Tiecon business line page 2
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This document summarizes key events from the TiECON 2011 conference in Chennai, India. It provides advice to entrepreneurs on networking at the event to share their ideas, meet mentors and investors, and gain new perspectives. The conference is described as an opportunity to promote projects and businesses to people who can offer support and guidance. Securing feedback and making connections with experienced industry members is emphasized as highly valuable for entrepreneurs.
Tiecon business line page 2
- 1. R CHENNAI 2011 24th Nov 2011 @ Chennai Trade Center TIECON 2011 - Opportunity Abounds President’s Message by Lakshmi Narayanan by R (Naru) Narayanan (TiECON Chairman) Innovation has taken centre stage yet again and since the last This is a good place to talk enough to achieve all this, but we promise you that in the future, we TiECON, we have had several products and ideas to celebrate. The about your project. Quite often will increase the time duration of TIECON. revolution in hand held devices, the growth of Auto and Component entrepreneurs are reluctant to industry in India and the rapid fall in the cost of generating power talk about their project, perhaps This is a good place to meet mentors. from alternate sources are some examples of new enterprise. In somewhat shy or even fearful What do they look like, these mentors? Charter members of TIE are addition the whole new consumer space is beginning to explode, that their idea will be stolen. usually over the age of 45 years, and several of them would be walk- driven by innovation in retailing and e-Commerce. Nothing could be further from ing around with some badge or the other. Try and catch them when the truth. The truth is, that the they appear less busy and see if you can get their attention. We advise We have also seen some fascinating growth in the transfor- idea usually constitutes 5% of all our charter members to make themselves both visible and avail- mation of the unorganized sector into an organized sector. Notably the total project. The balance 95% that goes into the planning and able. But they also carry several responsibilities during the conven- security and care services, as well as quick service restaurants as a implementation is what a project is all about. A convention is a good tion. So, unless you catch them at a time, when they are attending to category. Driven by the expanding middle class and the aspiration place to talk about your project and invite criticism and thoughts. And something urgent, they are most accessible. Please do not hesitate to high millennial, the market opportunity is showing signs of break that usually happens during the various networking opportunities accost any or many of them and try and catch their attention.Have a neck speed and we have seen some very interesting stories of entre- that you get at TIECON. We encourage you to boldly talk about your 30 second elevator pitch on your project that you have rehearsed and preneurial success. startup to virtually anybody who will listen. Exchange visiting cards are sure is very easily comprehensible. with anybody who shows the slightest willingness to listen. Follow it The mentors and angel investors are in great demand by the up with a call, if they are agreeable. Remember to show an eagerness This is a good place to meet investors. first time entrepreneurs, who exhibit the much needed hurry and to get some feedback on your project. We do understand that you are not looking for investment today. But energy. Mentors at TiE and The Chennai Angels, who provide Smart you will tomorrow! Conventions don't come around when you want Capital, have great many stories to share. We are also beginning to see This is a good place to get new ideas. funding. So, it is always a good idea to be on the radar of investors. investors of all hues – Angel, Venture, Private Equity, chase and hunt As others talk about their projects, you will find that that several ideas Several of our TIE members are also members of the Chennai Angels. down interesting ideas, a very di erent scenario compared to entre- that they are implementing could be equally workable in your own There are several independent angel investors around as well. And of preneurs politely demanding time from the investors. project. Show an eagerness to understand and a curiosity and you will course, there are the Venture capitalists. Expect to see at least a dozen go back a wiser person, with several fresh ideas for consideration. of them at TIECON. Feel free to walk up to any charter member, and We in TiE believe that it is better for capital to chase ideas and entre- Getting fresh ideas happens when you network and show as much request him to introduce you to a couple of investors. And don't forget preneurs than the other way. We welcome you to see such a chase as curiosity about others as they show about you. One day is barely that 30 second elevator pitch. Network, network and network. We look TiECON presents Opportunities. forward to seeing you at TIECON Chennai 2011! Seizing the Opportunity Taming the Sea of Certainty by Kiran Mazumdar Shaw by Gopal Srinivasan to adapt to radically di erent regulatory and quality system, not to This year’s TiECON list of nominees,are all For Kiran Mazumdar-Shaw, oppor- mention gestational timelines for developing biopharmaceuticals entrepreneurs