“Entrepreneurship – Is it merely the assumption of risk and responsibility in designing and implementing a business strategy or much more? It is actually incredible force and Engine of growth”
Entrepreneurs—people within communities who organize, manage, and measure the risks of a business or enterprise—are essential to building the economies of urban and rural areas across the country. Rural areas conventionally lost their young people to big cities with more career opportunities. Eventually, the more businesses will create the more jobs, the more jobs, the better the economy, the better the economy, that outcome the better our life style.
We cannot deny the role of Young Entrepreneurs in building the improved economy. Young Entrepreneurs often try to bring new business ideas those are based on New Business Models and Emerging Technologies. However, Conventional entrepreneurs never try to become a pioneer in these markets. In fact, they try to follow other businesses and industry leaders to reduce the level of risk. I agree with them up to some extent, but the adoption of business strategy in limits is not always healthier for significant business growth.
Moreover, SHELL—a leading MNC in the Petroleum marketing sector has its Corporate Social Responsibility program, which focuses on spreading Entrepreneurship among youngsters. This vibrant program has title name “LiveWire” Globally, and in Pakistan “Shell Tameer”.
It primarily appreciates Young Entrepreneurs with eye-catching prize; 1000cc Car, Motor Bike, Lap Tops, and much more and also offers mentoring through Business Leaders and Business Experts. Shell arranges Shell Tameer Award each year; in which they receive profiles of Successful Young Entrepreneurs across the country. They mostly prefer those Entrepreneurs, who have some unique and unconventional kind of business in limited resources. For instance, they nominated their top prize to Taj Traders— a new Young Entrepreneur, who has Bangle making small unit in Hyderabad, along with it, he is exporting to USA, UK, and UAE, and contributing in country’s economy.
In addition to The Indus Entrepreneurs (TiE), a leading Non Profit Entrepreneurship Fostering Body, Which is based on Silicon Valley, USA, is principally focuses on spreading the Entrepreneurship globally. TiE was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently more than 12,000 members and over 1,800 charter members in 49 chapters across 11 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE’s focus is on generating and nurturing our next generation of entrepreneurs. TiE has created wealth & helped boost the economies of geographies in which it operates – it is estimated that over $200 billion of wealth creation has resulted from varied TiE initiatives. Besides its flagship event, TiECon – the largest professional conference for entrepreneurs, TiE now has a wide range of programs including Special Interest Groups (SIGs), TiE Institute, Deal Flow Meetings, TiE Young Entrepreneurs, and, most recently, TiE Women’s Forum and CEO Forum.
TiE have three chapters in Pakistan; Karachi, Lahore, and Islamabad. They are really very helpful for Young Entrepreneurs in case of Business Plan Competitions, Networking forums, Start Ups, Mentor-ships, Entrepreneurial summits, and much more. All these locals’ chapters are operating by renowned Entrepreneurs of the country.
What I believe is that Entrepreneurship is an incredible force. It is the engine of growth, jobs and opportunity and deserves to be celebrated. One Visionary Entrepreneur can change this World, for instance, Bill Gates, and some conventional entrepreneur with broad vision has spirit to achieve their Goals, I cannot forget to put name of the great entrepreneur from the Indus Region, yes off course, The great Late Dhirubhai Ambani, a founder of Reliance Group, who created enough wealth, and entered in Richest People List, It cannot be created in ordinary way in short span of time.
Moreover, I would like to draw your kind attention to shocking fact that there is no claimed Billionaire in term of Dollars in Pakistan according to Forbes Richest List. But our neighboring; India have four Billionaires in the list of Top Ten Richest People in the World. Pakistan’s major population comprises of Youth, and Young people should stand up, and Work on Entrepreneurship, which will surely create jobs, but also make significant contribution to the economy. We should keep the example of founders of Multi Billion Dollars Corporations; You Tube, Face Book, Google Inc., and numerous others; they are in the list of Young Billionaire due to their strong vision, and commitment. What they did, they turned the people’s problem into profitable solution. We youth as future of Pakistan cannot do? We people are as much talented and passionate than rest of the world. What is actually required? Is it Funds, Extraordinary Ideas, Management, or what else? I believe all the components are essential to take a successful start up.
I would like to conclude that World is Open to us, so Mentors, who are Successful Entrepreneurs in their respective field should guide Young Entrepreneurs, and teach skill of taking measurable risk with its implementation. Venture Capitalist should promote concept of Venture Funds in Major Cities, as well small cities of Pakistan, because, there is unmatchable potential in our youth from Middle class background. In this regard, TiE Local chapters, and Universities should take bold steps towards Fostering Entrepreneurship in the region. This can lead them into renowned producers of Entrepreneurs in the World.