Entrepreneurship is important to India as a job generator and an engine for social change, Erik Azulay, Director of Nexus, a US government-funded platform for supporting start-ups in India told young aspiring entrepreneurs assembled in New Delhi on Monday.
“Entrepreneurship is the engine for change… India needs startups for improving the social conditions,” Azulay said at the Business Entrepreneurship Summit of Leaders For Tomorrow (LFT), a youth volunteer organisation, at the American Centre of the US embassy.
He told over 700 of youngsters who attended the session that entrepreneurship didn’t have anything to do with age, money or the background, but it was about passion.
“A small individual can change the world, Entrepreneurship isn’t multi-million dollars. It’s about finding a problem that affects the society at large and solving it,” he said.
Madhu Kannan, Chief Business Officer of Uber India told the participants that great business ideas with poor execution would remain only on paper.
“Entrepreneurs don’t have shortcuts, our goal is to sustain a long-term business. Don’t take shortcuts, do stuff the right way,” he said.
Mr Kannan noted that on the positive side, access to finance for entrepreneurs in India is growing in the last five years.
Anil Antony, Executive Director at Cyber India highlighted the importance of technology to the participants. “Technology is transforming every sector around us. Innovative technology helps us build businesses,” he said.
“[But] in India, most of the startups lack innovation and are copied from the developed market with some proven model,” Mr Antony said during a panel discussion moderated by Senior Journalist Puja Mehra.
The session on Busines Entrepreneurship was a Part of LFT’s month-long Development Festival, which brings together a million youth from across the country at the capital.
“At Leaders for Tomorrow, we want to create a platform for the youth to interact with entrepreneur, hear their story, learn and take inspiration from them. Maybe in the coming years, we want to do this Summit on a bigger scale,” said Binoy Job, founder, LFT, in his opening speech.
“Our aim is to make you job creators, wealth makers and change makers,” he added.
Watch the Full session here: