I happened to attend a seminar at Bangalore. The challenge being addressed was changing the mindset of Indian Entrepreneurs in the hi-tech space.
The agenda was well structured (Check it out at my eSnips Account here)and you can be sure that the attendees left with some soul soup to carry along. This workshop was aimed at assembling key professionals, industry leaders and academics who are at the forefront of establishing product development practices in India. The idea was to look at some models of business which have been successful (Adobe, I-Flex Solutions, Texas Instruments) and also discuss new models being used by upcoming companies (Tejas Networks, Midas, AirTight, Strand Life Sciences). The third round was about providing Outsourced Software Product Development Services from Outsourced Product Development(OPD) Companies(Persistent, Sasken). From the looks of it, there is a huge potential for newer companies to start new businesses in India and sell to the world.
Shirish B. Purohit, CEO, Midas Communication Technologies and Samir Palnitkar, VP of Engineering for Airtight, were kind enough to share a part of their presentations. Shirish in his presentation talks quotes, Jim Harris, from his book, the learning paradox,
10 years from now, 80% of the business activity will be based on technologies that do not exist today
This could be looked at in 2 ways:
- A great Challenge for business leaders
- A great opportunity for new entrepreneurs
What this will mean for us Indians is:
Any activity that we do can be sustainable, only if
- We are willing to look around and track the changes
- We are ready to carve out resources towards preparation for the future
- We are open to change, and evolve –Better still if we are the change leaders
What is the Indian advantage?
- Engineering / Management Competencies
Scientific bent of mind
Knowledge based labour pool
Over 2,00,000 science / engineering / Management graduates in India
India and China account for 26% of the world’s fresh graduates
- Large home market
That reflects the need of 100+ countries (+ 2 Billion Population)
Economy of scale can be leveraged to be competitive
But with the competition building up and the present state we are in, Shirish spoke of,
What do we need to do additionally ?
- Supplement engineering training with attitudinal training
- Communicate the importance of results and performance as the only lasting value
- Make individuals think of themselves as
but `partners in growth’ of the organization they participate in
Convey that meaningful and sustained growth for an individual is possible
- Only by taking up more responsibility
- Learning new skills
- By taking Initiatives to take up new challenges
More in my next blog.