how was the journey of the indian enterpreneurs to run industries and getting back the internal and international markets
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Answer:
Start ups cannot operate in a vacuum, they need a supporting eco-system to nurture them. Entrepreneurs have been setting up businesses in India since kingdom come. It is no secret that these entrepreneurs have originated from a dominant caste. How did this community sustain entrepreneurship over the ages? By developing a sustainable eco-system that matched the needs of the traditional businesses.
The core of this eco-system is the incubation facility within the business that enabled the next generation entrepreneur to dabble in incremental innovation, funded by angel funding drawn from the surplus generated by the cash cow of the business. Prototypes were developed and test marketed through access to vendors and distributors and the sales force. Timely customer feedback on the prototype led to building the minimum viable product and the soft market launch. Business mentoring from the experienced elders substituted for any classroom learning.
The mind-set of the community was that business was a ‘dhandha’ , (living), requiring hands-on exposure which was more useful than classroom based ‘Higher Education’, that ‘jugaad’ (improvisation), substituted for frugal innovation, backed up by the belief that , no matter what business, profits could be extracted by the sleight-of-hand expertise of the chartered accountant.
Those from non-business communities lacked the vital eco-system for creating a start up. Education, particularly technical education, drew them as a means for joining ‘service’ and pursuing a rising career which they considered superior to dhandha.
The two professions ran their own divergent paths with their own benchmarks for success. So from the surnames, chances were, you could determine that Birla was, and Bhattacharya was not, in business.
However, the emergence of technology as the key driver of a venture and the consequent necessity of professional education for new venture creation has forever botched up the age old divergence in mindset. Leading the tech charge has been Information Technology which required the founding team to have computer science graduates. Imagine the doyen of IT entrepreneurs, Narayanamurthi laid out on a gaddi peering at the chaupadi to compute the daily P/L for Infosys! Moreover, these technology based new age businesses qualified as ventures and not dhandha in the minds of first generation entrepreneurs from the non-business community and so were acceptable.
Explanation:
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