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Showing posts with label Entrepreneurship. Show all posts
Showing posts with label Entrepreneurship. Show all posts

Friday, November 11, 2022

Helping hand

 Hundreds of women self-help groups are transitioning into micro or small social enterprises in an antagonistic market economy, providing a national template with umpteen possibilities.


About two decades ago, V. Malleshwaramma, a woman farmer in her mid-forties with a small farm, would double up as a footloose labourer. Today, she heads an all-women, organic farmers’ company with 250 shareholders in Andhra Pradesh’s Kadapa district, aggregating and processing an array of pesticide-free farm produce — from ragi to paddy to perishables — and sending it to big cities like Hyderabad. What began as a self-help group running on a thrift fund grew in size and transitioned into a robust collective after relentless hard work, training and exposure. The group is part of a growing social enterprise, Sahaja Aharam, which is a federation of 60 collectives and producer companies with nearly 10,000 farmers scattered over Andhra and Telangana.

Cut to Balangir, western Odisha’s once-impoverished and out-migration district: Hundreds of women members of self-help groups are running micro, small and big enterprises as part of the state’s Mission Shakti initiative, a convergence of rural livelihoods missions. A women’s empowerment programme that began in 2001 is now a separate state department with the government outsourcing its services and goods to the women SHGs across Odisha, enrolling nearly 8.5 million women members. In Balangir, the SHGs now provide an array of services and run multiple enterprises — from a running cafeteria to managing a government-run guest house to producing mid-day meals to operating a roaring handloom unit to agro-allied activities, transforming groups that were once mere thrift fund managers into social enterprises.

Women there are also handling the urban waste management — from doorstep garbage collection to production of compost to selling it in the open market. Travel to Kerala, and you’ll be astonished to see the quiet but incredible work that goes on in the Kudumbashree collective, a Kerala initiative for women’s empowerment and poverty alleviation. Women members of Kudumbashree make a steady income from multifaceted activities; they run micro or individual enterprises, or collective businesses with sustainability at their core. In Kerala, women’s neighbourhood groups are building eco-housing and setting up examples in construction.

In Osmanabad, Maharashtra, a 10-year-old self-help group formed by single women has recently graduated into a producers’ company, taking baby steps into a world of cut-throat competition. Vrundavani Patil, the president, lost her husband 10 years ago and set up a group to support single women, from which sprouted this company. She told me that her company can’t be seen as merely an economic enterprise but one that has social responsibilities. It lends support to single women and tries to create economic opportunities that are otherwise hard to come by.

A quiet, if arduous, transformation is happening across India. Hundreds of women SHGs are transitioning into micro or small social enterprises in an antagonistic market economy, providing a national template with umpteen possibilities. The movement is still in its infancy nearly 25 years since SHGs became a serious programmatic imperative. Most of these groups aren’t productive or income-generating. At the last count, about 80 million women are part of SHG networks in India. The problem is that most groups have no access to capital to achieve scale and growth and a level playing field to compete in unfair terrain.

Investing in them should be a national priority; it will yield a bumper socio-economic harvest, as many productive SHGs are demonstrating. India needs a carefully crafted plan for the next three to four decades to make the women SHGs that are part of the national or state rural or urban livelihood missions productive and sustainable. That would usher us into a real double-engine economy.

Jaideep Hardikar

Source: The Telegraph, 11/11/22

Thursday, November 10, 2022

Insider tips to build a successful startup from scratch: A guide for entrepreneurs

 In the contemporary world, initiating a business requires minute in-depth understanding and knowledge of many subjects, which also includes legal, sales, financial, marketing, liability protection, intellectual property protection, and human resources. However, if entrepreneurship is something that interests you then there are also stories of incredible success of early stage startups which have turned into multi-billion dollar organisations such as Uber, Facebook, WhatsApp, and Airbnb. To understand the entire process of investing and building a big business right from scratch, our start-up expert Ravi Ranjan shares his insights on what an entrepreneurial mindset should look like.

