FICCI- TiE Silicon Valley Startup Leaders Meet at New Delhi

It was quite momentous event organised by  FICCI on 15 Jan 2016 in New Delhi prior to startup policy to be launched by honorable Prime minister of India. There were prominent names available to fillip the event simply by their presence. In trailing paragraph, I would like to mention some of the personalities who delivered key note address by giving insight to startups on that occasion.

Mr. Ullas Kamath, Joint MD of Jyothi Laboratories mentioned that he is going to reserve 10,000 sq ft area in Bangaluru to give space only to startups. Jyothi Labs which employs 70%  women work force keeping in mind the women empowerment and rural development is very enthusiastic to see the vibrant & conducive economic atmosphere in the country where every state in India is in competition now to welcome new idea/business to grow. This atmosphere was never seen or felt before.  Mr. Kamath also emphasized  the reasons why most of the startup fails or don't succeed. Some of the reasons he mentioned included expectations of employee, Expectations of Financiers and missing the hand holding attitude after some time. 

Mr. HK Mittal (Adviser to Government of India and IIMA Alumani) focused on the changing perceptions and attitude of the people towards startups. "Startup were seen as myth earlier   whereas now it is celebration," was his key indication. He also highlighted that all Indian Students come out with some medal whosoever participated in International Science Olympiad in last 20 years. This indicated the value of of available intelligence in India and so its worth. Now the time has come to exchange that knowledge and the potentials.

Mr. George Sibley (Minister- Counselor for EEST, US Embassy, New Delhi), shared the example of cricket & base ball.He said India loves cricket and so once the player out, he is out for ever  and in business too the same rule was applied. But in USA people has possible chance to return in game even after 5-6 chances like in base ball. But he sees the Indian are now accepting the baseball rules and people accept failure equally as they accept success. This is very positive sign for revival and startups.He also highlighted the high risk involved with possibility of very high returns but requires free access to funding for better growth. Intellectual Property Right (IPR) is Key necessity to protect the startup from keeping up the edge and growth potential, he said.

Mr. Kanwal Rekhi(MD- Rand corporation), highlighted the need for revolution in IT and Telecom sectors with multiple chances of innovation and growth.

Mr. Pratyus Patnaik (Founder- Pratus-Pixel photography), mentioned about the 50 % youth available under 25 years of age as great  human resources in India. He advised to look for international and Domestic market but need to keep walking on the chosen path.

Mr. Nimish Mehta( CEO & Co-founder - Lumen data), mentioned the vibrant mood in India about the startups now. Startups has now very positive mood & enthusiastic to start the journey. He high lighted creating quality product and entity which is something real to retain the trust of customer and founder. He also advised not to run behind the cheques and resume but chase the value and quality as your initial assets. He mentioned how the Silicon Valley celebrates the  FAILURES also and it is widely accepted. The time has come for India too for same acceptance. Needless to say, he said about leaving comforts and be ready for the challenges ahead to meet the Startups need.

They also highlighted the common questions asked by Startups in all meets:-

1. How to start and scale up ?
2. How to recruit & Retain Talent ?
3. How to make our own brands ?
4. How to raise fund for further developments ?

The meeting was very informative and channelizing for the hidden energy in Startups. The interactive session was shorter due to time constrains but overall a better initiative by FICCI for morale boosting of the Startups.

Hope I could represent the top views of Silicon Valley which might be helpful in channelizing the vibrant Startups with real boosting up already done by honorable PM Mr. Narendra Modi on 16th Jan 2016.

Wishing you all very good luck in your endeavor to succeed as a STARTUP.