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i5 Summit 2019: IIM Indore - Day 1

By : Guest on 19 August 2019 E-mail Print Report Abuse

Central India’s largest entrepreneurship summit—The i5 Summit 2019 began at IIM Indore on August 17, 2019. The two day event jointly organized by IIM Indore and IIT Indore will witness various events including Speaker Series, Panel Discussion, Entrepreneurship Workshop, Start-up Expo, Marketing Workshop and Chai PeCharcha.


The first day of the Summit began with the lighting of the lamp in the inaugural ceremony by Mr.AshwaniLohani, Chairman and MD, Air India and Colonel Gururaj, CAO, IIM Indore.


Mr. Ashwani Lohani then delivered the Keynote Address. He spoke about the cardinal rules of business essential for the success of any venture. Having been a part of multiple government organisations from the railway to the aviation ministry, he emphasized the utmost importance of human resources stating that “HR has to come from heart, not strategy” and people are the most important component in any organisation. Addressing the entrepreneurs in the audience, Mr. Lohani asked them to believe in the power of gut and work hard for their own sake, beating and bettering themselves and being fearless even when they are afraid. He ended the session with something that resonated with the audience, “ If you are committed to deliver, you will deliver.”


This was followed by the start of the Speaker Series with Ms.ShrutiShyamSundar, Marketing Head, Zee Entertainment who talked about the power of television.She stated that “the chains of habit(of watching TV) are too weak to be felt until they are too strong to be broken.” She spoke about the emerging demand for Indian soaps in India primarily because it engages people together. She spoke about the marketing and advertising strategy of Zee cinema, the oldest cinema channel in the entertainment industry,that launched a wide range of advertising campaigns to cater to a diverse audience. When you create a brand you have to create a brand promise” which Zee Cinema does the best.


This was followed by Mr. Prashant Sharma,Facebook who elaborated on the concept of “Zero Friction Future” which is based on reimagining consumer journeys. He made the audience imagine scenarios where one could test drive a new car without stepping out of their houses or one could type directly from their brains. He drove home the point that consumers have become impatient in today’s world and are not interested in the journey and they want things now. He spoke about the marketing framework where any business can be seen as a funnel comprising of different segments like awareness, consideration, intent and purchase. These segments are sometimes hampered by frictions which a business must constantly keep improving upon. He concluded the discussion by emphasising on the fact that how the consumer journey is a constant and circular process and lies at the heart of every venture.


The speaker series continued with Mr. Pranav Pai,3one4Capital who talked about how digitization has transformed the world and how India has benefited tremendously from it with millions of smartphone internet users which give start ups easy penetration into their everyday lives. He also talked about the trinity of Jan Dhan, Aadhar and mobile which has led to a sophisticated “India Stack”, a game changer for electronic payments and a jump start to a cashless economy. He concluded with a note on Digital Darwinism stating that the companies that invest in digital transformations will be the most effective, efficient and stay the longest.


The Start-up Expo was the highlight of the day, which had more than 50 start-ups sharing their innovative ideas on various themes like e-healthcare, ed-Tech startups,IoT and Social Media.


The second half of the day had a panel discussion moderated by Prof. Himanshu Rai with Mr.OP Singh, DGP UP Police; Mr. Pranav Pai, Founder, 3one4Capital, Mr.Rakesh Jain,; Mr.Abhishek Dubey, Founder, Muskaan Dreams”, as panellists. The topic for panel discussion was “Social Entrepreneurship.” The panellists talked about the extra factors like compassion and sustainability required for start-ups to be social entrepreneurship ventures. They also discussed how the ease of access of information is playing a role in providing a starting point for people looking to solve social problems.


The stage was then graced by the presence of Mr.O.P Singh who talked about the challenges faced and managing strategies adopted by the 2019 KumbhMela, where safety of the millions of people attending the event was of utmost importance. He talked about effective crowd management and how technology(apps and central control rooms)was used to leverage the gap between the previous editions and this one.


The Speaker Series continued with Mr.Abhishek Dubey who started the discussion by stating how social entrepreneurship has become all the more important in today’s world with 70% of the people who reside in villages and don’t have any access to technology. Mr. Dubey spoke about his dream of getting this segment of people into the mainstream. This dream is what cultivated into the synthesis of Muskaan Dreams by providing them with virtual learning tools. He ended the discussion with a thought provoking question in the minds of the audience, Will the people in villages who are already struggling to become a part of the mainstream, be able to cope with the upcoming changes in technologies like AI?


The event was then graced by Mr. Rahul Singh, founder of “The Beer Café” who spoke about his important acronyms and what is the purpose of life. He motivated the crowd telling them there is either a DO or a DON’T; the “trying” concept doesn’t exist.


The last speaker of the summit for day one was concluded by Mr. Anil Swarup, ex IAS servant, former secretary of coal ministry shared his insights and experiences while working with the government sector. He had a fun take on the transfers involved in civil services and also entertained the audience with his “shayaris.”


The first day of the Summit concluded with lots of enthusiasm among the young management minds and entrepreneurs. The day provided a platform for the participants not only to present their ideas to the stalwarts but also learn from their experiences. The second day of the Summit would have the most coveted event—GetFunded!; along with Chai PeCharcha and a Start-up Workshop. The speaker series would also witness experts like Mr. GiriBalasubramaniam and Mr. Kunj Sanghvi sharing their views on interesting topics. The day would conclude in the presence of Mr. SandeepAggarwal, CEO, Droom.

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