Date:16/10/2004 URL: http://www.thehindubusinessline.com/2004/10/16/stories/2004101601870500.htm

Back Network to help entrepreneurs mooted

Our Bureau

New Delhi , Oct. 15

A NETWORK for entrepreneurs was mooted at the Global Forum for Knowledge Economy that took place in the Capital on Friday.

Speaking on the occasion, Mr Pheroz Vandrevala, Executive Vice-President, Tata Consultancy Services, said, "It would be a good idea to set up a forum which provides an opportunity to build a network to help entrepreneurs. Businesses will help only if it makes commercial sense."

He was responding to a question from the floor on how they think India can help other developing countries.

On the challenges for funding a good idea, Mr Vandrevala said it was important to create a long list of potential collaborators and that one must go through the process of evangelising till credibility was established.

He pointed out that in future all developed economies would face a working population shortage and this is where the developing economies will have an advantage. Pension systems and social security systems are in a mess in the developed countries, longevity is increasing due to technological enhancements.

He also highlighted healthcare and telecom as being the areas of opportunities for developing countries. He said that most healthcare problems are in the developing countries, but research is taking place in the developed countries.

Mr Klaus Plate, CEO, Technologie Park, Germany, said, "What is important for a developing economy is minimum Government regulation, incentives, may be, in the initial stages and private investment to develop a new economy."

He said infrastructure, technology systems etc., are the hardware of an economy and services are the software. Relying on public money in the long-term will not lead to sustainable businesses. He felt that the knowledge economy was not about infrastructure but about people and knowledge. Business will go where people are and people will go where they find it worth living, he pointed out.

The conference was jointly organised by the Federation of Indian Chambers of Commerce and Industry, Department of Science and Technology, Government of India and the World Bank.