Empowering Entrepreneurship- Building India!

Start up India program is one of the steps towards promoting entrepreneurship and self-reliance amongst the selective Indian population in cities.

Is it really driving innovative solutions and creating employment? If not, what is missing?

What can boost employment under the aegis of the flagship programs of Indian Government?

Today Need of the hour is to create environment for more job creators rather than job seekers.

India has the third largest number of start-ups globally. IESA (Indian Electronics and Semiconductor Association) applauds the government on being a facilitator to build the startup nation.

An innovation partnership is essential for identifying scale able and innovative solutions. Provision of mentoring, seed capital, network to market and funding is absolutely essential to replicate success stories. Mentoring of start up entrepreneurs by experienced professionals/experts replenishes the missing elements in a budding entrepreneur.

A good mentor helps you think through a business idea, suggests ways to generate that startup capital and provides the experience that you’re missing out on. You’ll get praise when you deserve it and a heads-up when trouble comes -- probably long before you would have noticed it yourself.

A mentor hand holds them to set up a profitable business with cluster approach in the target market. This becomes one of the major ingredients for success of building strong foundation to scale up. Innovation depends on Leadership enabled by technology. Marriage of practical business experience with youthful dynamism can increase chance of success.

It is extremely important to focus on customer led innovations. Many solutions are found by line function managers who have solid experience. However they are highly focused on their day to day operations and are not willing to think outside the box for creative solutions. If we help in creating 'win-win' partnerships between young energetic entrepreneurs and promoters of traditional businesses to establish innovative products & solutions, multiple Go To Market models and Strategic Client Ventures it will to a larger area of growth and expansion.

To establish a successful win-win partnership one needs to look for individuals who have value similar value system and a similar vision.

Many innovators and inventors in India believe that their invention is unique and globally competitive. This may not be true in many cases. There is no need to re- invent the wheel. There are many great products and solutions which can be localised in India. It is better to explore technology collaboration and launch them with 'win-win' partnership models.

The ability for an entrepreneur to start a strategic partnership (whether it is a business partnership, a joint venture or a short-term alliance) is critical for continued financial success in an ever-changing and highly competitive business environment.

While it is a great idea to start new venture, we are ignoring that there are thousands of SME's in India which can generate employment if they can get guidance by Mentors/Experts to think differently and focus on Global competitive positioning in order to sustain long term profitability. Sales turnover is not important - but value add unique positioning on global level is critical.
We also should look at establishing more than one lakh small scale/cottage industries to create employment at the grass root level. Many social innovations are available that can create inclusive employment and empowerment to under- employed/ unemployed population.