Promoting Entrepreneurial Eco System in India – TechBazar 2010, BITS Pilani

India as we know is never short of talents. Even as a number of business ideas are sprouting in every corner of the country, is our environment hospitable to the budding Entrepreneurial ventures? The rate at which the Entrepreneurial environment has been developing does not equal the Entrepreneurial population has been growing.

The role of TBIs in the real time development of an incubated venture has been criticised for its inadequacy. A talent not nurtured is as good as a talent unborn. The government and the Entrepreneurial Establishments like the E-cell in the various Academic institutes should join hands in bringing about an ecosystem conducive to Entrepreneurship.

As a step ahead in the path of promoting and developing the innovative ideas and budding ventures into sustainable commercial businesses, the Centre for Entrepreneurial Leadership and the Technology Business Incubator – BITS Pilani in association with the Department of Science & Technology, govt. of India, and NEN, organize TechBazar, an annual convention to energize entrepreneurship among technical students and young scientists and innovators.

This two day event offers a platform to expose the ideas and innovations to, among others, an eminent team of bankers, entrepreneurs, Venture Capitalists, professionals, R&D experts and mentors through its Technology Bazar and also enables a thorough analysis of the Business idea/venture and expert guidance through the Technology Clinic. The clinic focuses on the development of micro and entry level enterprises through interactive sessions with the expert panel on various areas including Developing Business plans, venturing and financing processes, government policies and perspectives on enterprise development and honing the Entrepreneurship skills.

Besides an opportunity to showcase and exhibit innovative products, new ideas and design concepts, TechBazar also aims to offer participants a platform to forge partnership, linkages and improved access to venture capitalists.

Dr.Arya kumar, the chief coordinator of the TBI at Bits Pilani, says “It is essentially aimed at providing support to new ideas and technologies so that these ideas can be converted in to successful businesses. The goal is to help innovators to take the leap from ideation to execution so that the entrepreneurial mindset can flourish”

TechBazar 2010, the 4thAnnual convention held on 24th-26th March 2010, saw a huge response from not only aspiring students with innovative ideas but also budding Entrepreneurs from all over the country. The event was sponsored by Jubilant Organosys, CSIR, CEERI, SBBJ, UCO bank, Indian Oil, and Bank of India

The guest of honour Mr. Sudhir Dubey, General Manager (Operations), SBBJ, Jaipur delivered the keynote address on the role of banks in promoting start ups. He stated that it was difficult to give a reality check to entrepreneurs with lofty financial goals.

At the same time he said that banks have made many efforts in the recent times to encourage entrepreneurs. He explained the nuances of the finance involved in entrepreneurship. He stressed that for any venture to be successful there is the need of a concrete business plan which cannot be challenged by any financial institute to which one may approach for capital.

Many more such initiatives should be taken by both the government and the academia in order to develop the powerful socio-economic tool of Entrepreneurship in order for the society to taste its true fruits.