Minister of Commerce & Industry of India Shri Suresh Prabhakar Prabhu was supposed to be the star attraction at this 1st edition of “Entrepreneur Business Growth Summit-2018”. Due to his ad hoc meeting, Shri Suresh Prabhu could not grace the occasion; however, his video message was encouraging to the attendees. Shri Vijay Kumar, Director, MSME-Development Institute Okhla, New Delhi inaugurated the Summit by light lamping ceremony. Joined by Anju Bajaj, Chairman PHDCC; Raunaque Mustafa, Vice President, IIML L-Incubator; Dr. Manoranjan P. Ram, Director Academics (E-learning), Amity University; Sanjay Choudhary, Chief Evangelist – Incuspaze;
Entrepreneur Business Growth Summit-2018 was presented by Confederation of Indian Micro, Small and Medium Enterprises in association with IIM Lucknow L-Incubator, Startup Buddy, NSIC, Startup India, Co-Founder (Exclusive Print Media Partner) and various other community partners under the leadership of Er. Santosh G., General Secretary, Confederation of Indian Micro, Small and Medium Enterprises and IIM Lucknow L-Incubator Team headed by Raunaque Mustafa, Vice President.
General Secretary, Santosh G. said “Operating a small business can be isolating at times, with owners often feeling like they go through their own, particular set of struggles. In actuality, entrepreneurs all over the world usually experience many of the same issues and are in fact eager to share those experiences with others. While networking locally is essential, business today is often done on a national or global scale. Professional business events allow you to get out of the office and meet people you might not have otherwise ever encountered”. CIMSME called upon “Replacement of Competition with Collaboration”.
”The Government has taken a lot of initiatives to promote entrepreneurship amongst the people and particularly youth. However youth is not aware of such schemes, an event like Entrepreneur Business Growth Summit may be a great platform to create awareness,” said Vijay Kumar, Director, MSME DI.
”A large number of young people generally remain unaware of the possibilities of starting new business enterprise as a career option for lack of suitable ideas and wherewithal. They need mentoring and information about choosing a business project and completing all required procedures to start a new business enterprise,” he said.
Raunaque Mustafa, Vice President, IIML L-Incubator in his Inauguration speech, “Valuations and funding is destroying innovation as a majority of the entrepreneur is busy chasing money rather than focusing on building an innovative business model. Valuation is the monetary value of the company and is projected based on hypothesis and assumptions. Before raising money from an investor, an entrepreneur needs to measure the value of the company as it largely defines the equity of the company an investor holds. Let’s build an innovative disruptive solution. L-incubator is committed to supporting startups through its world-class Incubator based out of IIM Lucknow Noida campus”.
Shri Kaushelendra Kumar, Nodal Officer – MUDRA and Startup India, SIDBI, New Delhi explained the audience on Startup India and MUDRA Loan scheme by Indian Government for Startups and MSMEs. 400+ participants were highly interested to reconnect further offline for availing the services from SIDBI.
“The Republic of Estonia has launched an e-residency programme, a transnational digital identity, available to anyone in the world interested in administering a location-independent business online. This programme is available to any business, startup or freelancer based in India. Under the programme, E-residents will be able to establish an Estonian company online within a day, administer the company from anywhere in the world, manage accounting records and declare Estonian taxes online, digitally sign and transmit documents and contracts, have access to international payment service providers and conduct e-banking and remote money transfer, all this from India” shared by Ankit Bahl, Advisor: Trade and Investments, Embassy of Republic of Estonia here at Entrepreneur Business Growth Summit, Mavalanker Auditorium, New Delhi.