1. Is there anything called a startup mindset? If yes, what are few of the elements of those?

I think the fundamental of having a career as a founder is realising that it's not the first time that there are startups coming up in India or anywhere. There have been businesses around us for thousands of years. But, I believe that there are fundamentally two reasons as to why startups have become a movement in recent times. Firstly, we have a very large population who are currently online. This means that organisations now have an opportunity to discover their audience very fast. Lastly, another difference between a business and a startup is that the latter can scale up very fast. So, for a young student who is just about to start their career, a keen observation of how the ecosystem is evolving might be of great help. I believe in a class full of students there are always some students who will have an interest in talking about technology, AI, crypto or something like that. These are the people who have leadership qualities and the entrepreneurship mindset to take it further. However, people who have a traditional mindset and wish to become an entrepreneur need to start figuring out these trends to develop an entrepreneurial mindset.

2. You mentioned, it is very easy for a startup to scale up and grow into a big business but in the past there have been instances where a startup has faced challenges or even closed down. What are your views on that?

I strongly believe that it is not just with startups but with everything in life, be it going to a college or managing a family, one can fail in anything. But how one deals with it depends upon how mature they are as a person or what capabilities they have to move ahead in life. There are challenges everywhere but the reward is also extremely high once you take risks. One of the biggest advantages of building a startup is that you will never fail but always end up learning as to how things work. If one looks at some of the big businesses in the world, it's not their first attempt; the founders always had 2-3 companies in the past that did not work out. Not everyone becomes successful in the first go and entrepreneurship is not for the faint hearted. I believe young students need to understand that every disappointment is going to train you on how to not give up. Young entrepreneurs need to be 5 times more courageous than their friends and peers.

3. What are some of the reasons an organisation fails?

I feel there are three fundamental reasons as to why an organisation fails. To avoid the same, before they start, students must do enough research. Secondly, they also need to analyse and understand whether their business needs funding immediately or can they manage without funding for a certain period of time. Lastly, they should have the expertise as to how to exactly scale a business. For example, if an entrepreneur is starting a small startup in Kolkata–is he or she able to scale the business to multiple cities? If not they are not going to be successful.

4. Do you think young students should worry about having a safety net when they are eventually starting on their own or they should be fully focused on what they are doing?

As an individual I feel different people have different challenges. In the case of some students their family expects them to start earning as soon as they finish their college. For them I feel they should not be giving time to a startup without having a safety net. On the other hand, 90% of students are also not in that category and they can absolutely take risks for the first few years. I believe that if one really wants to be successful they should have zero backup plans. They should be 100% focused on the startup they are building and in some cases, students should also take the initiative of starting from the second or third year of the college itself so that by the time they finish college, they would either have a successful company or a lot of experience to hold upon. Eventually there is nothing to lose as a young student as they only end up learning.

5. Do you think a business can be started with zero funds?

Yes, there are businesses that can be initiated with zero external funding. Though this is true for about 60% of all businesses today. For instance, one of the very successful organisations today, Zoho, was started without any external funding.

6. What are some other insights you can share with young professionals who are looking to start a business?

One of the most important things is that they must understand the market they are going to target. For instance, if they are building something on web3 or metaverse, they must understand the market well. Here, I don’t mean that they must be an expert, but at least they must know how big the market is and at the same time they must also have a few members in their team who compliment their skills.

7. What are some of the non negotiable things which a young student must consider before beginning a business?

I think the most crucial thing to bear in mind before beginning a business is that nobody should start a business just because there is funding available. A startup venture should be initiated to solve a problem. If a business is solving a problem right from its initial days then it is good to go and if not then it is totally non negotiable. Furthermore, a young student should also make it a point to be ethical and have the utmost integrity without compromising on it. Lastly, not bringing your 100% to the table when working on a startup is also a non negotiable quality.

8. How can a young student make it easier for themselves to approach someone for funds?

India has more than ten thousand angel investors in the current time, clearly indicating that our country has the best opportunities for people to invest in the present period and future as well. Students today have the option to raise money from the government, angel investors, private equities, grants, business plan competitions and many more. I believe a young student can make it easier for themselves by preparing a list of top investors via researching on the internet as everything is available for free, and then start reaching out to them on Linkedin and meeting them at different events. Initially a young student should speak more about their ideas rather than pushing the prospective investors to put money on their business. I believe by following these steps a student can get an investor interested in their business idea.

