The fear of inertia, fear of failure, and fear of lack of innovation were perhaps preventing people from starting their own enterprise said chairmanship of Puneet Vatsayan, director, Mobera Systems in the plenary sessions during the concluding day of e-revolution 2007 on the topic of Entrepreneurial Ecosystem.
Pradeep Gupta, chairman, Cybermedia and founding member of the Band of Angels, however listed out the five essentials to creating an enabling ecosystem that could encourage entrepreneurship. Though vision, idea, people, market and technology are the pre-requisite to start an enterprise, the five essential support systems are needed today which includes a social ecosystem, education-based ecosystem, networking, mentoring, and availability of money.
He hoped that already various organisations like BoA, TiE and IVCA are providing the mentoring, networking and the angel invesment support to new starts up and the need of course is to ensure state intervention in revamping the educational system.
Garima from Milagrow shared her retail experience and how, in the Indian context, where the retail sector is largely unorganised yet contributing 14% to the country’s GDP, many innovations are being evolved to meet the indigenous customer requirements.