For India to cultivate an entrepreneurial environment its successful entrepreneurs need to support start-ups and there needs to be a renewed focus on technology and education.
Great entrepreneurs focus intensely on an opportunity where others see nothing. This focus and intensity helps to eliminate wasted effort and distractions. Most companies die from indigestion rather than starvation, i.e., companies suffer from doing too many things at the same time rather than doing too few things very well.
I am really happy to see the number of entrepreneurs in India—not only because of the ideas they have but also because of the passion at which their ideas are put across. The only problem I notice is that people here in India are constantly “reinventing the wheel”—doing too much that’s not necessary. People keep repeating the mistakes of the older generation.
We need to create an eco-system where the successful people have to help the start-ups to take their companies forward. The reason being, nobody in history has ever succeeded without the help of the society. It is not only the successful peoples’ responsibility but also their obligation to give back something to the society. And part of their obligation is to help as many entrepreneurs as they can. There are two ways with which we can do it. One way is to do it on a scalable basis and the other is to do it on a local basis.
If we are planning it on a local scale, the entrepreneurs need each other to help resolve issues and the successful ones need to help and provide mentorship to the growing entrepreneurs. Through this process both can learn the lessons that are common to being an entrepreneur. This also needs some amount of seed funding which will result in giving the budding entrepreneurs a great potential to grow and understand their business through these mentors. These people now need to promote each other’s products and generate revenue through an eco-system that is relevant to them.
In order to really scale this process, it is important for us to realize in which sector the exponential potential lies which in result helps us to recognize the incoming technologies from all over the world. For example, genetics, studies conducted on intelligence, and neuroscience, helps us in applying the science in various other platforms including education which is of utmost importance. The authorities and the parents need to alter the pattern and ways we educate our children. This would bring positive changes in our society.
Similarly, in the healthcare sector we need a technology or software that can diagnose the disease better and faster than the technologies that are being used now. Moon Express, is currently working on a mission that is set to bring Helium-3 and Platinum and other important elements from the moon back to the earth.
We need to build stronger infrastructure to experience great progress in our country. We need to create a mindset of solving the problem. We need to be fearless in whatever we do in order to see some positive changes. Using new methods for education would help us in a great extent. Coming with a peculiar way of changing the education platform is the best possible solution. The ecosystem needs to be strongly connected in which we witness hundreds of entrepreneurs helping each other experiencing a positive change in our society.