A startup ecosystem uplifts the future of any country. It is often seen that a small company with big ideas turns out to be more innovative when weighed against a lot of big companies and as our expert Ravi Ranjan says, if you are ethical, have integrity and are looking to solve a problem in the long term, you are good to go.

 

Source: Nancy Jaiswal

Telegraph India, 8/11/22

Thursday, December 16, 2021

IIT Dropout Series: Jharkhand boy left IIT-Delhi for own startup, now runs a Rs 750-crore company with global partnerships

 Ankit Prasad made it to the list of Forbes 30 under 30 in 2018 and has also been recognised in the Business World magazine’s 40 Under 40 list.


Ankit Prasad from Chaibasa — a small town in Jharkhand – always wanted to be an entrepreneur. Whenever a relative would ask him the usual question, “What would you become once you grow up?” Ankit always replied, “Bill Gates”.

Computers always fascinated him and he was fortunate enough to have a visionary father, who got the first computer in Chaibasa in 1995 and Ankit became part of the tech revolution started by Gates.

Around the same time, the Prasad family soon moved to Jamshedpur after Ankit’s father, Ranjit Prasad, got a job as geology professor at NIT Jamshedpur. Both Ankit and his two-year elder brother, Rahul completed their primary schooling at Saraswati Vidya Mandir in Chaibasa. The duo did not get to learn English alphabets until they joined DAV School at NIT Jamshedpur.

“Adapting to a new language was proving to be more difficult than expected. All the subjects that required English proficiency started to scare me and that’s when mathematics became my best friend. It required nominal understanding of the sentence, which made me feel very comfortable,” said the 30-year old.

Since childhood, the brothers have been interested in computers. Since the age of six, Ankit has been deeply fascinated by coding. They both started with web design in 2005 and founded a small company that designed websites for local restaurants, service providers and hotels. The small scale business soon picked up and started generating profits.

In 2005, the average boy surprised everyone by achieving a spot in the school’s top 3 scorers in class 10 board result. As the normal social convention goes, he too was fascinated by the IITs. “I realised people’s obsession with IIT and the definition of success that follows,” said Ankit.

He joined a coaching centre in Jamshedpur to prepare for the IIT entrance exam. Throughout childhood, Ankit suffered from hyper myopia and had the eyesight of -18 and -19. It was only in 2017 he got normal vision after a surgery. He could not see what coaching teachers were writing on the board and the huge class sizes bugged him. “Our website business supported me with the coaching expenses but I was not enjoying the process,” he said.

After spending a year in the “pressure cooker”, he finally left to prepare on his own. In 2007, he appeared for the entrance exam and achieved a rank above 5000, which could not get him into an IIT but allowed him to secure a seat at NIT Jamshedpur. He took admission but still wanted to join an IIT.

“My brother wanted to pursue an undergraduate degree at IIT but he could not get in. My parents had high hopes for me but my first attempt did not go as planned. Hence, I gave it another shot and got AIR 400,” said Ankit, who then joined IIT Delhi for an integrated MTech in Mathematics and Computing in 2008.After joining IIT Delhi, he continued with his business. Soon, the business expanded and he started earning steadily. Through 2009-10, he worked with multiple startups. “I was in college but was already working to get good money. Adhering to professional deadlines started hampering my classes, but I enjoyed my work as opposed to the theoretical research-driven curriculum being taught in the engineering classes,” said Ankit.

The success of Flipkart, Snapdeal and Zomato motivated Ankit and he created Touch Talent from the hostel room in 2012 with his brother. It is a web-based global community that allows users to display, share, appreciate and monetize art and design. During the same time, he started attending lesser classes and could not appear for semester exams. That’s when he decided to pull off a full-time career instead of an engineering degree.

However, he wanted to tap into the growing smartphone industry and in 2015 founded ‘Bobble AI’ which created ‘Bobble Indic’ keyboard. Around 120 languages from around the world, as well as 37 Indian languages, are assisted by the keyboard. Bobble AI’s valuation was recorded to be over 500 crores in 2020The app makes stickers, GIFs, emojis among other graphics to make texting more expressive and visual. The app now has more than 65 million users and partnerships with global smartphone companies such as XiaomiGioneePanasonic and Lava among many others in South Africa, Pakistan, Turkey and Europe.

