Slowdown best time for entrepreneurs

AHMEDABAD: Entrepreneurship, in the times of recession, was much promoted at the first-ever event dedicated to priv equity and venture capitalists held at the Indian Institute of Management, Ahmedabad (IIM-A) on Friday.

The two-day event, Leverage 2009, began on Friday with Mentoring Caf, a session where the faculties of IIM-A, Profes G Raghuram, professor PK Sinha and professor Ajay Pandey, interacted with entrepreneurs.

The session kicked off with the address by Professor BH Jajoo, dean of IIM-A. The event with theme ‘Venture capital an private equity: Investing and managing portfolios in distressed times’ consists of a business plan showcase event and a speaker series.

The session marked the release of the first magazine on venture capital and private equity called Leverage. Professor Jajoo highlighted the exponential growth of private equity in the last few years and the importance of an event like Leverage in the current economic uncertainty.

The guest speakers included Kanwal Rekhi, the cofounder of Inventus Capital, who delivered a lecture on – Entrepreneurship in hard times. He suggested that recession is the best time to be an entrepreneur. He explained that current environment, jobs are scarce, resources are cheap. He clarified that it is a misconception that funding is impossible in current scenario.

Rekhi encouraged the youth to lead from the front. He said, “Society needs a fine balance of discipline and indiscipline, stability and dynamism.

The second speaker for the day was Mohanjit Jolly, executive director of Draper Fisher Juvertson, India, said “A comm mistake made by budding entrepreneurs is believing that there is no competition.”

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