Entrepreneurship is not always about IT

August 27, 2014 10:52 am | Updated 10:52 am IST - KOCHI

Innovative ideas received from youngsters competing for recognition at the maiden Young Entrepreneurs Summit (YES) to be held next month run roughshod over the popular myth that innovation and entrepreneurship is all about Information Technology (IT).

In a major surprise to Kerala State Industrial Development Corporation (KSIDC), the principal organisers of the summit, and the expert panel set up to adjudicate winners, of the total 174 entries received till the cut-off date of August 25, innovations related to IT came at an unenviable fourth place behind other less glamorous sectors.

While IT generated 19 innovative ideas, business innovation and electronics topped the chart with 40 entries each. Health and Life Sciences and agri and food processing sectors also scored over IT with 25 and 22 entries respectively. Only tourism with 17 entries and manufacturing sector with 11 ideas received less enthusiastic response than IT.

“The response was most surprising. We were expecting IT to dominate the competition field,” KSIDC managing director and Additional Chief Secretary Aruna Sundararajan told The Hindu .

The adjudication process is under way and the winners would be declared at YES to be held at Angamaly on September 12 — declared by the government as Entrepreneurs’ Day.

The top 3 innovations will be awarded Rs.1 lakh, Rs. 50,000 and Rs 30,000 respectively while the remaining 7 innovations will be awarded Rs.25, 000 each. Though recognition remains restricted to the top ten, all interesting ideas among the 174 will receive the attention and mentoring by agencies, including KSIDC and Startup Village.

With just over a fortnight left for the summit, preparations have hit top gear. Registrations for the summit have already touched 1,000 and organisers are expecting it to double in the days to come.

Interactive sessions between students and successful entrepreneurs being organised by the State government with the support of Confederation of Indian Industries and TIE as precursor to the summit have already been held at 50 out of the 75 targeted colleges.

The summit will feature sessions on seven crucial sectors with each session to be addressed by four speakers. Exhibition of products and services of successful start-ups will be another attraction.

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