“People made fun of me when I used to call myself a CEO of my small company at the age of 21. I took the path less travelled and most of my relatives did not get it. However, my parents’ openness allowed me to make my own decisions,” said Ankit.

He made it to the list of Forbes 30 under 30 in 2018 and that’s when “people’s perception changed” towards him. “It was my first recognition and it instilled confidence of being on the right path,” Ankit said. Besides, he has also been recognised in the Business World magazine’s 40 Under 40 list.

“Even today, my mother does not understand what I do or how much revenue does the company generate, but she uses my interactive keyboard to interact with everyone and that feels great,” said the IIT Delhi dropout., which increased to more than 750 crores in the third quarter of 2021.

Written by Sheetal Banchariya

Source: Indian Express, 16/12/21



Tuesday, November 30, 2021

It’s all in the mind: Transforming from cost leaders to thought leaders

 Let me explain. I was born a decade before India liberalized. While I was spared the acute insecurities of our parents’ generation which grew in a newly independent, socialist India, I have had my share. My first time abroad in the late 1990s was eye-opening: sleek air-conditioned taxis instead of rickety Ambassadors, comfortable public transport instead of tin boxes, pothole-free roads where vehicles followed lanes and traffic rules.Subsequently, the engineering college I went to resembled an international departure lounge. Not going abroad was considered a mark of lower calibre.

This trend continued when I started working. In one international consulting firm, I was sent to Sweden to identify “low-end" work that could be done in India. Ironically, the consultants doing this work were from the most competitive colleges in the world. I know someone who ranked in the teens in IIT-JEE and was being used by a similar international firm to provide back-end valuation support. India-based consultants, no matter how capable, were meant to deliver non-core, low-end work cheap, and increase project margins. This business model is now leveraged by almost all international consulting firms.

A familiar story

Similarly, India’s enduring success story, the IT services industry, is built predominantly around this cost-leadership framework. Clients are willing to pay a substantial premium for foreign firms compared to their Indian counterparts, though both get most of their work done in India, often leveraging the same talent pool.

It is the same in management consulting. As we build an India-bred global consulting firm, we get regularly raided by international majors for talent. The same consultants are then deployed at twice or thrice the rate (sometimes, ironically, to the same client). This rate jumps to five or six times when the same consultant relocates abroad. Effectively, clients are willing to spend five to six times on the same consultant based on the brand and location.

This creates a vicious cycle. Clients expect Indian firms to be cheap, irrespective of the quality of work. Indian firms find it easy to sell at lower costs, even when the quality is world-class. As we try to sell globally, based on the quality of our work rather than cost, we are experiencing the systemic challenges this vicious cycle creates for India-bred firms.

Fortunately, things are changing. In the past five years, I have landed at foreign airports and overheard comments on how Indian airports are much better. Forward-thinking global infrastructure companies prefer to be in India, given its evolved public-private partnership framework. One of our Japanese clients recently acquired an Indian technology firm to access its offerings and leadership, not cheap engineers. Our SaaS (software-as-a-service) companies are competing effectively with their global counterparts. India’s digital payment infrastructure is world-class, as is its ability to deliver social services through technology (think Co-Win.) India is attracting an unprecedented amount of venture capital that is transforming our startup ecosystem. Today, in India’s top campuses, students aspire for product management roles in startups, not go abroad.

A new business model

While jingoistic claims of general superiority are self-defeating, the fact is that India now has enough instances where it is world-class. We need to identify these areas and take our expertise to the world and charge top dollars for it. Covid-19 has ensured that clients are now willing to pay for talent and quality, not location or brand. This is our chance to transition our business models from cost to thought leadership.

Unfortunately, mindsets require much longer to change than political or economic realities. It is difficult to pivot from decades of competing on price to winning based on quality. Repositioning Indian services companies as thought leaders will require firm commitment, consistent messaging, sustained advocacy and, most importantly, a deep conviction that we can win by adding world-class value, not just by being cheap.

