Success stories always bring in positive reinforcement and confidence to pursue the relatively unknown path, and that's how the virtuous cycle of never-ending endeavours to create many such success stories kicks off!
We have so many such stories in the past that initiated this cycle of success.
N R Narayana Murthy, the famed and highly revered founder of Infosys, one-time undisputed leader of Indian IT Industry, has been one of such heroes.
The wealth Infosys created due to its generous Employee Stock Option Schemes, exposure and independence it gave to its employees and governance standards it set for itself attracted a lot of software talent, especially from South India. The testimony of imbibing at Infosys is the group — XITE, or Ex-Infosys Technology Entrepreneurs — which has some 50+ ex-Infoscians.
Most of them had quit the information technology bellwether in the past to follow their own dreams, following the example of Murthy, who left Patni Computer Systems and founded Infosys in 1981, along with six others. Similarly, MindTree, a mid-sized IT services firm founded by six ex-Wipro employees, is a legendary success tale of inspiration to imitate the leaders, now acquired by L&T Infotech.
The Indian IT ecosystem development around Pune and Bengaluru is the result of such success stories of Infosys. The critical difference in the success of Infosys and the like compared with TCS is the inspiration and confidence it gave to risk-averse, job-loving Indian educated middle class to venture on their own, especially because of similarity these people found between themselves and Murthy – family, education, linguistic and geographic affiliation.
Like an IT success story, Indian Badminton is one of changing mass perception of non-cricket sports in India. Even though Prakash Padukone has been one such hero, largely his daughter remained in the limelight and he could yield limited traction in the Indian Badminton era. It changed with the rise of Saina Nehwal and P V Sindhu. These two poster girls of Indian Badminton have stoked a ray of hope for many girls to pursue a career in the sports.
It is always important to highlight the background from which these success stories emerge for people with similar background to dream and make efforts to achieve such impossible feats. In a cricket-loving country, we have travelled a long distance from kids saying, “I will become Sachin Tendulkar one day” to now kids saying “I will become P V Sindhu, Saina Nehwal, Mary Kom, Anjali Bhagwat and the like”. We should celebrate, spread and imitate such stories for next generation to have wider choice of menu to work on.
From an online seller of books to $22 billion deal with Walmart in less than 10 years, is the blockbuster story of Flipkart and its founders – Bansal brothers. The Indian startup landscape was hardly in shape when the Bansals started with Flipkart back in 2008 and the word ‘startup’ was not so heard of.
Every Engineer in that period wanted to pursue MS from US, CFA, MBA and work with consulting, banks and MNCs shunning their core engineering and scientific skills. The Flipkart success story changed this trend with multi-billion dollar valuations, repeating the story of Infosys and in turn creating a slew of entrepreneurs who founded successful startups such as PhonePe, Cure.fit and Runnr. Flipkart’s thrust on a breakneck speed of growth is something ‘Flipsters’-turned-entrepreneurs have been able to learn and replicate in their stories. This success story of Flipkart was being watched very closely by all those sitting on fence who jumped on to this bandwagon with boosted confidence because of the belief that they can also become ‘Bansals’ and build ‘Flipkart’.
Additionally, rookie engineers started believing in their skill sets and gave a fillip to coding, engineering and entrepreneur talent across tier II and III colleges. Most IITians started opting out of the placement and wanted to work for Indian startups. We have come a long way from “Indian technocrats immigrating to USA” to “Technocrats turning Entrepreneurs and starting up”.
Now with #chandrayaan2, which almost ended up creating history, #isromissions and Mangalyaan success, we can hope to see another cycle getting kicked off – more parents encouraging their kids to become aerospace and rocket scientists, tremendous inquisitiveness and interest in the next generation in space science, entrepreneurs trying to develop related ecosystem and talent flowing into this domain.
The media attention, Bollywood impact and hence, awareness – now, almost everyone knows how the ‘Making of Puri’ logic helped Mangalyaan escape the earth’s gravity with minimum fuel -- the nationalistic mood and increased social respect for ISRO and people working there, overall significant government focus on space programmes in recent years will have a convergence impact on the way entire space talent and programmes are developed in the next decade.
We have come a long way from ‘Swades’ to ‘Mangalyaan’ where the Indian scientist working at NASA leaves the job to apply his knowledge to solve local problems to ISRO scientists working on Indian Missions shunning the jobs at NASA in the first place.
Globally, the billionaires have been pursuing the space ambition in private capacities. Elon Musk of Tesla has been at the forefront of these efforts with SpaceX, aiming to create habitation on the Mars. It is already one of the most successful private space players with commercial operations. Along with him, Jeff Bezos and Richard Branson have been working on making space travel affordable to every person on this earth. The space race is on with multi-billion dollar going into multiple projects. Indian entrepreneurs are not behind in this race. There are at least 10 startups working in this domain as per the below list.
I am sure that after the loss of glorious leader in the domain, A P J Abdul Kalam, an inspiration for many kids and young scientists, success of ISRO and its humble leadership with due awareness among all sections of society shall pave the path to usher in a golden decade for India in the space talent and ecosystem development.
Mandar Dixit is a corporate strategy professional and actively engages with the startup community across domains. Opinion is personal.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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