who whether young in age tunities did not come her way. She being an order of magnitude di erent to enzymes. This helped Biocon or not, are young at heart. For they still went after them. grow! dare to dream – dream of making an impact, of bringing in a change and a She wryly says, “I was rejected as a Kiran Mazumdar points out that “scaling up home grown technolo- lasting revolution that changes the face of brewer owing to my gender so I gies, addressing international regulatory challenges, bringing a novel the industry. decided to become a biotech entre- cancer drug to the market, going public, divesting our enzymes Drawn from across TamilNadu, they realise that they operate in preneur.” An accidental encounter business and most recently, divesting our first overseas acquisition in uncertain times, and that their challenges are double-fold. Not only with an Irish biotech entrepreneur Germany which was something that we recognized as a error of judge- must they forge ahead and penetrate the local markets, but also led her to founding Biocon, India’s ment in hindsight but which the markets appreciated when we exited” educate the market, expand it, and in some cases, go beyond the first biopharmaceutical company, in a garage in 1978 with a capital of were key business challenges. boundaries. And for this, their only mantra is innovation. Whether Rs. 10,000. small, medium or large, they are not here for the sole purpose of “My vision for Biocon”, in Kiran Mazumdar’s words, “has always making their venture a success. They have a larger socio-economic Starting with industrial enzyme manufacturing, Biocon has morphed been about creating global impact through products and services that agenda, of seeing ‘Made in India’ respected again. into a fully integrated biopharmaceutical company and a research make a di erence to patients and healthcare systems the world over. focus on oncology, diabetes, and autoimmune diseases. Of the initial A ordability and accessibility are core to this mission.” challenges, she explains: “It wasn’t easy to convince conventional thinking brewers and distillers to adopt enzymes but over time, I was She believes, “TiE has become an internationally recognized resource able to get them to use and benefit from enzymes.” for entrepreneurial talent and provides an incredibly diverse network- ing platform that allows young and aspiring entrepreneurs to reach The strategy Biocon adopted then was to customize enzyme cocktails out to mentors and successful entrepreneurs across the world.” It is with pride that we announce the TiE Chennai Entrepreneur for many industries. Then, Kiran Mazumdar spotted an opportunity Awards at TiECON Chennai 2011, on November 24, 2011, where great that took Biocon to what we know it today. She elaborates: “Biophar- minds meet and share ideas. maceuticals caused me to make a major transition from industrial enzymes in 1998.” In transitioning to biopharmaceuticals, Biocon had TiED Up! The Giving Entrepreneur by Jayaram K Iyer. Prof. LIBA Contrary to my earlier perception that entrepreneurs are rational, is addictive” says Lakshmi Narayanan; “if we are in some way self-benefit maximising and little capable of altruism, I find many connected with others’ successes, it is all the more joyful. I get joy TiE Chennai members, all extremely busy in their business, out of seeing success and therefore help in creating success.” contributing selflessly to TiE Chennai, and in turn to the entrepre- Ramaraj “I am so happy that so much has been accomplished here neurial ecosystem. in TamilNadu; it also provides me a great optimism to think how much more can be done. It is magical.” What all do they do? Here’s a sample: • Organise innumerable knowledge building sessions, educa- tional programs, unconferences, etc., for young entrepreneurs and start-ups. • Judge business plans from LIBA-TiE Chennai Business Plan Com- petition “Espire” and other competitions. • Play key roles in organising the mammoth TiECon, the flagship conference. • Identify and manage Entrepreneurial Awards that celebrate and recongise successful entrepreneurs. • Mentor and support entrepreneurs/enterprises that face inevita- ble long and lonely days • Help find suitable investors either one on one or through specific events Why do they do it? I recall the words of Martin Luther King, Jr., ‘Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness.’ I think our TiE Members have chosen to walk in the light. If you ask them, many of them say simply, “It is a social call. This is my way of giving back to society What adds to the unique flavour of TiE? TiE Chennai is the only A project by forum that focuses on entrepreneurship issues and it is only here that get to promote several businesses. It is a band of like-minded R a m a n u j a n I T C i t y, T R I L I n f o p a r k L i m i t e d , R a j i v G a n d h i S a l a i (O M R ), Ta r a m a n i, C h e n n a i 6 0 0113 . people. The combined energy makes for more meaningful activi- Te l: +91- 4 4 - 6 4 61-2670 | w w w. r a m a n u j a n i t c i t y.c o m ties and results in individual and collective fulfilment. This project is developed by Tata Realty and Infrastructure Limited (TRIL), Indian Hotels Company Limited (IHCL) and Tamil Nadu Industrial Development Corporation Limited People such as Ramaraj (ex-Sify), Lakshmi Narayanan (Cognizant) (TIDCO). and Gopal Srinivasan (TVS) are role-models for several others. “It