India’s evolution from cost to thought leadership needs to start in our minds. And quickly.

Abhisek Mukherjee is co-founder and director, Auctus Advisors.

Source: Mintepaper, 29/11/21

Friday, October 29, 2021

The three acts of entrepreneurship that accelerated India’s start-up ecosystem

 

India’s startup ecosystem is radically breaking from its past in company valuations, unicorn numbers, funding round sizes, foreign interest, and growth. What’s going on? Historians suggest caution with origin stories — every theory just points to an earlier beginning. But we believe three acts of entrepreneurship from five years ago — Jio, UPI, and GST — have converged to accelerate our startup ecosystem. We also make the case that this triad of private, nonprofit, and government courage demonstrates the economic upsides of a better balance between the three sectors.

The Harvard economist Ricardo Hausmann suggests economic development is like a game of scrabble. Goods and services are made by stringing together productive capabilities — inputs, technologies, and tasks — just as words are made by putting letters together. Countries with a greater variety of capabilities can make more diverse and complex goods, just as a scrabble player who has more letters can generate more and longer words. If a country lacks a letter, it cannot make the words that use it. Moreover, the more letters a country has, the greater the number of uses it can find for any additional letter acquired. In Hausmann’s framing, the government provides the vowels and the private sector provides the consonants. The 1955 Avadi resolution poisoned India’s economic scrabble by restricting constants and shrinking the state’s resources to provide vowels. Our triad provides new letters and vowels that enable entrepreneurs to create newer and longer words. Let’s look at each in more detail:

JIO: India’s per GB internet data costs are just 3 per cent of those in the US. A bold and risky $35 billion bet made by a private company transformed Indians from being data deprived to data-rich; consumption has jumped 15 times because costs fell by over 90 per cent. The addition of millions of consumers and smartphones since Jio’s delightful five-year disruption of the market has exploded the most important universal metric in startup valuation — addressable market. Most Indians toil in low productivity and self-exploitation. Affordable digital connectivity is transforming 75 crore of them into consumers, entrepreneurs, employees, and suppliers.

UPI: Google’s letter to the US Federal Reserve suggesting America learn from India’s Universal Payments Interface (UPI) run by the remarkable nonprofit — National Payment Corporation of India — acknowledged that our real-time, low-cost, open-architecture payment plumbing is a public good. UPI’s mobile-first architecture is a key pillar of the paperless, presenceless, and cashless framework of the Aadhaar-seeded India Stack. UPI’s current four billion transactions a month — it will soon reach a billion a day — greatly reduces friction and costs for entrepreneurs and consumers in low-value payments. Remember the inefficiency and low reliability of cash-on-delivery?

GST: India’s economic tragedy began with the second five-year plan in 1956, leading entrepreneurs to conclude that the benefits of formality were lower than the costs. This informality bred corruption; transmission losses between how the law was written, interpreted, practiced, and enforced. More painfully, informality bred low-productivity enterprises with low-paying jobs, whose business model of regulatory arbitrage and tax evasion made formal enterprises uncompetitive. GST attacked complexity and incentivised law-abiding supply and distribution chains. It was long in the making but going live needed the risk-taking of starting with a second-best architecture, accepting some unjustifiable rates, and state revenue guarantees. The doubling of indirect tax registered enterprises since GST creates a virtuous economic cycle of higher total factor productivity for enterprises and employees.

India now has the highest ratio of unlisted to listed companies with a $1 billion valuation, suggests Neelkanth Mishra of Credit Suisse (a unicorn was born every 10 days this year). Initial public offering documents filed by early startups like Nykaa, Paytm, Zomato and PolicyBazaar roughly average a 10x valuation rise since the triad went live. Estimates suggest India’s startup ecosystem valuation will explode from $315 billion today to $1 trillion by 2025. An unintended delightful upside of Rs 2 lakh crore startup fundraising in 2021 is the mass diversion of high-quality young human capital from wage employment to job creation.

