The social climate has changed and a lot of this begins from there. I’m talking about the rise and spread of the Internet because of which a lot of information empowerment is there right at the beginning. We are empowered with digital devices, you know the digital ecosystem you consume content there and you’ll hear and read so much from different parts of the country and the world from the time you’re 18 or 17 or whatever and that influences your thinking your action.
So that’s a big factor that’s helping these guys, you know they take that decision early on in life, they are hearing about stories in the valley,they’re reading about stories that are happening in India about how more mature enterprises more mature entrepreneurs have set up and succeeded and they are saying why don’t I do it right now
Second is how we look at failure. How the market, how people in general look at failure is changing
It has changed considerably so I would actually say that in some pockets failure is seen as being cool. I really think failure strengthens you, it’s a great stepping stone to success right but this understanding has also seeped into the market into society, to some extent parents peers friends elders in the system are saying it’s okay just go out and do what you want to do
I’m not going to hinder their processes and actually be your friend and maybe support you. So that’s factor number two how we see failure.
Factor number two is also affluence so that’s also been on the rise by and large and that it gives people a certain cushion and says I’m not desperate to earn money now. I don’t have to really support people because for years and years and years you know millions of people have gone through that and that actually deters the entrepreneurial spirit really kills that right. If you have to bring home the bacon, support elders, many families are moving out of that and that’s helping these youngsters.
One last factor to some extent it’s not so big right now is the way colleges, the college
Management also see entrepreneurship. Slowly very slowly actually they’ve come around this view that it’s actually good. I’m seeing some bright spots there as some of the college managements are very progressive and so they’ve helped set up incubation centres. There they have counselling for
entrepreneurs students so that’s also healthy.