New Delhi, July 28, 2017: What is entrepreneurship? It is the capacity and willingness to develop, organize and manage a business enterprise along with risk factors in order to make a profit. This implies that there is no business without risk.
There are many obstacles that trouble a growing entrepreneur in India. This doesn’t mean that there aren’t any entrepreneurs in India, but rather the number of entrepreneurs springing up is not an encouraging figure.
Here are some of the reasons for fewer entrepreneurs in India:
Brittle family system
This issue bothers entrepreneurs in India because of the stronger family ties that we Indians have. Family support is always absent in such cases. Parents always prefer their children to take up a conventional 9-5 job rather than take up a risky business venture where there is no guarantee that the venture will work out and a high level of risk is involved.
A few business ventures that break free from the restraints of the usual problems get caught in the outmoded policies of our government. The framework of our administrative system limits the organic development of the enterprises.
Low Internet usage in India
The majority of the innovations in the world occur at internet space. The internet usage percentage stands low at 5% in India. Such a small number makes it really difficult to bring in money and few entrepreneurial ventures.
The main reason for low innovation in entrepreneurship is our educational system. Our education system hardly focusses on innovation right from its inception. Without an innovative idea, no entrepreneurial venture can sustain itself beyond the initial stages.
India being a developing nation hasn’t made much progress in the direction of innovation. What we really need to do is mold young minds and inspire them to think creatively. They should be encouraged to let go of their impediments and take the risk to tread a path that’s not yet been explored.
– by Naina Mishra of Newsgram. Twitter @Nainamishr94
NewsGram is a Chicago-based non-profit media organization. We depend upon support from our readers to maintain our objective reporting. Show your support by Donating to NewsGram. Donations to NewsGram are tax-exempt.
Though there are forsure many but here we present to you the some handful of success stories of Muslim women in modern world. Totally independant and unbounded, they have carved a niche for themselves in many fields through their creativity, talent and self - belief
Not everyone is following rigid fundamentalism these days. In 2017, people and specially some inspiring Muslim women are embracing freedom and individuality through their inspirational work in global markets. Be it fashion, lifestyle,sports or politics- they are setting standards in every domain, breaking stereotypes all the way long!
Have a look at the success stories of these leading Muslim ladies and what they believe in.
Dubai based fashion entrepreneur Saufeeya is a global figure appearing in many fashion magazines. Being the co-owner of Modest Route, shehas re- branded Modest fashion in a very stylised manner grabbing the attention of 2million followers on instagram page. She is frequently mentioned in Vogue or Teen Vogue under the trademark of her bold, daring and contemporary outfits made for modern age Muslim woman. This trendsetter with her avant garde style has been revolutionizing Islamic modest clothing in world.
Carolyn hit the headlines when she was sworn in with the Quran back in 2015, becoming the first ever New York City Civil court judge to do so. She bravely stood up to the backlash that resulted later but her strong act inspired many Muslim women around the world. It somehow relieved them from communal stigmatization that they go through.
Linda, a Palestinian- American civil rights activist, is popularly known for her key role in helping to organize the 2017 Women’s March in Washington.It was a public demonstartion led by women coming together from all walks of life. With her resolute, Linda instilled in a belief in thousands of women to fight for their vanity,esteem and rights.
it is hard to imagine a female road racer/motocross rider and being a Muslim woman makes it a rare case, but Behnaz is exactly that. Born in Iran- a country where women are not allowed for exercising such liberties and are often ridiculed for their driving skills, Behnaz enjoys the fact that many men cannot do the stunts she performs with ease and confidence on her motorbike. She is the only Iranian female to be involved in road racing professionally challenging the preconceived notions of the society in regard to women.
Known for her fashion blogs, Ruma recently got mentioned on the Twitter page of H&M where she was applauded for her distinctive panache that voice traditional modesty. According to her the haute hijab empowers feminine sensibility.Being a dreamer as well as achiever, she looks forward to inspire her followers with stories and lessons learned from her life by using social media to promote the art of fashion.
Halima is a model known for being the first Somali-American Muslim woman to take part in a beauty pageant donning a hijab.With all grace and modesty she hit news by reaching the semifinals of Minnesota USA pageant. She even graced the fashion runway for Kanye West at his show Yeezy season 5. Keeping at bay all Muslim stereotypes, this flamboyant model appeared on the front cover of Allure, wearing a Nike hijab with a caption saying, “This is American Beauty.”
