Global Entrepreneurship Week is the world’s largest celebration of the innovators and job creators who launch startups that bring ideas to life, drive economic growth and expand human welfare. It is a platform for connection and collaboration—engaging all players along the entrepreneurship spectrum in strengthening ecosystems around the world Global Entrepreneurship Week. The objective of GEW India is to draw the lens of the world towards Indian entrepreneurs and the emerging vibrant ecosystem.
During one week each year in November, GEW inspires people everywhere through local, national and global activities designed to help them explore their potential as self-starters and innovators. These activities, from large-scale competitions and events to intimate networking gatherings, connect participants to potential collaborators, mentors and even investors—introducing them to new possibilities and exciting opportunities.
Millions who had never before considered launching their own ventures soak up advice and inspiration from the likes of Richard Branson, Michael Dell and Muhammad Yunus. Thousands of brand new startups spring to life through bootcamps like Startup Weekend and competitions like Startup Open, while serial entrepreneurs share their expertise through activities like EO24, run by the Entrepreneurs’ Organization, and practical training courses like FastTrac.
From the first speech by NASSCOM president Mr. R Chandrasekhar, it was evident that almost each industry sector has a huge potential for startups like Power Sector on ideas related to wastage, leakage, theft and saving energy. Infrastructure sector has potential in de-congestion of traffic in cities like carpolling, carhailing, signals etc. Healthcare in rural areas through digital ideas. Agriculture was another one where wastage of produce needs to be eliminated. Education with high quality etc to note a few. As of 2015, we have in India about 100K people employed and the aim is to reach to 250K by 2020.
Mr. Rajiv Pratap Rudy spoke about need to skill – only 3.5% of Indian population is skilled to be employable or skilled to the level that they can generate income for self. This is about 74% in Germany, 85% in Japan and 96% in South Korea. The government is addressing this via NSQF – National Skill Qualification framework, Qualification Packs and defining Job Roles. As of today, 6500 Job Roles have been defined. Minister cited very interesting examples of Entrepreneurship and also promised to help startups via the ministry. He also indicated on the need to have a clean exit route of startups and simplifying the approvals needed to have a business up and running.
Urban Clap founder spoke about some of the key aspects he thinks are very important for startups – Long term view of about 8-10years, keeping things basic and simple, focus of removing hurdles faced by customers and partners. Likewise, the founder of inShorts mentioned about the need to have crisp news information in less than 60 words – content for personal consumption. myPoolin started with the idea of having an app to share common expenses when a group of friends go out – now it has been expanded to planning and sharing of expenses for any trip, gifts, events etc…
The panel discussion on “been there done that” focused on the need for startups to have funding at right time, factors to consider, types of funding available, what investors look for, challenges, valuations and so on… there were huge number of questions and these were carried over to lunch.
I was happy to network with some of the startups like AptIdea Solutions(marcom for startups), CareBuddy (similar to sapfit), askranjeet (mentor & investor), rellan enterprises(marketplace for startups and investors).
On my way back to office, It was clear that startups have very different challenges than we have in our day to day work. SAP is on its way in building startup culture within the organization. Some of the startups have ideas which are similar to the ones that come up during demo Jams and What The hack events in Labs India.
Back at office, while sharing my experience with colleagues, one of them hinted me to try out the services offered by these startups. So, over the weekend, I tried out Urbanclap for electrician and plumbing work. The overall work done by Urbanclap team and my experience was awesome, at a fair price (200INR each for electrician and plumbing work).