Humanity will never resolve the debate whether history is a social science or literature. The social science camp of Karl Marx believes circumstances are paramount and history makes people. But the literature camp of Carlyle believes people make history. As entrepreneurs, we would go crazy if we didn’t believe in the ability of individuals to give the push that history sometimes needs. Of course, the triad’s success needed talented civil servants, central bankers, foreign partners, committees, technology, and managers. But we believe the triad wouldn’t have happened in time for India@75 if Prime Minister Narendra Modi, Mukesh Ambani, and Nandan Nilekani hadn’t provided conviction, persistence, and strategy.

English’s 26 letters — 21 consonants and five vowels — enable creating roughly two lakh dictionary words and 10 lakh usage words. Framing development as scrabble has much to teach the post-1947 economic policy; our 6.3 crore enterprises only translate to 23,000 companies with a paid-up capital of more than Rs 10 crore because consonants were restricted and vowels were misclassified or missing. The wonderful recent ghar wapasi of Air India is just the start of righting the historical wrong of misclassifying many private consonants as government vowels. A government does more when it does less.

In the third decade of the third millennium, one of India’s opportunities is China’s ongoing corrosion of Deng Xiaoping’s economic miracle built on a healthy balance between the state, entrepreneurs, and foreigners. Our mass prosperity after Independence was sabotaged by an imbalance between private, nonprofit, and government players because economic magic needs an engine firing on all three cylinders. The triad reinforces each element to drive inclusion and prosperity by enabling billions of people and millions of enterprises to do billions of sachet size transactions with low or no cost.

Gandhiji’s notion of democracy — where the weakest have the same opportunity as the strongest — needs an economic meritocracy only possible when entrepreneurs have all the consonants and vowels. India’s better scrabble has begun.

Sabharwal and Mantri are co-founder, Teamlease Services and Managing Director, Navam Capital respectively.

Source: Indian Express, 29/10/21

Thursday, February 21, 2019

What stops rural women from getting involved in entrepreneurship?

Women constitute only 14 per cent of the total entrepreneurs in the country. Women in rural areas face multiple barriers to pursuing income-generating activities, with patriarchal family and societal norms being the primary hurdle.

In Dhani Shankar village, Bhiwani, Renu makes colourful bangles and cosmetic creams using natural ingredients. Renu was lucky to have received the support of her husband in starting her own enterprise. She was motivated to do this after attending a three-day Start-And-Improve-Your-Business training in Jui village, and, she started her shop with Rs 10,000. Now, Renu tells me, she makes a profit of Rs 8,000 in a month. Renu also motivates other women in her village as a Biz Sakhi and, with her help, 14 women have started their own businesses.
When Renu came to participate in the discussion on promoting entrepreneurship, she told me that rural women often face problems in entering the workforce due to their domestic duties. In fact, on an average, Indian women spend 297 minutes daily on unpaid care work.
The need to improve women’s participation in the economy has been a long-standing priority and is also crucial towards achieving the Sustainable Development Goals, too. In recent years, entrepreneurship has emerged as an ideal way for rural women to contribute, by taking a few hours out of their day they can engage in small businesses and bring home additional income. There are multiple programmes which offer support to such women such as the Start and Improve Your Business Program (SIYB) of the International Labour Organization (ILO) and the government’s Trade Related Entrepreneurship Assistance and Development (TREAD). Our ongoing partnership with Hero MotoCorp Ltd and the Government of Haryana too seeks to positively impact the lives of 14,000 underprivileged women like Renu through training and entrepreneurial skill development.
However, recent data released by the Ministry of Statistics and Programme Implementation shows that women constitute only 14 per cent of the total entrepreneurs in the country. So, what is stopping more rural women from getting involved in entrepreneurship?
Through its pilot programmes with rural women under the Disha Programme, UNDP India has come to realise that one of the reasons for this lack of uptake is the absence of mentorship for women entrepreneurs. Women in rural areas face multiple barriers to pursuing income-generating activities, with patriarchal family and societal norms being the primary hurdle. Renu was of course lucky to have a very supportive husband.
Other issues include lack of awareness about opportunities, difficulty in accessing formal financing and poor customer management skills. It is clear that providing opportunities isn’t enough — these women need to be made aware and guided through the process to ensure they are successful.
Trained by Disha Project – a partnership between UNDP India, IKEA Foundation and India Development Foundation, the Biz Sakhis are women from rural communities who guide budding female entrepreneurs through multiple processes and provide both practical and psychological support to them. As a first step, they encourage rural women to start their own businesses by making them aware of entrepreneurship as a realistic opportunity, and, by informing them of the benefits of starting their own small businesses.
However, even after the women are trained, access to finance remains a big hurdle for rural women who often dip into their savings or take loans from their family. Biz Sakhis are instrumental at this point in helping them access formal banking channels for loans, by providing them information about schemes such as the Mudra Yojana Scheme of the government.
Again, even with financing, small female-run businesses often fail due to poor understanding of the market. Biz Sakhis provide inputs to help women access market linkages and introduce them to a variety of business models and ideas to help them scale up. They also work with small business owners to develop their communication skills, and to be able to persuade and negotiate with stakeholders within the ecosystem of their businesses.
However, the most important role that Biz Sakhis play in the lives of rural entrepreneurs, is to be the source of emotional and psychological support. It helps these women to become more confident in their abilities and have the determination to continue with their businesses.
Often, family pressures and societal norms discourage women from engaging in such activities or cause them to abandon their business in the wake of community backlash. Being from the community themselves, Biz Sakhis such as Renu can effectively engage with women and the community at large to counter such barriers and empower rural women to sustain their businesses
This article first appeared in the print edition on February 21, 2019, under the title ‘Enterprise empowerment’. The writer is the chief of skills and business development at UNDP India.
Source: Indian Express, 21/201/2019

