Monday April 23, 2018
Home Business Women entrepr...

Women entrepreneurs must focus on scale and good team: Kiran Mazumdar

0
//
127
Republish
Reprint

Bengaluru: Kiran Mazumdar, Biocon Chairperson on Thursday said women entrepreneurs must focus on scale and building a good team.

“As women, we must focus on building scale. If you don’t build scale, I really believe you will be at a disadvantage. You cannot then build a credible business story,” said Shaw at panel discussion ‘Promoting Women Entrepreneurship’ at Invest Karnataka 2016 Global Investors Meet (GIM).

According to Shaw, scaling process is a daunting task without creating a good team.

“A good team with critical competencies about business modeling, about finance and about marketing is a very important contributor to scaling and success,” she said at the discussion attended by women entrepreneurs from across Karnataka.

Shaw considers her bio-technology company Biocon as the first startup to emerge from Bengaluru and narrated the difficulties she faced while sharing it.

“In 1978, the bankers did not have faith in me that I, being a woman, am capable of setting up a business. Loans for women entrepreneurs were classified under the handicapped and backward classes category,” she revealed.

She thanked Karnataka State Industrial Investment and Development Corporation (KSIIDC) and Karnataka State Finance Corporation (KSFC) for coming to her aid and approving the loan.

The panel discussion also hosted a sister city initiative agreement signing between Bengaluru and San Francisco. Additional Chief Secretary Ratna Prabha and Sister City Initiatives co-chair Nandini Tandon exchanged the agreement.

Earlier, Women Entrepreneurs Guidance Cell (Mahila Udyamavani Cell) was launched to give a shot in the arm for women entrepreneurs.(IANS)

Click here for reuse options!
Copyright 2016 NewsGram

Next Story

IMF: Empowering Women Is Smart Economics

IMF says, Getting more women into formal workforce is priority for India

0
//
11
Ken Kang
Ken Kang. IANS

India must focus as a priority on ensuring that more women work in the formal sector as it continues with labour reforms, according to Ken Kang, the deputy director in International Monetary Fund (IMF) Asia Pacific Department.

While “in recent years India has made very impressive progress in reforms,” he said that “looking ahead there are important policy priorities” and listed three among them.

“One, is to continue improvements in product and labour market reforms with a focus on increasing formal female labour participation to improve the business environment, and reduce complex regulations, but also to address supply bottlenecks, particularly in the agricultural sector and distribution networks,” Kang said at a news conference on Friday in Washington.

As one of India’s major reform achievements, he mentioned the “introduction of flexible inflation targeting and of a statutory monetary policy which has helped to strengthen the monetary policy framework.”

Working woman
Working woman. Pixabay

The Reserve Bank of India Act was amended in 2016, to provide for a Monetary Policy Committee that decides on the interest rate required for achieving the inflation target set by the government in consultation with the bank.

The other achievements include the Goods and Services Tax (GST) and the “major recapitalisation plan for the public-sector banks in order to accelerate the work out of nonperforming loans, as well as made some important legal improvements through a new insolvency and bankruptcy law,” Kang said.

“We expect and hope that the reform momentum continues,” he added.

Also Read: Newly Developed Tool to Battle HIV in Women

“We are not saying that India’s structural reform speed will slow down because of elections,” Changyong Rhee, the IMF director of the Asia Pacific Department said.

“What we are saying is that the growth momentum and the structural reform momentum should continue despite the election period. So there is something misquoted,” he added.

On Thursday, IMF Managing Director Christine Lagarde had said at a news conference on Thursday, according to the IMF transcript: “We have seen and we are seeing — I am not sure that we will be seeing in the next few months given the elections that are coming up — major reforms that we had recommended and advocated for a long time.”  IANS

Next Story