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K. J. Somaiya Institute of Management Studies and Research, Mumbai

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'For Economy to prosper, a proper Start-Up Ecosystem is crucial' - Suresh Prabhu

Shri Suresh Prabhu, Railway Minister, UDAAN, third Entrepreneurship Summit, IIM Rohtak

Published : Monday, 12 December, 2016 3:58 PM

“For Economy to prosper, a proper Start-Up Ecosystem is crucial”- Suresh Prabhu

Hon. Railway minister of India Shri Suresh Prabhu said, “It feels nice that PM Modi’s initiative, ‘Start up India, Stand up India’, is bringing fruit, now that many premier institutes are promoting entrepreneurship through their own incubation centres.”

Shri Suresh Prabhu, Railway Minister, UDAAN, third Entrepreneurship Summit, IIM Rohtak

He was addressing the students of IIM Rohtak via a video message on the occasion of the third Entrepreneurship Summit ‘UDAAN’, on Sunday, 11th December, 2016. Playing with the name of the event, he added, “One must take off when the going gets tough. For an idea to succeed, it must be backed by will power.”

Shri Suresh Prabhu, Railway Minister, UDAAN, third Entrepreneurship Summit, IIM Rohtak

Recalling the factors that led to the inception of the courier service provider Delhivery, Mr. Bhavesh Manglani, COO and Co-founder, said that the traditional delivery channels were expensive and time consuming. “Backed by a robust and technologically sound supply chain, Delhivery aspires to fulfill all e-commerce consumption transactions in India”, he added. Talking about the importance of data analytics, he said, “Data Analytics is to B-School Grads, what IT revolution was for Engineers”.

Shri Suresh Prabhu, Railway Minister, UDAAN, third Entrepreneurship Summit, IIM Rohtak

Stating that the drivers are the primary customers of online cab service companies, Jugnoo Autos founder, Mr. Samar Singla said that, “Technology can be brought in to help the auto-rickshaw drivers, and they can surely contribute more than just ferrying people.” He added that, “Entrepreneurship is all about finding innovative ways to solve your own problems”. 

Shri Suresh Prabhu, Railway Minister, UDAAN, third Entrepreneurship Summit, IIM Rohtak

Chairman of Essel Group, Dr. Subhash Chandra, in a video message, said that, “Everything today is customized, it’s time for education to follow suit”. In an inspirational address to the young students, he insisted, “Know your interests and talent and align them with your business”.

Shri Suresh Prabhu, Railway Minister, UDAAN, third Entrepreneurship Summit, IIM Rohtak

Ms. Ananya Birla, founder Svatantra Microfinance and CuroCarte, said, “The economic disparity between the rich and the poor which is so visible in India was the inspiration behind Svatantra. Despite huge difficulties, the aim has always been to help bridge this gap”.

Shri Suresh Prabhu, Railway Minister, UDAAN, third Entrepreneurship Summit, IIM Rohtak

The event also saw the presence of Ms. Koel Dutta, Co-founder Tiekart, and R. Sreenivasan, Co-founder and CCO, Career Launcher. White Unicorn Ventures, Stirring Minds, One Internet and Doers Alley were the investment partners for the event and Pristine Cut was the styling partner.

Shri Suresh Prabhu, Railway Minister, UDAAN, third Entrepreneurship Summit, IIM Rohtak

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