Friday, September 07, 2018

Indian entrepreneurs should use tech for humanity rather than just for profit

You can be sure that governments and investors are funding the most profitable and malicious uses of technologies. That is why it is so important to teach India’s entrepreneurs about the advances and to inspire, motivate, and support their efforts.

Learn all you can from the entrepreneurs of Silicon Valley but don’t become like them. This was my advice to a group of 91 students who are visiting here on a programme sponsored by Rajasthan Chief Minister Vasundhara Raje. In a talk I gave this weekend, I encouraged them to take home the Valley’s optimism and culture of openness and information sharing — but not its greed and obsession with making money.
I also explained the advantage they have over the people they are meeting: an understanding of the true problems of humanity. This is what gives these students the ability to solve these.
Living here in California, surrounded by beautiful state parks, being close to mountains and the ocean, and having incredible comforts and luxuries, it is easy for entrepreneurs and investors to forget the realities of the world. People here cannot comprehend the hunger, misery, disease, and suffering faced by the majority of people on this planet. That is why the vast majority of the billions of dollars that are invested every year by venture capitalists go to silly apps and other equally meaningless, mindless projects.
Social entrepreneurship and corporate social responsibility are foreign concepts in Silicon Valley for the same reasons.
I told the budding entrepreneurs that they have opportunities that their parents could not even have imagined. They can literally build the Star Trek future that we have dreamed about, taking humanity from eons of scarcity to an era of abundance, to a world in which we worry more about sharing prosperity than fighting each other over what little we have. This period in human history is unique, because now entrepreneurs can do what only governments and big companies could do before.
With the advances in computers, which keep getting faster and smaller, the smartphones we carry in our pockets are many times more powerful than the Cray supercomputers of the 70s and 80s were. Those were only for scientific research and defence—and cost in the tens of millions of dollars. Our phones also have advanced sensors such as accelerometers and gyroscopes, more accurate than those in old nuclear missiles, and cameras with higher resolution than what spy satellites had.
Artificial Intelligence has advanced to the point that it can analyse large amounts of data and help improve decision-making in every sector from agriculture to finance to transportation. The same tools used by engineers at Google and Microsoft—and government research labs—are available to startups everywhere. These can be downloaded for free on the web and mastered by watching YouTube videos.
Robots are already beginning to do the jobs of humans in manufacturing plants, in grocery stores, in pharmacies, driving cars, and making deliveries. The humanoids of science fiction are also becoming a reality. The actuators and sensors necessary to build robots that resemble Rosie from the TV series The Jetsons or C-3PO from Star Wars are commonly available and inexpensive. AI will soon take a few more leaps forward and provide these the capability of acting intelligently—just like what we imagined.
There is no reason that Rosie, or Ritu the Robot, can’t originate from Jaipur—and speak Hindi or Marwari.
Using CRISPR, a new gene-editing system derived from bacteria that enables scientists to edit the DNA of living organisms, it is becoming possible to eradicate hereditary diseases, revive extinct species such as the woolly mammoth, and design plants that are far more nutritious, hardy and delicious than what we have now. Imagine banana and mango plants that thrive in the desert of Rajasthan. These may, one day, be a reality. This is all terrifying and amazing at the same time and relatively inexpensive to do by anyone, anywhere, using the tools.
These are just a few examples of what new technologies are enabling. In the next decade, we will also be 3D printing household goods, entire buildings, electronic circuits, and even our food. We will be designing new organisms that improve agriculture and clean up the environment. We will be delivering our goods—and perhaps be transporting ourselves—by drone. We can also build futuristic cities, which use only renewable energies, are clean and self-sustaining, and provide incredible comforts.
Amazing and good things really are possible. Yet, the same technologies can create dystopia, with large-scale destruction, spying, pandemics, and other unimaginable horrors. Many social and ethical dilemmas lie ahead.
You can be sure that governments and investors are funding the most profitable and malicious uses of technologies. That is why it is so important to teach India’s entrepreneurs about the advances and to inspire, motivate, and support their efforts. They will surely put technologies to their best uses and do this out of concern for humanity rather than just an intention to make profits.
Vivek Wadhwa is a Distinguished Fellow at Harvard Law School and Carnegie Mellon University at Silicon Valley. His forthcoming book, Your Happiness Was Hacked, explains how you how you can live a more balanced technology life.
Source: Hindustan Times, 7/09/2018

