BackNeed for national entrepreneurship policy: Kris Gopalakrishnan
Entrepreneurship has to be supported through central and state government policies and financial backing, says Gopalakrishnan
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Chennai: India now needs entrepreneurship by design, led by innovation and reinvention, and not out of necessity to make a living. Entrepreneurship has to be supported through central and state government policies and financial backing, according to Kris Gopalakrishnan, immediate past president of the Confederation of Indian Industry (CII) and former executive vice chairman of Infosys Ltd.
Entrepreneurship by design was to take innovation and create a business around it in a planned manner, he said while addressing Startupreneurs 2014, a conference-cum-exposition on entrepreneurship and start-ups, organised by CII. The local businesses, especially banks, have to be partners in this development process and provide seed capital and other necessary facilities. There should also be mentoring by the existing businesses through internship offers and skill development, he said
There should also be a national innovation and entrepreneurship policy. A beginning has been made by Kerala and Andhra Pradesh that have put up such a policy for feedback, said Gopalakrishnan.
The industry should look at academic institutions and translate research ideas into businesses and create wealth. Industries and start-ups need to think about new businesses and products not of replicating what was successful in other parts of the world, he added.
With the “Make in India" campaign and commitment by the central and state governments, it is the right time for entrepreneurs to think of making as many things as possible in India, said Lakshmi Narayanan, vice chairman of Cognizant Technology Solutions,.
The government has also committed large amount of money for promoting and supporting entrepreneurship. It was also proposed to create over 150 million skilled people in 8-10 years. “The macro situation for the promotion of entrepreneurship is right now’’, he said.
At the ground level, to be successful, the entrepreneurs need to understand what entrepreneurship was about, and how business is done, he said.
Arun Jain, chairman, Polaris Consulting and Services, suggested that the entrepreneurs meet regularly by creating a sustained forum. They could visit companies and also create a hub of diversified group of entrepreneurs who could be mentored by one of the successful entrepreneurs in each region.
The CII and Indian Overseas Bank signed a memorandum of understanding to promote start-ups in Chennai.
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