by Prashant Kapadia/NHN
Mumbai, February 21, 2018: TiE Global Summit (TGS), the world’s premier Entrepreneurial Leadership Summit, commenced in Mumbai at the J W Marriott, Sahar, Mumbai. Devendra Fadnavis, Honorable Chief Minister of Maharashtra, was a chief guest at the Summit that saw participation from over 2,000 successful entrepreneurs, industry leaders, leading investors (VCs, PE, Angels and Banks), senior corporate professionals and academia from India and all over the world.
Addressing hi-tech global entrepreneurs who have the potential to fulfill his future AI vision for Maharashtra at the TiE Global Summit, Shri Fadnavis said, “Our Honorable Prime Minister, Shri. Narendra Modi has set a goal of making India a $5 trillion economy by 2025. We believe with entrepreneurs like you, we can achieve that dream. Our goal is to make Maharashtra a $1 trillion company within the same time frame. The main expectation from the government is to ensure ease of doing business and that is what we are committed to doing. Maharashtra today ranks highest amongst all states in the country on these parameters. We are in the process of creating an ecosystem for entrepreneurs that will change the space and provide a level playing field and environment to grow with access to funds and incubators.”
In his keynote address, Tim Draper, Founder, Draper Associates & DFJ, spoke about the growing possible utilization of blockchain in our everyday lives. He also touched on the need to mainstream bitcoin as a currency that would have the potential to redefine healthcare and social security, while at the same time being a great leveler that a platform for good governance to succeed.
Speaking at the panel on ‘Indian Entrepreneurship: Scale, Substance and Sustainability’, Sanjay Nayyar, Managing Director, KKR highlighted the fact that India remains a country with a deficit of capital and technology and the need to adopt a best in class culture and values in companies to bring them to global standards. He also lamented the fact that India is yet to witness disruptors in traditional sectors such as healthcare and retail. In another session on ‘India Scaling’, Roopa Purushottaman, Chief Economist & Head Policy Advocacy, Tata Sons spoke about how Automation and Artificial Intelligence would be next big thing in the country. The session on ‘Emerging New India’ saw the speakers debate the need to nurture entrepreneurs from Tier 2 and 3 towns and cities to uplift aspirations and increase employability.
The day also saw sessions on ‘Virtual Reality: The next frontier’ and ‘Scaling through family offices’, During the session on ‘Bitcoin and Cryptocurrencies’, the speakers commented that bitcoins and cryptocurrencies could soon be the currency of the future as people would have more faith in corporate tokens since the customer experience would be better and governments would not be able to demonetize it.
In the session, ‘Healthcare in 2025’, Sangita Reddy, Joint Managing Director, Apollo Hospitals commented on how it is becoming increasingly important to not just treat physical ailments, but also the mental. She also advocated a need to re-strategize the insurance scheme launched by the government to ensure deeper penetration in the Indian context. Commenting on the role of big data in healthcare, she said it is assuming significance with more doctors relying on the insight provided to effectively treat patients. The day also saw early stage and growth stage entrepreneurs pitch their business ideas to the TiE Mumbai Angels for funding.
The Summit continues tomorrow with exciting sessions planned on ‘Building Unicorns’, ‘Social Impact: Exploring Innovative Financial Tools’, ‘Decoding Artificial Intelligence with Infinite Analytics’ and ‘Real Workhorses versus Mythical Unicorns’. The day will also see a fireside chat with ace investor Rakesh Jhunjhunwala, CEO, Rare Enterprises and ‘Serving the many India’s, the reality of Indian Consumer Internet’.
About TIE
TiE Global, is a not for profit organization dedicated to fostering entrepreneurship around the World. TiE strives to inspire entrepreneurs through mentoring, networking, education, incubating and funding programs and activities. Started in the year 1992 in Silicon Valley by a group of successful entrepreneurs, TiE has completed over 25 years of fostering entrepreneurship across the world. Today TiE has a network of 61 chapters in 18 countries and 13,000 members around the world. With nearly 2000+ events held each year, TiE brings together the entrepreneurial community to learn from local leaders, as well as each other. For more information, please visit our website at www.tiemumbai.org or www.tie.org.
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