'Funding system of budding entrepreneurs must be addressed well'

Mumbai, Dec 17 (UNI) It was important to understand the funding system for entrepreneurs, for Economic and Social Affairs former Under Secretary General, United Nations Nitin Desai said here today.

Mr Desai was speaking after inaugurating the three-day TiE (The Indus Entrepreneurs) Entrepreneurial Summit. He said, India had the ability to present a class of dynamic entrepreneurs and advocated the need for understanding what should be the funding system for the upcoming entrepreneurs. Further addressing the issue of connectivity, he advised the entrepreneurs to visit the incubation centres to spot opportunities.

TiE, which is a global not-for-profit organisation, is hosting the summit for the first time in India. The summit is likely to bring the country's budding as well as successful entrepreneurs on a single platform.

Entrepreneurs like K V Kamath (MD&CEO, ICICI Bank), Narayana Murthy (Chairman of the Board, Infosys Technologies Ltd) and the software firm's present CEO&MD, Nandan Nilekani, Vijay Mallya (Chairman, United Breweries), Kishore Biyani (Group CEO, Future Group) are likely to address the key sessions during the three day of the summit that will conclude on December 19.

Rafiq Dossani of Stanford and Asawari Desai, Director, TiE Global, presented a TiE Standford Report on seed capital, as TiE considers 'the availability of seed capital' to be the main issue for aspiring entrepreneurs as well as for building India's knowledge economy.

The theme for the inaugural day of the summit was 'Capital for Innovation'. SVB Global Head Ash Lilani, Bijou Kurien, President&chief executive of lifestyle&Luxury, Reliance Retail, Samir Sood, Head of South Asia M&A&Investments, Google Inc discussed the investment avenues in the three domains of technology, consumer services and media, entertainment&communications.

The summit will mainly focus on inspiring and educating Indian entrepreneurs as well as debating aspects that influence the entrepreneurial environment and opportunities in the Indian and overseas market. The speakers will exchange their case studies and other corporate stories among the participants.

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