- Karnataka entrepreneurs currently represent 15% of the All-India ASCENT Foundation Chapter
- The event was addressed by Archanna Das, Head of ASCENT Foundation followed by entrepreneurial peer-learning experience sharing by growth ready entrepreneurs like Ramani Mani, Managing Director at Load Controls India Private Ltd. Rohit Patravali, Director, Esteem Integrated Logistics Private Ltd and Suresh GP, Managing Director & Principal Consultant at TaUB Solutions
- The event was aimed at sharing the business story, key challenges and anecdotes from Karnataka based entrepreneurs along with highlighting how peer learning can benefit Karnataka based entrepreneurs
Bangalore, March 03: ASCENT Foundation, a not-for-profit, peer-to-peer learning platform founded by Harsh Mariwala, Chairman, Marico Ltd successfully concluded the virtual roadshow in the Karnataka market on Thursday. With the aim to boost entrepreneurial learning amongst Karnataka founders and business people, the media roadshow depicted stories of three Karnataka based entrepreneurs. ASCENT Foundation members from Karnataka namely, Ramani Mani, Managing Director at Load Controls India Private Ltd., Rohit Patravali, Director, Esteem Integrated Logistics Private Ltd and Suresh GP, Managing Director & Principal Consultant at TaUB Solutions shared their peer learning experience and its positive impact on their businesses.
ASCENT was launched in 2012 as a Mumbai chapter and onboarded entrepreneurs from Mumbai and the neighbouring cities. In 2018, the foundation extended the peer learning support to Tamil Nadu with the launch of the Chennai Chapter. In 2020, ASCENT has announced the launch of the All India Chapter and is now accepting applications from entrepreneurs from cities and towns across India.
ASCENT Foundation enables like-minded, growth-oriented entrepreneurs from across India to join the network of entrepreneurial peer learning Trust Groups. These cohorts enable founders to discuss their business and personal problems, opportunities, challenges, and obstacles for a solution-oriented approach by fellow entrepreneurs through non-competitive peer learning and sharing
Talking about the All India Chapter of ASCENT Harsh Mariwala, Chairman, Marico Ltd and Founder ASCENT says, “I am a strong believer in the power of collective and the huge role peer learning plays, especially among entrepreneurs. Experiential sharing and insights from like-minded entrepreneurs are critical in enriching the journey of the entrepreneur and the organisation. In the last 9 years, ASCENT has been successful in creating a holistic peer learning platform for over 800 SMEs and MSMEs and with the launch of the All India Chapter in April 2020, we are happy to extend this support to entrepreneurs from cities and towns across India. The geographical diversity that the All India chapter brings into the already diverse cohort expands the horizon to enable greater learnings and deeper discussions among entrepreneurs”
Karnataka market has shown exemplary interest in joining peer learning and sharing with entrepreneurs across India, especially metros. An overall increase in the participation from Karnataka entrepreneurs from Bengaluru, Hubli, Mangalore, etc has been witnessed constituting 15% of the All-India ASCENT Foundation cohort. The increase in peer learning interest is due to the trust of sharing and tackling business challenges amongst like-minded entrepreneurs.
Karnataka based entrepreneurs have utilized peer learning to successfully tackle some of the below mentioned predominant business issues existing in the market
Change in Customer demand:
Every sector’s demand and supply chain has been negatively impacted by the pandemic. Changes in operations as a result of the pandemic’s consequences, along with the ecosystem’s significantly shifting need, had an impact on demand and supply. Since these challenges are being tackled by entrepreneurs across India alike, peer learning helps in determining how to adapt to the changed demand pattern and ensure a robust supply chain mechanism.
Coping with Disruption caused by uprising Start-ups:
Tier-2 and 3 cities in Karnataka like Hubli, Mangalore, etc have seen entrepreneurs struggling to adapt to the disruption caused by start-ups like online food delivery, e-commerce, giants etc.
Having set-up their services and warehouses in these areas, the start-ups are disrupting the cost of hiring blue collar workers, scattering consumer demand, and causing tough competition in an otherwise traditional set-up. As entrepreneurs from metros have already adapted and adjusted to this a few years ago, their experience sharing comes in handy to tackle similar issues with robust proactive planning
Evolving hiring scenario:
The recruiting environment in Karnataka has grown extremely competitive, and the state is struggling to find and keep qualified employees. Getting and keeping employable talent is, without a question, a major issue for Karnataka’s businesses. People are transferring from the organized to the unorganized sector for short-term gains as a result of the disruption caused by incoming start-ups such as food delivery, e-commerce, and so on. Employee communication, meeting resource expectation and putting their well0being at the centre has become imperative, especially after the pandemic. As all businesses struggle with employee management at some stage or the other, peer learning enables developing the right approach towards managing employee retention.
Need for networking:
Coming from Tier-2, Tier-3 markets entrepreneurs struggle with restricted exposure and limited networking with like-minded people. This also has a negative impact on their growth strategy as they struggle to break away from being content as their fellow entrepreneurs from the similar market. All India entrepreneurial access and exposure enables these entrepreneurs to widen their horizon, plan expansion and be motivated to scale.
Extend support to other potential entrepreneurial hubs, beyond Bangalore:
Karnataka has garnered the reputation of being the country’s start-up capital, with Bangalore as its epicentre. However, for the overall economic push, the attention should be expanded to surrounding prospective markets like Hubli, Mysuru, Mangalore and others. Developments and reforms supporting and encouraging entrepreneurship in other markets will lay down a strong foundation for the state to become the hub for entrepreneurship in the country. Peer learning can play a key role in emancipating these regional entrepreneurs to learn and share with growth-oriented entrepreneurs from across India to widen their potential and enhance entrepreneurship in their markets.
Commenting on the conclusion of the roadshow Archanna Das, Head, ASCENT Foundation said
“Karnataka is on its way to becoming the country’s entrepreneurial hotspot with the right set of reforms, support and appreciation for all potential entrepreneurial hubs, beyond Bangalore. This can be achieved by ensuring cultural and geographical diversity along with the existing industrial diversity. Entrepreneurs from across Karnataka have shown increasing interest in peer learning from likeminded entrepreneurs which can enable them to tap into opportunities, especially after the pandemic. We believe extension of this peer support to more and more entrepreneurs from across Karnataka markets like Bangalore, Hubli, Mysusu, Mangalore etc will ensure motivation and enhancement of entrepreneurship in the region.”
