The “Start-up India” launch, that happened on January 16, 2016, brought together several stake holders to stimulate dialogue on key challenges faced by the Indian startup ecosystem. This initiative is a significant step in the Government of India’s commitment to making India the hub of innovation, design and Start-ups.
The global workshop on “Innovation and Start-ups” brought together some of the most innovative minds like Masayoshi Son, Founder & CEO Soft bank, Travis Kalanick, CEO Uber, Adam Neumann, CEO We work and several successful Indian businesses from flipkart to Paytm. Catalyze Center for Learning was one of the 2000 Indian startup Invitees to attend the event. The landmark event not only brought forth the innovation and energy of Indian youth, but was an arena where some of the brightest innovators and business minds shared their stories and left some very powerful take home messages for aspiring entrepreneurs.
Here are some of the take home messages that came out of the day long discussions and interactions.
• Entrepreneurship happens when passion meets a need - Talking about how Uber came about, Travis shared, “We wanted to get a ride in Paris but couldn’t find a taxi.” He saw a big market there that hadn’t changed for a long time.
• Start small and make a difference - It is important to start small and build a business and a community that fosters itself. Also be passionate about making a difference to people.
• Success always follows exceptional people - Entrepreneurship is not only about money and success, but making a difference and touching the lives of people in positive ways. Instead of chasing money, which is a peripheral, chase impacting lives, which is core. Once the core is addressed the peripheral follows.
• Take the plunge and enjoy the ride - Entrepreneurship is not only about success. Most successful entrepreneurs have had many failures before they became successful. It is important to take the failures as learning lessons and enjoy the ride.
• Find a good mentor - Good mentors act as a compass where an entrepreneur can gain direction and insights.
• Hire a team where the cultural fit is right - Spend 25-30% of your time interviewing people who will help you grow. Success of an entrepreneur is always about people.