Tag: Dr Ajay Kela

Business

Wadhwani Foundation salutes startup and SME entrepreneurs for converting the pandemic challenge into a lifetime opportunity

Aug 19, 2021 by Rekha Nair 0 Comments #Dr Ajay Kela, #President and CEO, #Wadhwani Foundation

India: On the occasion of World Entrepreneurs’ Day, the global not-for-profit WadhwaniFoundation salutes the indomitable spirit of entrepreneurs who have risen to the challenges posed by the Covid-19 pandemic resulting in a strong bounce-back that catapulted a record no. of startups to the unicorn club and also resulted in a record no. of M&A deals.

Celebrating the World Entrepreneurs’ Day, Dr Ajay Kela, President and CEO, Wadhwani Foundation, said, “With 21 Indian startups achieving the unicorn status in 2021, it is heartening to see that the Indian entrepreneurs converted the pandemic challenge into a lifetime opportunity. They did this by aligning their solutions with the behavioural changes of their customers, be it doctors and patients, teachers and students, retailers and consumers, organizations and employees, etc. As a result, India saw its first-ever unicorns in healthtech, e-pharmacy, and social commerce space. Wadhwani Foundation salutes startup and SME entrepreneurs that are accelerating the economic development of our country and creating much-needed good jobs. The Foundation endeavours to help these entrepreneurs realize their full business potential through year-long hands-on training and lifelong support via an AI-empowered 360-degree platform that proactively serves customized knowledge and network resources.”

In a nutshell, startup and SME entrepreneurs found new-born opportunities in challenges to ensure the growth of the Indian entrepreneurial ecosystem in 2021 and are now beginning to reap the benefits of perseverance, seeing the transition from stabilization to growth.

With digital-focused business models, data-driven business decisions, investment in new technology and increased focus on innovation, the future points towards unparalleled growth for the Indian entrepreneurial ecosystem at large!

Business World

On the occasion of Women’s Entrepreneurship Day 2020, Wadhwani Foundation salutes the indomitable spirit of female entrepreneurs in the country

Nov 18, 2020 by Gouri Achary 0 Comments #Dr Ajay Kela, #female entrepreneurs, #Wadhwani Foundation, #Women’s Entrepreneurship Day 2020

Wadhwani Foundation, a global not-for-profit championing the development of a vibrant entrepreneurial ecosystem in India and other emerging economies advocates the importance of fostering women entrepreneurship in India by adopting measures that will tap into the enormous untapped potential of new women-led businesses.

Only a quarter of India’s workforce is female as against a global average of 49%, and it is clear that India’s growing entrepreneurial landscape has left behind a key demographic – women. It is the need of the hour to unlock the untapped potential of women entrepreneurs by providing them with a support system comprising of an integrated policy framework with equal focus on rural India, women entrepreneurship programs tailored to the unique constraints and skill requirements of women, more gender-responsive financial sector and conscious integration of the formal and informal networks. This could spur economic and job growth of massive proportions.

Says Dr Ajay Kela, President and CEO, Wadhwani Foundation, “Of the 63 million MSMEs in India, only six per cent are women-led, a criminal waste of talent. Growth driving, business-friendly skills such as relationship building, emotional intelligence, and multitasking are second nature to women. Leveraging these unique capabilities and the massive untapped capacity where only 25% of the Indian workforce is women could add $700 billion to India’s GDP by 2030.”

There is, therefore, a huge opportunity to empower women in India to choose entrepreneurship by creating networks that promote an ecosystem to motivate and support women entrepreneurs in taking the leap of faith by providing training in the nuances of entrepreneurship like the initial critical tenure of starting up, the importance of mentoring and optimal use of necessary resources to remain lean, and making technology accessible.

Simultaneously, it is equally important to celebrate the fearless breed of women entrepreneurs who have made it big as role models for inspiring women towards entrepreneurship and facilitating a major mindset shift. With women comprising just 14 per cent of the total entrepreneurial base in India, this is India’s big chance to tap into the precious resource of women entrepreneurs so as to realize their true potential. Leveraging India’s vast talent pool of women and not allowing it to be frittered away, especially at a time when businesses are facing a severe talent crunch could be transformational for the Indian economy and job creation.

Business World

Wadhwani Foundation salutes the spirit of entrepreneurship on the occasion of World Entrepreneurs’ Day 2020

Aug 20, 2020 by Gouri Achary 0 Comments #Dr Ajay Kela, #President and CEO, #Wadhwani Foundation, #World Entrepreneurs’ Day

August 20, 2020: On the occasion of World Entrepreneurs’ Day, Wadhwani Foundation, a not-for-profit with the mission of accelerating economic development in emerging economies by driving large-scale job creation through entrepreneurship, innovation and skills development, salutes the startups and entrepreneurs hit badly by the COVID-19 related business slump and the National lockdown.

The Foundation gives guidance on how startups should ensure liquidity and slow-down the burn rate while diligently planning for an 18-month runway. Also, it strongly recommends that startups should not

waste the crisis, as it provides an unprecedented opportunity to pivot to new businesses and diversify into growth verticals like healthcare, emerging tech, online education, grocery delivery and e-pharmacies.

On the occasion of the World Entrepreneurs’ Day, Dr Ajay Kela, President and CEO, Wadhwani Foundation, has a few words of advice for startups and entrepreneurs – “The COVID-19 disruption has created a once-in-a-lifetime opportunity for entrepreneurs and startups. Behavioural changes of doctors and patients, teachers and students, retailers and consumers, companies and employees, policy evangelists and policymakers, etc., which would have taken years, have changed overnight and will become the new normal. New entrepreneurs should build solutions that align with these new behaviours, and existing entrepreneurs have the advantage of having started the journey to pivot quickly. Data suggests that the best time to start a company is during a crisis. This pandemic is the mother of all crises, hence, also offers the mother of all opportunities. Please don’t waste the crisis, start something new or pivot to the new norm, and I wish you the very best.”

Most of the sectors, barring a few, will struggle due to the declining demand and low consumer sentiment. Hence, this is the time for startup entrepreneurs to preserve cash, get nimble, be ready to pivot to meet new customer needs through change and innovation, and not hesitate to seek help.