New Delhi, May 9 ANI | 7 months ago

Amity Innovation Incubator (AII) in association with TiE (The Indus Entrepreneurs) organized a day long "Entrepreneurship and Innovation Summit" at India Habitat Centre, New Delhi.

The Summit provided a unique opportunity to budding entrepreneurs, SMEs and Venture Capitalists to get apprised with latest trends in the industry along with showcasing their innovation to stakeholders. The delegates gained new insights by interacting with innovation Gurus and Industry leaders.

The Summit commenced with the discussion on the topic "Innovation in Entrepreneurship: Affirming Commitment to Innovation" wherein leaders and experts including Dr. B.K Gairola, Member Secretary, National Innovation Council, Mr. Aseem Chauhan, Chancellor, Amity University & CEO, Amity Innovation Incubator, Mr. Rahul Sharma, Co-Founder, Micromax Informatics, Mr. Raman Roy, Chairman & Managing Director, Quatrro and, enlightened the audience on the topic with their experience and views.

Mr. Rahul Sharma shared the inspiring story of the evolution of Micromax from being a start-up software company aiming to be one of the top 10 mobile companies in the world. He said that Entrepreneurship and innovation are interlinked. Innovation comes when you move away from the conventional methods followed by the industry.

He urged the entrepreneurs to understand their industry, identify the gaps within and address them, with the aid of innovative ideas.

Discussing about the need of innovation in education industry, Mr. Aseem Chauhan said that the Founder of Amity University-Dr. Ashok Chauhan initiated the revolution in the education industry of India through Amity Group of Educational Institutions.

He further added that in India, Education has gone through various cycles of change. Initially, the government institutes dominated the higher education sector but the scenario is different now. Edification in numerous disciplines such as Cyber Law, Forensic Science, Biotechnology etc. are few of the innovations credited to Amity University.

He stressed that for creating a novelty, one needs to observe what is happening in the market, identify the unfulfilled needs and then work on fulfilling those needs through creative and innovative ways.

Dr. Gairola talked about the revolution heralded by innovation in Government Sector. He stated that Government has announced 2010-20 as "Decade of Innovation" and shared that Government is creating awareness about the importance of Innovation by setting up Sectoral Councils and State Councils. Government has also created inclusive Innovation fund of Rs. 5, 000 crores to promote innovation in the country and in each and every sector, Councils are being set up to promote and highlight creativity.

The discussion ended with the Q&A session between the delegates and the panelists.
The second session was based on the topic "Building & Sustaining Innovation" wherein prolific speakers including Mr. Amit Dubey, Co Founder & COO, Heuristics Infosystems, Mr. Harsh Kapoor, Innovation Lead, Monitor Deloitte, and Mr. Sameer Narula,Founder & Managing Director, August Capital Partners shared their views.

Giving a presentation, Mr. Harsh Kapoor shared the case study of Apple Inc. wherein he stressed that Apple Inc's success goes beyond products to encompass multiple types of innovations.
Mr. Amit Dubey shared the story of his venture and stated that effort is required not just in developing an idea but also selling it to the target market.

The panelists for third segment included Dr. Anita Gupta, Director, DST, Govt of India, Mr. Rakesh Rewari, Former Dy M.D SIDBI and Expert, National Innovation Council, Mr. Ashwin Raguraman, COO, India Innovation Fund, Mr. Hemant Kanakia, Angel Investor, Kanakia Partners, Mr. Ritesh Banglani, Director, Helion Partners and Mr. Pankaj Dinodia, CEO, Dinodia Capital Advisors as the moderator.

The discussion was on topic "Exploring the financial landscape for Innovations" where the panelists enlightened the delegates with the financial aspects of the business and the importance of right approach to the right investor. They enlightened delegates about different kinds of investors who could be approached at various stages of setting up a successful business and emphasized that at early stage, approaching an Incubator is the best option.

The summit included a workshop on Systematic Innovations & Innovation Management headed by Mr. Aditya Bhalla, Innovation Practice Head, QAI wherein the delegates gained knowledge on the numerous important and interesting areas such as startling facts about brain and how they impact innovation & entrepreneurship, Innovations for mass media, Idea Generation techniques and Corporate Venturing in India.

(Posted on 10-05-2014)

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