Compare with the best in the world, NR Narayana Murthy tells entrepreneurs at TiECON
The flagship event of TiE Ahmedabad witnesses insightful panel discussions and talks by a galaxy of corporate leaders, entrepreneurs, and investors.
Ahmedabad: Comparing yourself with the best in the world may be difficult but is a key attribute to building a successful company, NR Narayana Murthy, one of the founders of Infosys, said on Saturday.
Mr Murthy, who has been described as the “father of the Indian IT sector”, was addressing entrepreneurs, startups, and investors at TiECON 2022, the flagship event of The Indus Entrepreneurs (TiE) Ahmedabad.
“It is my advice to all the wonderful entrepreneurs here. Try and compare yourself with the best in the world in your field. Today, it may appear very difficult, very expensive, but I can tell you that nothing is as expensive as not wanting to reach the skies,” Mr Murthy said during a fireside chat with startup ecosystem veteran Sunil Parekh.
Mr Murthy, 76, said competence and values are the most important attributes for a startup.
“Competence is a necessary qualification, and values are the pillars on which the strength of a team stands. To build something big, you also need to create trust in people by demonstrating your commitment to values. I don’t know of any company that has demonstrated longevity without adhering to values,” he said.
Mr Murthy, who is credited with democratising wealth by distributing around 19% of Infosys’ equity, which at today’s price would amount to Rs. 1,20,000 crore, told entrepreneurs and startups that they live in an era when the power of entrepreneurship is being recognised.
Earlier, Jatin Trivedi, President of TiE Ahmedabad, said that Gujarat had been judged as the best state in startup rankings for the third consecutive time, alongside Karnataka and Meghalaya. “It is exciting to bring TiECON 2022 to Ahmedabad at a time when Gujarat is shining in the startup ecosystem,” he said, urging entrepreneurs and startups to treat any loss as a learning curve.
Organised on the theme of Entre’thon, the two-day TiECON 2022 brought together corporate leaders, entrepreneurs, academicians, investors and startups. It provided startups with a great opportunity to pitch their business model before marquee investors such as Venture Catalysts, Nexus Ventures, Unicorn India Ventures, Blume VC, and 100x.VC.
A number of panel discussions and talks on entrepreneurship in Gujarat, India’s startup story, startup funding, building new-age enterprises, and other insightful topics were also organised as a part of TiECON 2022.
In his address, Murali Bukkapatnam, Vice Chair, TiE, said the opportunities for entrepreneurs and startups are numerous and expressed confidence that India will play a big role in shaping the innovation of the global economy at an unimaginable scale. He also urged entrepreneurs to build their entrepreneurial journey such that they do not have to depend on anyone for funding. An MoU was also signed between Venture Catalysts and TiE Ahmedabad on occasion in the presence of BJ Arun, Chair, TiE Global Board.
