5th International Entrepreneurship Conference – 7 Feb 2013

"Entrepreneurs as Disruptive Innovators"

The international entrepreneurship conference this year, organized by the Great Lakes Centre for Innovation and Entrepreneurship (CIE), under the auspices of the Orchid Pharma Center for Excellence in Management of Technology, Innovation and Technopreneurship [OPCET], has “Entrepreneurs as disruptive innovators” as its theme and shall be held on 7th February, 2013.

Disruptive Innovation is all about Reimagining Competition - bringing new customers into an existing market or creating consumption from a non-consuming segment.  The new entrant should be able to provide the reimagined product or service at a low price point profitably by using a business model that is not attractive to the established leader in the market.

‘Disruptive Innovation’ makes it possible for simple, affordable, and accessible products/services to replace ones that are complex, expensive and inaccessible to a large section of Indian consumers. Classic examples from India are: 
  1. 1. Dr. G. Venkatswamy disrupted the eye care system at Aravind Eye Care through innovation for high quality, high volume and low cost eye surgery for cataract. His innovation was to design a system that standardized a complex eye care procedure to a simple process and reduced the key skills and discretionary elements to a minimum. The critical success factor was the application of a process across a high volume of production.

  2. 2. Mr. C. K. Ranganathan’s sachet marketing innovation that made shampoo concentrates affordable and accessible to millions of non-users in India. He used customer insight to develop concentrated formulation of shampoo in 4 ml pack and made it available at 50 paise per pack. Micro-selling is now widely practiced by FMCG industry across the globe to reach the unserved, cash-strapped customers.

  3. 3. Mr. G. R. Gopinath’s  Air Deccan transformed the Indian aviation business and seduced non-flier middle class families to take wings. In a short span of time, Air Deccan innovated in the Indian context of low penetration of internet and credit card, poor infrastructure, rigid and inflexible rules and regulation by tapping Indian talents to provide low-cost, no-frill flying experience. He went beyond the metro airports and connected 60 airports, including 30 airports with first time aircraft landing.

  4. 4. Most recently, at Narayana Hrudayalaya, Dr. Devi Shetty has focused on affordable, accessible cardiac care to low disposable income millions through cost-cutting, efficiency enhancing innovation for high quality high touch patient care. By 2017, Dr. Shetty envisions expanding from the current 5000 hospital beds to a pan-India coverage with 30,000 beds.

  5. 5. In the corporate sector, we witnessed disruptive innovations in Tata motors (NANO concept), Godrej (Chotukool ideation), Airtel and Reliance communications, ITC and HUL (Channel and segment innovations like e-choupal, shakthi etc.) etc.

Conference highlights:
  1. 1. A video message by Dr. Clayton M. Christensen, Professor at Harvard Business School and the architect of and the World’s foremost authority on Disruptive Innovation. He is ranked no. 1 in the Thinkers50, the global ranking of business leaders created by Des Dearlove and Stuart Crainer.

  2. 2. Guest of Honor Ms Padma Chandrasekaran, angel investor - Chennai Angels, Serial entrepreneur (co-founder Sify, Co-founder Vergitech); Panelists Mr Alok Goel, Chief Products Officer, RedBus; Mr Rajesh Nahar, CEO & co-founder, CBazaar.com; Mr Manivannan, CEO, Desicrew; and Mr Mohan Lakhamraju, vice chairman, Great lakes Institute of Energy Management & Research. Valedictory speech by Dr K Raghavendra Rao – founder, Chairman & Managing Director, Orchid Pharma.

  3. 3. The Unconference session, continuing from its introduction last year will also take place. An Unconference is a participant driven meeting without the rigidness of a structured, conventional conference. The unconference format is based on the premise that in any gathering the people in the audience - not just those selected to speak on stage - have interesting thoughts, insights and expertise to share. This session would be anchored by the serial entrepreneur Mr. Pravin Shekhar, chief creator of KREA.

  4. 4. The Internal Business Plan competition on the same theme – which will have three winners, who will be given the, D V Narsingarao Memorial Prize, totalling to INR 2,00,000/- (Two lakhs only).
    Mr Narasinga Rao is a distinguished alumnus of great lakes, who was also the co-founder of the famous SSI Ltd. We lost him prematurely to Cancer two years ago. This prize in commemoration of his name has been instituted by his batch-mates and Dr. Bala V. Balachandran, our founder dean, to be given every year in this annual event celebrating entrepreneurship.

Student Achievements

Lokesh Aggarwal, Mamta Singh, Manish Ladkani

Winners, strategy-based event "Industry Inc." held at S.P. Jain Institute of Management & Research, Mumbai

Jivitesh Patra

Runners Up in Currency Wars- an online Forex trading event conducted by Arcturus, IIM Trichy

Abhash Nigam, Sathya Udayakumar, Shreya Sharma

3rd position in Circus Maximus event held by the Marketing Association at XLRI (MAXI)
during Ensemble 2012 at XLRI, Jamshedpur

Nandita Krishnan, Harish Vijayarangan

Third place, Quest, live case study competition, NMIMS

Arnav Talwar, Himanshu Varandani

Third place, Abhyutthan, Marketing competition, IIT Bombay

Kriti Dua and Sankalp Parihar

Article published as ‘Article of the Issue’ in Septmeber-October 2012 issue of TogetHR,
Magazine by IIM-Shillong

Binoy Varghese, Vishal Kumar Sinha

Article published on Will FDI Really Support Indian Economy, Reflexionar Management
Magazine, BITS Pilani

Gaurav Bhatia and Deepak Sharma

3rd position in the event NIYANT at National B-School event Milestone 35, IMT Nagpur

Sri Hariharan Subramaniyan

First place, Article writing competition, Marketing Cell of Masters of International Business
(MIB), Delhi School of Economics

Ruchika Salhotra and Ratnakar Srivastava

Article published in Reflexionar, October 2012 edition, BITS-Pilani

Kriti Dua & Sankalp Parihar

Regional Winners, 9th National Competition for Management Students, AIMA, Bangalore

Kriti Dua & Sankalp Parihar

Article Published in DSM Chronicle, Delhi School of Management

Himanshu Varandani

Article published in Markezine, October Edition, IMT – Ghaziabad