A seminar co-hosted by Times Private Treaties & TiE
Online PR News – 19-February-2010 – – Do Indian entrepreneurs have it in them? At a Times Private Treaties-TiE co-hosted seminar for Professors of Stanford University for a survey being done on behalf of the World Economic Forum, a key story that emerged was that while entrepreneurs in India may be known for their adaptability and frugality, but when it comes to democratising decision making or taking big risks they’re not quite home yet.
So said Martin Haemmig, Adjunct Professor and senior advisor on venture capital at Stanford University “Indian entrepreneurs tend to focus on short-term goals, which may work just fine. But you also need a long-term strategy which involves assembling a great team and staying focused,” he said.
Haemmig knows what he’s talking about. Having spent over two decades at various global technology companies, he now teaches globalisation of venture capital in the US, Europe, China and India. Along with George Foster, Wattis Professor of Management at Stanford Graduate School of Business, he is currently in India to interact with companies, seek data on their experiences and explain the secrets of high-growth organisations the world-over. The insights drawn from the interactions will form the basis for the duo’s research on ‘Entrepreneurial Companies Around the Globe’, to be presented at the World Economic Forum’s 2010 summit in India have a lot in common on the entrepreneurial front. Both are home to billion-dollar corporations that overcame geopolitical limitations and leveraged the power of educated and affordable labour pools to become global players. Each nation also has a huge number of SMEs that form the backbone of their economies.
Said Foster: “We’re conducting a survey where we have invited companies that were founded between 1997 and 2004 and that have over 50 employees and turnover of over $5 million, to participate.” The Seminar in Mumbai outlined key concepts central to building a high growth potential company. The concepts include Growth Accelerators and Inhibitors, Growth Tree Dynamics, Growth Risk Analysis, Leverageable Assets and Inherited Liabilities and Customer Ecosystems.
A Velumani, CEO of Thyrocare said, “Countries like India and China are definitely amongst the most prominent emerging markets in the world today. Being the fastest growing, they are also the most dynamic and are witnessing rapid changes in the business climate.” He adds, “The direction which these economies are taking has been broadly defined, but you need concrete empirical evidence to establish the facts. And that’s where this survey would be of great help.”
Rajeev Chugh, financial controller, Aegon Religare says, “In my opinion, the session was helpful in understanding the importance of financial and business systems that make an enterprise successful. Also, the professors spoke on various aspects of VC and PE funding and as a startup player in the capital-intensive insurance space, we learnt a lot from the presentation.”