FLO Bangalore Chapter
SMES Big Ideas event
*The Talk – Big Ideas *
Part -1 Rise of Innovation and Entrepreneurship
Mr. Kamal Bali of Volvo Group introduced us to the world that awaits entrepreneurs of today- A wording changing at a dizzying pace with no constants and multiple variables.
- Opportunities are a plenty India is the 5th largest world economy& set to be the 3rd largest by 2028.
- Ease of doing business in India rises rapidly, the paradigm shifts in context challenging.
- Rapid urbanization will see 49 crore Indians move to cities – that’s 1.5 times the population of the USA moving from rural India.
- India will have 50 billion connected vehicles on road.
- Consumers will stop buying products. They are looking for solutions to their problems.
- These factors have deep-reaching implications that will hit the bottom line of every industry and sector. It calls for greater stakeholder collaborations to ensure survival.
- To succeed, Entrepreneurs today must predict tomorrows problems and provide sustainable solutions requiring skill sets that don’t yet exist at an affordable price. How’s that for a challenge!
Digital Disruption and How It Impacts You And Your Business
Mr Rajeev Banduni, CEO, Growth Enabler- used real-life examples to demonstrate that the future is already here! And it’s brutal
- 2016. One small algorithm replaced 100,000 Ph.D. analysts employed in 2008
- Of original, The FTSE 100 1984 just 28 of the original 100 remain listed.
- Startups turn Unicorns( 1 billion USD Valuation) and Decacorns ( 10 billion USD Valuation)in record time today
- Digital disruptors will lead; laggards will perish the Kodak way.
- Speed is the new currency of business
- Speed and Adaptability key to survival
- AI & other fast-evolving novel technologies are the Fourth Industrial Revolution, transforming economies and society at scale.
- Digital collaborations between big and small businesses are 1.5 billion USD potential
- 1 billion digital natives will join the workforce in next 7 years
Ecosystem Innovation – Where The Small Is Big
Mr Ranjan Malik of Primalise highlighted the role of business process innovations in value creation.
- Agility and personalized offerings of boutique companies
- Access to Vs Ownership of Physical, Economic, intellectual & Social assets driving value
- Humble and curious, they co-create with the market
- Adaptive and evolving to stay relevant to changing consumers
- Purpose focused – Eveready to leverage emerging technologies and value
- Insight is driven
- Offer elegantly simple solutions
- Responsive to ecosystems through innovative collaborations
- Being congruent Vs exploitative to stakeholders
- Authentic and true to the purpose
*The Talk – Big Ideas * Part -2
Highlight of the event was Idli Vada Coffee- The secret of success by PC Mustafa of ID fresh foods.
Mustafa was entertaining, insightful and inspiring in equal measure. He kept the audience in splits as he delivered few mantras for success with his trademark humility.
- Know your customer (housewife)
- Don’t replace her. Help her do her job
- Don’t overengineer
- Innovation is just Common Sense
His Rags to riches journey is one of engineering elegantly simple solutions to the common man’s necessities at a fabulous price point.
Shruti Mittal, President FICCI FLO
Bangalore brought the female perspective to – Dare to Dream
She focused on
- Teamwork,
- The power of persistence
- Firefighting skills As the key to succeeding as an entrepreneur ‘Firefighting skills are crucial to success. Have a plan B. The alphabet has 26 letters for a reason’ was met with thunderous applause from the audience.
Awards -Emerging & Inspiring Women Entrepreneurs of Bangalore
The FLO ladies made a clean sweep at the awards!
- Niru Agarwal, FLO member, Managing Trustee Greenwood High and Director at Salarpuria Sattva Group won the INSPIRING WOMAN ENTREPRENEUR AWARD
- Varsha Jeetendra of Express Feast, A start-up mentored by FLO Swayam initiative
- Mehal Kejriwal, FLO Member, Co-founder, Happy Milk won Emerging Women Entrepreneur Awards
