“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 Wise Views Interactive Webinar Series conducted on September 17, 2021 by ICFAI. He was speaking on the topic “The Indian Entrepreneur– Opportunities & Challenges in the new normal – Learnings from the journey of Career Launcher”.
Mr. Satya said that there are infinite opportunities for the budding entrepreneurs 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 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.
About the Speaker:
Mr. Satya Narayanan R: Satya is an entrepreneur, teacher, founder and Chairman of CL Educate, one of the few listed EdTech companies with presence in Asia, North America and Africa. The well known brands such as Career Launcher, Indus World Schools were founded by Satya. Satya is a much sought-after advisor on policy and governance in the areas of education and entrepreneurship.
Satya is on the MHRD steering committee 2019 on National EduTech Policy. He authored and chaired the New Education Policy for Delhi Government in 2014 that has transformed school quality education. He is a Govt. appointee on I&ECT Academy (A IIT Kanpur – Meity Project for cloud University). Satya has been a mentor-investor in young start-ups directly as well as through venture funds for over two decades. He is active in cross-border growth mentoring through South Africa Bootcamp, Yournest, Z5 (USA) and Z5-Wain Fund in India and Africa.
Satya is a published poet in Urdu and currently working on Sanskrit to Urdu translations of great works by Kalidasa. Satya also serves on the board of Rekhta, the largest / non-profit organisation committed to promotion of Urdu. Satya studied at St. Stephen’s College and IIM Bangalore.
About ICFAI Foundation for Higher Education: The ICFAI Foundation for Higher Education is Deemed-to-be University under section 3 of the UGC Act 1956. ICFAI Business School (IBS) is a constituent of ICFAI Foundation for Higher Education. About 5,800 students are pursuing various programs in the Faculty of Management (ICFAI Business School), Faculty of Science & Technology (IcfaiTech), Faculty of Law (ICFAI Law School) and ICFAI School of Architecture, NAAC, an autonomous institute of University Grants Commission has also accredited The University with ‘A+’ Grade with an impressive score (institutional CGPA) of 3.43 out of 4.