As a YouTuber and blogger, Shahd’s focus is mainly on providing viewers with her own original tips on how to attain healthy skin or apply makeup. Sudanese by birth but now living in Minneapolis, her tutorial videos are popularly hitting the internet since 2014. They were recently rehashed and showcased via her new sleek channel. From wearing a classic head-wrap and making pen perfect eyebrows, to her very personal stories with regard to the Hijab, she has been earnestly devoting herself to portray Hijab as a motif of modern age accessory.
Sharmeen has been mentioned by esteemed Time magazine as one of the 100 most influential people in the world. A Muslim woman filmmaker, journalist and activist born in Pakistan, most of her films highlight the inequalities that women face. She has received two Academy awards, six Emmy and Lux Style award for her bold vision. Even the Pakistani government has honored her with the second highest civilian honor of the country, the Hilal-i-Imtiaz for her dauntless contribution to films.
These handful examples of empowering, influential and compelling Muslim women express a great deal- to come out of the shackles of a society that restricts you and your creative energies.Not just to the Muslim women of today, they are inspirational for all women who seek for self – actualization.
Due to improvement in connectivity and transport facility in the last two years, coupled with concentrated administrative focus, more and more youngsters are now heading towards the northeastern states to venture into entrepreneurship
New Delhi, October 16, 2017 : Union Minister of State for Development of the North Eastern Region (DoNER) Jitendra Singh claimed that the area was fast emerging as the new start-up destination for youngsters from all over India, an official statement on Monday.
Due to improvement in connectivity and transport facility in the last two years, coupled with concentrated administrative focus, more and more youngsters are now heading towards the northeastern states to venture into entrepreneurship and take advantage of its unexplored potential, he said, according to a DoNER Ministry statement.
Citing an example, he said in certain areas of Northeast, including states like Arunachal Pradesh, “while almost 40 per cent of the fruit goes waste on account of lack of adequate storage and transport facilities, the same can be used to produce and manufacture fresh and pure fruit juice at a much more cost-effective price”.
During an interaction with youngsters, Jitendra Singh also pointed out that many new airports coming up at Pakyong (Sikkim), Itanagar and Shillong, which along with a time-bound plan to lay broad-gauge rail track, would bring in further ease of doing business.
“Another sector of entrepreneurship which is fast emerging in Northeast is the medical and healthcare sector.
“For years, there has been a trend for patients to shift outside the region, mostly to Kolkata or Vellore, but the encouragement given to the private corporate sector has now resulted in the opening of new hospitals within the region itself and young entrepreneurs are taking the lead,” he said. (IANS)
Indians have contributed to growth of iconic business firms like Sun Microsystems, Hotmail and some of them have turned into biggest entrepreneurs and job creators
There are many Indian-origin leaders who have become household names today like Indra Nooyi (Pepsi), Shantanu Narayen (Adobe), Satya Nadella (Microsoft), Sundar Pichai (Google)
Hotmail.com founder Sabeer Bhatia, the company was founded in the year 1996
New Delhi, August 21, 2017: Indians are facing accusations from Americans that they are snatching away American jobs, but it’s not the case. There is an Indian- American venture capital firm called Inventus Capital Partners which is trying to throw some light on the contributions Indians have made in the growth of Silicon Valley.
Indians are stereotypically viewed as a source of cheap labor in US Technology Industry but they are much more than that. Case in point is over the last 10-20 years, Indians have contributed to the growth of iconic business firms like Sun Microsystems, Hotmail and some of them have turned into biggest entrepreneurs and job creators instead of being just job seekers.
As per a report from July, Director of Inventus Capital Partners- Manu Rekhi, the company operates from Bengaluru and San Mateo, California, he observed how Indians have left a mark in the American entrepreneurial space.
There are many Indian-origin leaders who have become household names today like Indra Nooyi (Pepsi), Shantanu Narayen (Adobe), Satya Nadella (Microsoft), Sundar Pichai (Google). But these success stories were due to decades of hard work.
