Panel Discussion

“Leveraging Entrepreneurship Development through Emergent Technologies and Disruptive Innovation”

Rapid Technological Innovation and innovative applications are constantly creating paradigm shifts in Society and Industry. Start-ups and Entrepreneurs around the world are leveraging on these technologies to come up with new business models that are disrupting the traditional industries. Some of these technological trends include the emergence of mobile app ecosystems, Big Data analytics, Social Media, Digital Revolution, and Blockchain based decentralized trust mechanisms. Other major trends include the development of Augmented Reality, Drones, 3D printers, Virtual Reality as well as massive advances in Micro Electronics and its biomedical applications. Entrepreneurs around the world have been developing upon some of these technologies to solve some of the most basic societal problems and present business solutions that significantly provide value to the industry and the economy. In this process the focus is also shifting to solving societal challenges and environmental issues through initiatives such as circular economies.

India is not a leader yet in core technological innovation, but has seen a rapid growth of Start-ups bringing value-oriented innovations in the country. Being the third largest economy in the world, India should focus on technological innovations. However, there have been promising signs in the recent past with at least three sectors of the economy showing readiness for innovation namely Information Technology, Automotive and Pharma / Biotech etc. Initiatives such as Make in India, Digital India, NASSCOM 10000 Start-Ups in IT, the introduction of Nano and Reva electric vehicle in automotive and cutting-edge research in Pharma/ Biotech indicates potential exists for us to turn the corner. Also, the disruptions brought in by the global COVID-19 pandemic have created a huge impact on the overall business environment. Some of the industries that have witnessed break-through innovation include, the pharmaceuticals and healthcare, education industry and other service sectors to name a few. Technology and the extensive adoption of digitalization have revolutionized these industries for good. In the wake of the current pandemic situation, technology and digitalization have encouraged new age entrepreneurs to step up and innovate new techniques, services and products. With the sudden change in the market due to COVID-19, the businesses need to change their perspective on entrepreneurship. While some businesses have come to a standstill, there are a few opportunities that have knocked our doors. Investors are showing interest in funding potential COVID-19 solutions and also in industries that could thrive in the post- pandemic world. What is definitely needed is systematic and active support of policy makers and institutional stakeholders to make this trend pervasive.

In this Panel, we shall discuss some of these major emerging trends, and also how various stakeholders such as Universities, Policy Makers, Educators, Investors and the Society at large can incentivize further innovation. We shall also be exploring the success stories in the global and Indian context, and identify the strengths and weaknesses of the Indian Entrepreneurial Ecosystems with respect to innovation ecosystems in other parts of the world. In this direction, industries like healthcare, education, entertainment and other daily services can serve as catalysts of growth and lever the pent-up demand. The panel discussion aims to bring together leading lights from academia and industry to discuss the importance of innovation and entrepreneurship. Especially, the changes brought in by the global pandemic would be taken into account. This will largely impact us in the future and help us to ensure that we are moving in the right direction. Will this critical time enhance the entrepreneurial mindset and diversify our economies? Or will it further shake- up the global system? We can just wait and work on calculated assumptions.

The deliberations will help in the sharing of ideas and best practices to give an impetus to the essence of innovation and entrepreneurship for catalysing the new ventures and start-ups on technological innovation in the country.

Proposed Panellist: Distinguished Panel Members:

Dr. Munim Barai,
Professor, Ritsumeikan Asian-Pacific University, Japan, Panel Keynote

Dr. Balan Sundarakani
Associate Professor, University of Wollongong, Dubai

Dr. Prashant Salwan
Professor, Indian Institute of Management, Indore, India

Dr. Heinz Herrmann
Adjunct Professor and Deputy Director, Australian Graduate School of Leadership, New South Wales, Australia