Fueling collective enthusiasm for innovation and growth

The Entrepreneurship Development Cell (EDC) of Apeejay Institute of Management & Engineering, located in Rama Mandi, Jalandhar, in collaboration with Startup Punjab, successfully hosted the ‘Sensitisation Programme for Ecosystem Enablers’. This event, part of the 4E initiative—Engage & Encourage: Ecosystem Enablers—was designed to enlighten ecosystem enablers, such as mentors, investors, and startups, about the significance of angel investment and to inspire mentors to invest in budding entrepreneurs alongside guiding them.

The event began with a warm welcome by Dr. Rajesh Bagga, Director of AIMETC. Dr. Bagga articulated the event’s objectives, emphasising the importance of uniting industrialists, entrepreneurs, and government representatives to inform, inspire, and fuel collective enthusiasm for innovation and growth. He highlighted the necessity of supporting new entrepreneurs during the early stages of their ventures to ensure their long-term success. Dr. Bagga also lauded Startup Punjab for their exceptional contributions to innovation and entrepreneurship, noting their recognition as the top performer in 2024.

The keynote speaker, Mr. Kundan Lal, former Assistant Director of the Ministry of Micro, Small and Medium Enterprises (MSME), Government of India, delivered an insightful address on the fundamentals of angel investment. He stressed the crucial need for early-stage support for startups, emphasising that financial stability involves not only funding but also judicious and resourceful expenditures. Mr. Lal shared success stories of renowned angel investors like Mr. Arjun Sethi, who has invested in companies such as Truecaller, Hike, and Questbook. He also differentiated between Micro, Small, and Medium Enterprises based on investment rates and turnover, and explained various financial schemes available through MSME.

Insights from Startup Punjab

Mr. Shyam Sundar, Joint Manager of Startup Punjab, elaborated on the key initiatives undertaken by the organisation. He outlined various government schemes aimed at boosting startups in the state, providing detailed information about the benefits and funding options available. Mr. Sundar also explained the registration procedures for these schemes and how startups can leverage these benefits for growth. Additionally, he emphasised the importance of innovation and the generation of new ideas.

Further, the event featured a dynamic panel discussion moderated by Mr. Vishal Sharma, General Secretary of the Jalandhar Management Association (JMA). The distinguished panelists included:

• Mr. Sudhir Gera, Director-Operations, Kirloskar, IEC Electric Power Ltd.
• Mr. Ahsan-ul-Haq, President, JMA
• Mr. Vishal Sharma, General Secretary, JMA
• Mr. Sanjeev Juneja, President, Auto Parts Association
• Mr. Shyam Sundar, Joint Manager, Startup Punjab
• Mr. Salil Kaplash, Coordinator, Startup Punjab

During the discussion, the panelists shared their perspectives on potential business sectors for startups. Mr. Sudhir Gera encouraged budding entrepreneurs to explore the manufacturing sector, highlighting India’s dominance in IT and the need to establish strong manufacturing industries. He cited the success of companies like Hero Cycles and Avon Cycles in creating opportunities for ancillary products and job generation.

Mr. Ahsan-ul-Haq emphasised the importance of preparedness, resilience, and accepting failure as part of the entrepreneurial journey. Mr. Sanjeev Juneja discussed the challenges startups face in scaling their businesses and the importance of leveraging government incentives. Mr. Vivek Rathour stressed the need to retain talent within the country to foster entrepreneurial ventures and curb brain drain. Mr. Vishal Sharma concluded the panel by summarizing the insights and perspectives shared.

Networking and Conclusion

The event facilitated valuable networking opportunities among participants, government officials, and industry stakeholders. Informal interactions enabled entrepreneurs to forge connections, share experiences, and explore potential collaborations. The event concluded with Dr. Bagga presenting mementoes to the speakers and guests.

In his closing remarks, Dr. Rajesh Bagga stated, “Our mission is to cultivate a thriving entrepreneurial ecosystem where innovation and collaboration are at the forefront. By bringing together mentors, investors, and startups, we aim to create an environment where ideas can flourish and enterprises can succeed. We are committed to supporting budding entrepreneurs through every stage of their journey, ensuring they have the resources, knowledge, and guidance they need to thrive. Together, we can build a future where innovation drives economic growth and societal progress.”

The Sensitization Programme for Ecosystem Enablers proved to be a significant step towards fostering a robust entrepreneurial ecosystem, encouraging innovation, and promoting sustainable economic growth in the region.