“We have to create a hospitable environment in the district where people are ready to take on business risks and challenges,” said R. Dinesh, Joint Managing Director, TVS and Sons limited.
He was addressing a round table dialogue session convened by the Confederation of Indian Industries (CII), in association with Nativelead Foundation and SAP Labs India. The session saw a number of panellists voice their opinions on how to develop entrepreneurship in the district. “Southern Tamil Nadu is no less in terms of entrepreneurial spirit when compared to the rest of the State. A lot can, however, be done to ensure that the academic curriculum nurtures entrepreneurship,” said K. Pandiarajan, Managing Director of the Ma Foi Group.
Speaking about a few successful entrepreneurs in recent times, Nagaraja Prakasam, Angel Investor and a member of Indian Angel Network, said young businessmen should look at problems at the local level and offer solutions to them through a business model. “There are world-renowned companies enjoying success after coming up with an effective solution to manage waste. Such local problems have to be identified and converted into a business opportunity,” he said.
Sundar Madakshira, Vice-President, Marketing and Communication, SAP Labs India, highlighted the need to market products effectively through the right channels. “Effective marketing contributes a lot to the success of a venture and a marketing strategy has to be devised to sustain the venture,” he said.
The need for mentors and the need to create powerful brands were stressed by Nativelead Foundation, a firm that mentors upcoming entrepreneurs.
“The solution to making the district a hub of entrepreneurship is to build and sustain an innovation-driven ecosystem,” stated Sivarajah Ramanathan, head of the foundation.