The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

Premji: One Should Make Success Out of a Challenge

si Team
Monday, January 5, 2009
si Team
In the last one and half decades, India has rowed a long distance through a sea of turbulence to become one of the most favorable destinations of entrepreneurs across the world. Come what may, the spirit of Indian entrepreneurs was known to be holistic and unrelenting. This was proved right when over 2,000 big and small entrepreneurs marched off to Grand Ashoka, even in the backdrop of a slowing down economy, to share their ideas and thoughts on entrepreneurship at TiE Entrepreneurial Summit 2008.

"When a challenge is thrown at you, you should take it in such a way that it builds your spirit and you make a success of it. It is not the success or money that drives entrepreneurs. They direct themselves to an idea, which steers and leads them to success," said Azim Premji in his keynote address. According to Premji, opportunities do not wait. They are here today, but gone tomorrow. He urged the entrepreneurs to learn with modesty from those who are wiser than them.

Following Premji, Pradeep Kar, President, TiE Bangalore said, "India moved in 1991from the Nehruvian philosophy of the state being an entrepreneur to the idea of private entrepreneurship, resulting in accelerated industrial growth. Today, entrepreneurs are at the forefront of building a new India: An India that is prosperous, healthy, secure, peaceful, and continues on a sustainable growth path."
Several innovative business thoughts sprouted up in the sessions attended by leading brains in the industry. Addressing the 'Guru Talk' session, Kanwal Rekhi, Managing Director, Inventus Capital Partners indicated that India should make use of the crisis period in a positive way by making more business opportunities as cost of building a company has come down today. He added that the entrepreneur should be able to convince the venture capitalist that his or her company is doing things differently and can positively come up with innovative outputs.

A panel discussion on the second day of the event on microfinance kindled the hopes of the entrepreneurs who were reeling under the scarcity of adequate funds due to the trying economic situation. However a lot of much discussed concerns, including the high interest rate charged by Micro Finance Institutions (MFIs), were brushed aside in the discussion. According to one of the panelists Al Fernandez, Executive Director at an NGO called Myrada, "Microfinance cannot exclusively be linked to poverty. It should be linked to growth."

Even as people like the Nobel laureate Muhammad Yunus argue that microfinance institutions that charge more than 15 percent above their long-term operating costs should face penalties, it was a little paradoxical to witness the discussion taking shape in a way that suggested that only those who can afford may benefit from MFIs.

Share on Twitter
Share on LinkedIn
Share on facebook
Reader's comments(1)
My name is Sara .i saw your profile today and became intrested in you,i will also like to know you the more,and i want you to send an email to my email address so i can give you my picture for you to know whom i am.Here is my email address (saragp38@yahoo.com) believe we can move from here!I am waiting for your mail to my email address above.(Remeber the distance, colour or language does not matter but love matters alot in life.(saragp38@yahoo.com)
Posted by: sara lovesara garba - 13th Jun 2009
Messages posted on this Web site under the `Comments' area are solely the opinions of those who have posted them and do not necessarily reflect the opinions of Infoconnect Web Technologies India Pvt Ltd or its site www.siliconindia.com. Gossip, mud slinging and malicious attacks on individuals and organizations are strictly prohibited. Infoconnect Web Technologies India Pvt Ltd can not be held responsible for errors or omissions in content, nor for the authenticity of the user/company name or email addresses associated with posted messages. Infoconnect Web Technologies India Pvt Ltd reserves the right to edit or remove messages containing inappropriate language or any other material that could be construed as libelous, potentially libelous, or otherwise offensive or inappropriate.Infoconnect Web Technologies India Pvt Ltd do not endorse the products and services or any other offerings mentioned in these messages.