The pandemic has given a strong signal: entrepreneurs have to pivot or perish. This has opened up an opportunity for start-ups to drive disruption and innovation and build cost-effective businesses. Those who remain standing through such difficult times, have a higher probability of success.In this context, World Trade Center jointly with Kerala Start Up Mission organised an online discussion on how to turn a crisis into opportunity.
Uma Reddy, Managing Director-Hi Tech Magnetics & Electronics Pvt. Ltd, Bangalore
Yasmeen Jawaharali, CEO, Mauto Group Of Companies, Chennai
The discussion was moderated by Labby George, Sr. Fellow, Product Marketing, KSUM, Kochi.
The panel said that pandemic has given entrepreneurs the time to review-review internally and the direction of the progress made so far. Alongside it is also an opportunity to connect and re-connect. The speakers touched upon India’s opportunity to emerge as an investment destination. It was remarked that innovation is the key and learning to deliver as per changed consumer behaviour is the key. Start ups need not always chase funds, instead focus on the product/service and re-align the marketing strategies. The conversation stressed the importance of R&D for startups to evolve and survive a slowdown, where the speakers shared their real life experiences in a crisis situation. Clients have also gone virtual and deals are today closed online. Panel touched about job losses, reduced cash flow and work pressures, while working from home. The panel unanimously agreed that those with muliple skills are likely to be retained. Start ups and aspiring entrepreneurs attended the programme and participated actively in the discussions.
Dr. Bose Nair, VP-WTC also spoke.