DARE - Because Entrepreneurs Do

With the seed money of Rs 1.8 lakh, which included a loan from my provident fund and personal savings, I and my 5 fellow founders became distributors for Microcomp calculators. By 1976, we had created a sum of Rs 20 lakh, with Rs 5.25 lakh contribution from the UP Electronic Corporation.

It was a sort of first, being a Public-Private Partnership, as it was then easier for PSUs to get a license to do business. The company was formed as a ‘private limited’ company with the Uttar Pradesh Government holding a 26 per cent stake. By 1981, the UP Government held only 10 per cent, and by 1986, HCL bought the rest out.

Before starting HCL, did you work anywhere? Why did you choose the field of technology to start your business?

My journey began with DCM in 1968, which was among the country’s top 5 industrial groups, in its textile division. My mentor, Vinay Bharat Ram, the DCM scion, asked me at the age of 23 in 1971 to head the new electronics wing – DCM Data Products. DCM’s data products division was already doing some interesting work for the 4-bit microprocessor-based desktop calculators, which were the precursors to the computing machines of today.

At the time of the advent of the 8 bit microprocessor in the 1970s, many people left their jobs, including Steve Jobs, Bill Gates – as they believed that the microprocessor would change the world, and it did. This bunch also included me and my fellow founders.

After conducting robust researches we were faced with a choice of getting into biotechnology or building computers. The possibilities were endless; however, coming from a strong engineering background, technology was a natural pick. As things turned out, biotech is yet to take off as significantly as IT did and today we have managed to build a successful IT powerhouse which is still growing.

What is needed to start an IT company – money, good team or a good idea?

There are two things which I feel are imperative to build a company – the spirit of entrepreneurship and a strong vision. An entrepreneur has an ability to pick signals from the future and fold them into discernible projects today. Entrepreneurial ability is more significant than executive ability. Money can be raised, teams can be hired; however, entrepreneurial skill is the key driver of the vision.

Are there any initiatives you are sponsoring to promote entrepreneurship for your countrymen? The sponsorship need not be only with respect to funding but can be sharing your entrepreneurship wisdom for start-ups or can be academy of mentorship for budding entrepreneurs. What’s your views on this?

Problems of raising leaders / entrepreneurship range from the very basic (malnutrition, sanitation, access to education, infant and maternal mortality) to the much more complex (terrorism). As a social entrepreneur, one has to choose an area you will be most effective at and which is close to your heart.

I am a product of education and I have felt its power in transforming my life. Therefore I established the Shiv Nadar Foundation with a vision to give back to the society what it had given me. Under the Shiv Nadar Foundation we established the SSN Institutions – which has already become a top 10 private engineering college of India; and VidyaGyan – which is a radical concept to provide world-class school education to meritorious students from extremely challenged backgrounds.

Besides the above, I do commit my time at The Indus Entrepreneurs (TiE), and while it cannot be the foundations’ sole focus, I do regularly interact and share my learning with budding entrepreneurs virtually and at forums. It is always a deeply touching experience when I see these growing leaders reflect the same spirit, as I did when I kick-started my journey with HCL.

What made you turn your attention towards philanthropy?

I believe philanthropy is a genuine state of mind. It is a state that one arrives at when one feels empowered and equipped to fill the gnawing gaps in the existing system. Though government and its aided functions have the primary responsibility for the caretaking of its citizens, it is increasingly seen that certain areas of focus – like research in healthcare, technology aid, or education – need private intervention for greater impact.

By their nature, government and its functions have limited ability to implement efforts, for they are mired with several other priorities. This is where we need to step in. Corporate organizations are recognizing the larger and more important role they need to play in transforming India – an emerging economic powerhouse – than just running a business. This indicates a greater recognition of the overall development, empowerment and transformation for any economy’s sustainable progress and success.

Today everybody realizes that education is vital to reap our demographic dividend and the need is to create an enabling environment for the underprivileged.

The Shiv Nadar Foundation has embarked upon providing transformational education to meritorious students who are challenged by limited means. Our strategy is to empower these students intellectually, socially, and physically to outgrow their circumstances and make a mark in the world. We envision these leaders to then go back to the roots they came from, and uplift their communities by giving them the same opportunity as they are being given now.

Source: CIOL (www.ciol.com)

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