“No mistake can kill an entrepreneur until he doesn’t lose his credibility” observed Mr. Satyanarayanan R, Founder & Chairman, C L Educate at the 22nd WiseViews Interactive Webinar Series conducted on September 17, 2021 by ICFAI. He was speaking on the topic “The Indian Edupreneur – Opportunities & Challenges in the new normal – Learnings from the journey of Career Launcher”.
Mr. Satya said that there are infinite opportunities for the budding entrepreneur and to be successful in their endeavors, they need to have the ability to integrate with the consumers and learn from their suggestions. He also stated that there are only 5,000 seats that are available in the prestigious IIMs across the country and all are not able to get admission into them through CAT exam. It means around 2% of the aspirants out of 2 lakhs aspire to get into the IIMs and remaining 98% of the lot need to apply again or look out for independent careers. A lot of them will look to make a mark of their own and entrepreneurship is the answer for that. Satya gave the examples of Whitehatjr.com and Zomato among many others.
Mr. Satya, further said, after independence India has seen tremendous improvement in the education sector and only one person has to be credited for that. That person is none other than “Indian Mother”. It is she who realized the importance of the education and year on year, our spends on education kept increasing. According to Satya China and USA spend about 15% on the education sector whereas Indians spends around 45% towards the same including books and other expenses. That means the parents also contribute in their own capacity towards education, he opined. Mr. Satya also asserted that we get highest ROI if we invest on education.
Speaking on the entrepreneurship, Mr. Satya believed that there is a huge opportunity for entrepreneur as there are 580 million people in the 5-24 years age group in India. “During the Covid pandemic all the businesses have made amends and adapted online methods to move ahead. The future looks promising in the new normal if the same approach is followed irrespective of the circumstances”, he added.
Answering to a query in the Q & A session, Mr. Satya said “Artificial intelligence and data analytics has made the life simpler in every aspect”. He gave the example of his own firm Career Launcher wherein one can attempt the Mock CAT exam through their portal to know what percentile the students are going to achieve in the main exam, based on their performance in the mock exam. The results are amazingly accurate, he added.
The webinar was moderated by Prof. R Prasad, Director – Academic Wing, ICFAI Group and Prof. Sudhakar Rao, Director – Branding, ICFAI Group.
About 250 participants including entrepreneurs, Research Scholars, working professionals from various parts of the country registered for this event which was also streamed live on the facebook.