Tuesday, August 30, 2016

Odisha: IIT alumni sets up dairy farm to help people in his native village

An alumni of Indian Institute of Technology (IIT) has set up a dairy farm in his native village in Kendrapara district from where locals can buy pure milk at a cheaper rate than the market price.
Taking a break from busy schedule of his job at KIIT university in Bhubaneswar, Nihar Ranjan Beura (50) visits his native village at Dumuka under Marshaghai tehsil on weekends to look after the farm that has 32 hybrid high-yielding cows.
“The objective to set up a dairy farm was to make available pure milk to my native villagers at reasonable price. Besides I have been able to provide employment to at least ten families in the farm”, Beura said.
The farm is being run on no-loss-no-profit basis. The return from the milk sold is spent on rearing the cows, he said. The project is now two-year-old. I may have earned lots of money in overseas jobs. But the success of the project has given me immense pleasure.
Nihar babu seems to set an example to others that one has to give back to his or her motherland”, said a local Abanti Behera.
After finishing his schooling from a high school in Marsaghai and Intermediate Science in Kendrapara college, Nihar did MTech in Industrial Engineering and Management from IIT, Kharagapur.
“I was only one year old when my father Sunakar and my five year old elder brother perished in the 1967 cyclone. My mother Sunandabala who became widow at the age of 25 was a source of inspiration for me”, he said.
“Some time back, I was struck by how little it had changed in the village. In my childhood, my mother used to eke out our living by selling milk from our four cows. I decided to rear cows in our village. I purchased 35 jersey cows three years back by spending around Rs eight lakh. I spent Rs 10 lakh to build cattle shed. Now the cows give about 300 liters of milk daily. 12 families of our village eke out their livings by working in the dairy farm. Three acre land close to the dairy farm has been developed for fodder farming. The fodder leads to increase in milk yield,” said Nihar.
Nihar said he also organises yoga, meditation and spiritual events in my village. My goal was to help my people. I spend weekends in my village to do all the works, he said.
“I quit highly paid job in the US and other countries and decided to settle at Odisha. With my present job, I have been able to pursue rural development in my village,” he said.
“Career counselling by Nihar Sir is of immense help to the poor students of our area. It gives the much-needed exposure to local college students”, said a village boy who studies in a local college.

Source: Hindustan Times, 30/08/2016