad global economy. The intriguing sessions on the other hand featured industry experts and successful entrepreneurs who shared their experiences with the inquisitive audience. The sessions dealing with start ups and GURU Speak were appreciated immensely. For a snapshot of some featured sessions

[Richasaraf]

hi can u provide me with more details of the summit...

[thebigbull]

yes...some more information would surely help

[kunalsd]

Hi,

can u tell me when will this event will happen in Mumbai. I am interested in attending such event.

[kartik]

Hi,

can u tell me when will this event will happen in Mumbai. I am interested in attending such event.

You will be informed kunalsd . Keep a track of the MP mails. Also you can visit TiE at www.tiesummit.org

[kartik]

Entrepreneurship is the fututre......

"Two roads diverged in the woods;

and i took the one less travelled...........that has made all the difference.."

- Robert Frost

To all those who admire the Wealth of Bill Gates, founder, Microsoft, the Enigma of Steve Jobs, the Timeliness of Warren Buffet, this might just speel a nirvana for you in the comming paras'

With India climbing on the growth indices, crunching on the mind boggling investments, expectations have reached their zenith. Never before did we witness such a scenario wherein people are unitedly acting towards the growth engine rather than just being a passive audience.

Ours has been a country where every second person has been concerned about India taking over China or optimistically concerned about the stock market
bubble"

"Till Date, we enjoyed Political Freedom, time will come when we will have econmic freedom....."

But then still we are posed with Numerous Questions.......Initiatives like Lead India are still grappling with the people's presence.......India Poised campaigns rather go unnoticed......no we are not advocating the media....but rather the message....

Solution is still a distant and myriad dream....but have methods....and one of them simply is "Start"..... (Entrepreneurship)..

"You must be the change you want to see in the world......Mahatma Gandhi".

Entrepreneurship....

It is clear that entrepreneurs can transform societies by adding economic dynamism, setting them on their way to increasing prosperity. It is also very clear that the same entrepreneurs are the only source of new wealth and productive jobs in the society...hence the effective step was going a step further....

To have a microscopic learning, we joined hands with TIE...the school of entrepreneurs hosted in the Capital getting entrepreneurs from all the walks of country be it IT, or Consultancy etc. the event is more or less like MP...where people come...they discuss....interact....but here the difference being that of Entrepreneurs......

Held from 11th- 13th of this month....this event simply raised the learning experiences...as we saw, met people who started way before we were born....the following are the events that unfolded.....sit back...read and feel inspired...

[kartik]

Session 1:
The summit was inaugurated by Hon. Montek Singh Ahluwalia, Deputy Chairman of Planning Commission, wherein he addressed the grave and desperate need for Entrepreneurship, in the country like India. Concerned about the Growth indices, he said that the only panacea to have a few more entrepreneurs, which can improve the country a lot better.

Mr. Ahluwalia also stressed on bare basics of education to send the right messages, assuring that Govt. spending will and has to increase from 7 % in past to the tune of 20-22% . That was phenomenal and to some…..the right start of the summit. After all somewhere in the hearts of heart we all believe: every child is special: Taare Zameen Par......

The atmosphere was nothing less than inspiring as this was not even near to a political speech....rather Mr. Ahluwalia was playing a friend or a person concerned about what the future has in store....no mean achievement.

[kartik]

Session 2:
The Next Programme on board was Investment Eco-System, where the bench consisted of prominent people like
ØMr.Rahul Bhasin, Managing partner, Baring Pvt. Equity Partner
ØDeepak Kamra, General Partner, Canaan Partners.They are prime investors in Acme Packet, Allbusiness.com, Bahrat MAtrimony, Concord Communication, Double Click, Iprint.com, Latitude Communications etc
ØR.M. Malla Chairman and MD , SIDBI
ØRaman Roy, MD, Quattro. Considered widely as the Father of the Inidian BPO Industry. Has been working in the Industry for past 16 years.
ØSandeep Ghosh, MD and Head Global Commercial Banking, CITI India
ØAlok Mittal, MD Canaan Partners


The session mainly focused on spreading the awareness about the possible bottlenecks that an entrepreneur undergoes.
It might be ranging from Grave Issue like Financing to more Graves like Economics of Dollar Rupee Parity or Technological Dilemma.

Raman Roy especially highlighted the fact of having a Right Team Mix when starting up. Even a good idea can go haywire if the right people are not working on it. But Mr. Roy was pretty candid and could not help addressing the problem of financing by saying..: “of the 5 people present on the bench, 4 are there to sign the cheques”

Although the statement was in humorous form, it did highlight the crux that Venture Capitalist are not for Charity, Either Sell Your Ideas or Fail. Thats how a Society will Progress.

Eventually the Session Highlights were the following Points:

1) It is that Difficult to Start the Business when you really want to.
2) When Hiring somebody, don’t visualize beyond a year. And Create a right team of People. VC’s like to get involved in the project rather that get money involved.
3) Look for the previous streaks of excellence doesn’t have to be necessarily academic.
4) Lastly, be result oriented, value oriented, innovative, generalist, risk taking, persistent, efficient, competitive, and opportunistic. Etc.
5) There will be tough times to handle, but then that's what entrepreneurship is all about, one of the fact shared here was that Infosys, when it was just about to start, was given an approval of the feasibility report by a Renowned bank, and the lending arm of the same bank thought other wise and did not lend to Infy. as the result they has generate from personal sources.

Learning from the session was enormous as it opened the gate as to what the Industry people are looking at and what do they want.

Moral of the Story : We have a lot to Learn.

[kartik]

Session 2: Investment Trends in Technology:

Bench :
ØPradeep Kar, Founder, Chairman and MD, Microland. Serial Entrepreneur founded Planetasia, First professional services company, Indya.com, net brahma.
ØVispi Daver: Partner, Sierra Ventures. Company has $1.5 bn under management and has been is existence for last 25 years.
ØKalpana Jain: Senior Director- Financial advisory services, Deliotte.
ØJai Das, Partner, SAP Ventures. Focuses on the Open Source and Digital Media Investment opportunities in the US.
ØUday Challu - Co- Founder and CEO, IYogi. Direct to consumer business which provides computer support via phone and remote access for home and small businesses users .
ØAnish Tripathi. Chief Knowledge Officer, KPMG
ØDan Sandhu, Chairman, Vertex India

This Session basically involved an active interaction on the Technological Aspect which the businesses require. The bench saw an immense potential of using SAP Based products for SME or Businesses by designs. That also means that companies trying for new products or for emerging markets can have their logistics, supply chain and even in mobile technology.

The Bench was also convinced that India, China and US together comprised a plethora of opportunities and particularly portals like Jobsites and Matrimony offer a great scope.

However there was also stress laid on Mobility and Flexibility of such systems.

An important stat which came out in this session was that only 1 in 10 start ups usually lasts in the first 12 months, of the survivors, perhaps only 1 in 10 start ups usually last the nest 12 months. Hence all in all, 1 in 100 usually do well thereafter unless they too become complacent or really goof up.