In the early 1980’s, arrived in the US the first generation of Indian entrepreneurs. According to Quartz report, Manu Rekhi said, “Among these legends was Kanwal Rekhi (my partner) along with Vinod Khosla, Naren Gupta, Prabhu Goel, Suhas Patil, and many others, who went on to finding notable companies like Sun Microsystems (acquired by Oracle), Excelan, and Cirrus Logic.”
When the early entrepreneurs moved to America global exposure was very limited and also their understanding of consumer behavior of the people in the US was also limited. That is the reason they founded engineering- heavy systems and networking companies instead of going for consumer facing ones.
Slowly, with time more Indian tried their hands at launching new ventures and also US doors opened for foreign students, thus Indian entrepreneurs turned their focus from enterprise to consumer- oriented companies. One prime example of this is Hotmail.com founder Sabeer Bhatia, the company was founded in the year 1996. Sabeer Bhatia is a BITS Pilani graduate, did masters from Stanford University and has worked for Apple before launching his maiden email service.
The 1990s was also the year in which the Indian-origin leaders were also mentors in the Silicon Valley. Case in point is BV Jagadeesh who is a Serial Entrepreneur and Venture Capitalist. Jagdeesh helped to raise the seed money for Netscaler, a San Jose based company. He later went on to become its President and also CEO by the year 2000. Currently, Jagadeesh is a managing partner at KAAJ Ventures, it makes early stage investments in startups, and he is also an adjunct professor at Santa Clara University, takes classes on early-stage startups and valuation. Ram Shriram is a Venture Capitalist, a founding board member and is one of the first investors in Google. His stake in the company was $ 1.3 billion in the mid-2000, he also mentors budding startups.
Rekhi said that later companies of Indian entrepreneurs shifted towards technologies which were more advanced.For example, Jyoti Bansal started App Dynamics, a management and operations analytics firm, which was later acquired by Cisco for $3.7 billion on 22 March 2017. Dheeraj Pandey, Indian Institute of Technology (IIT) Kanpur alumni owns Nutanix, a cloud-computing software company. In 2016, it had a multi- billion dollar initial public offering. Manish Chandra who is the CEO, Poshmark, which is the social fashion marketplace. Chandra created a product which would be “unheard of 20 years ago,” Rekhi said.
For example, Jyoti Bansal started App Dynamics, a management and operations analytics firm, which was later acquired by Cisco for $3.7 billion on 22 March 2017. Dheeraj Pandey, Indian Institute of Technology (IIT) Kanpur alumni owns Nutanix, a cloud-computing software company. In 2016, it had a multi- billion-dollar initial public offering. Manish Chandra who is the CEO, Poshmark, which is the social fashion marketplace. Chandra created a product which would be “unheard of 20 years ago,” Rekhi said.
Indians are less than 1% in the total US population, but still by 2012 they founded 8% of all the American tech & engineering startups. The group has started one-third of the immigrant-founded startups in the US. The firms which they have founded also provide great acquisition opportunities and also made high-value public debuts, Rekhi said, mentions Quartz report.
The first Indian-American founder led company- Nasdaq IPO (Initial Public Offering) opened its doors in 1987 with Excelan going public, but the pickup in big-value exists came only in recent times.
In the last 5 years, the software and services sector, which has 17 companies, tops the list of IPOs owned by Indian founders and co-founders and has a combined market Capital of amount $26.2 billion. The second in the list were Pharmaceuticals, biotechnology, and life sciences in terms of the number of IPOs (six). But, the retail industry saw a much larger market Capital of as much as $6.67 billion, in comparison to Pharmaceuticals, it was $397 million. 10 of these 34 companies that make approximately 29% were acquired following their stock-market debut.
According to Quartz report, Rekhi said: “Even before the turn of the millennium, companies like IBM and Intel had been making acquisitions, but mostly of outsourcing services companies where you’re basically buying manpower.”
But between 2012 and 2017, more than 25 companies by Indian-origin entrepreneurs saw mergers and acquisitions worth- $500 million and more, Rekhi found.
Rekhi noted, “Topping that list is Western Digital’s acquisition of SanDisk, worth a whopping $19 billion, followed by several acquisitions from Cisco, HPE, and SAP.”
Today, 14 of the 261 unicorns are headed by Indian-origin founders (private companies valued at over $1 billion) in the US. These 14 startups, when taken together have a combined value of $35.17 billion and funding of $81.8 billion, with the IT industry taking the lead, according to Rekhi.
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