Published: 15th June 2018
How to build a great start-up? Four-member panel at TNIE's 40under40 Summit lays down what it takes to be at the top
The panel also answered some interesting questions from the gathering and gave insights on how one can lay a foundation to become a successful entrepreneur
A four-member panel of entrepreneurs started a dialogue on a range of concerns that start-ups currently face. The topic of discussion was ‘What it’s going to take for the Great Indian Start-up to be truly amazing?’ and the panel included Rama Iyer, Head of Corporate Innovation, T-Hub, Vikram Kailas, Managing Director, Mytrah Energy, R Chandra Vadhana, Founder, Prayaana and Praveen Dorna, Co-founder, Startup Byte. The members spoke at length on how the start-up ecosystem is ready to take a massive jump to be at the forefront.
“We’ve always been taught not to take risks. We are told to study engineering or pursue MBA and take up a standard job. But in other parts of the world, they are told to go find a problem, figure out a solution and if it doesn’t work, one can always do something else,” said Rama Iyer.
Finding the right skill and competency is a difficult job to get through, which automatically affects the start-ups
R Chandra Vadhana, Founder, Prayaana
While talking about why the start-ups in the country are failing, Vikram drew instances from his own experiences and said, “When we started the company there were a lot of people trying to do the same thing as we were doing. My learning from running a start-up is that start-up is not only about executing the idea. I think that idea is a great trigger and starting point but the journey is where a lot of people don’t make the right decisions which are imperative for a start-up to sustain in the long run.”
Making her point loud and clear, Chandra said, “Networking is something women entrepreneurs find difficult. In Kerala, we have a mindset that women entering into business is not the right thing to do. There is a societal and cultural taboo. When an entrepreneur lacks motivation, they will not be able to deliver their ideas. This is what needs to be addressed.”
Successful entrepreneurs as panelists: They started a dialogue on a range of concerns that start-ups in our country face
The panel also answered some interesting questions from the gathering and gave insights on how one can lay a foundation to become a successful entrepreneur.