I have been approached by few of my Indian friends since last year seeking advice to startup a business or do a joint Indo-Pak venture with them. Considering the relations between the country and money exchange issues, I have been quite careful.

Recently, one of my friends told me about the Power of Ideas organized every year in India. The promotional video (below) just blew me away and refreshed memories of initial struggling time I had while starting my first venture.

The Power of Ideas is the intellectual property of The Economic Times, India’s leading financial daily. In a unique three-way public-private-academic partnership, The Economic Times has joined hands with the Department of Science and Technology (Government of India) and the Indian Institute of Ahmedabad’s CIIE (Center for Innovation, Incubation and Entrepreneurship) to create a formidable force that can champion the cause of entrepreneurial culture in India. It leverages on the Government’s remit to encourage innovation and IIM-A’s demonstrated experience in mentoring and incubating start-ups.

The Power of Ideas encourages anyone and everyone with an idea to realize his entrepreneurial dream. Ideas will be polished and nurtured with personalized guidance from mentors and then incubated at IIM Ahmedabad, before being presented to the largest gathering of investors, besides some receiving an assured seed funding, courtesy the Department of Science of Technology, Government of India.

If you fall into the category below, you are eligible to participate.

•    Must be an Indian Citizen of 18 years or over currently residing in India.
•    Dreamers: Anyone who has ever cherished the idea of starting out on his own.
•    Entrepreneurs: Anyone who has just begun work on an idea even while he may be pursuing another day-time occupation.
•    Start-ups: Business enterprises headquartered in India; a standalone, not a subsidiary or division of a larger company.
•    Students: Pursuing their graduation or post graduation course in any stream
•    Corporate executives with a viable idea and keen to put their market experience to test

Though P@SHA, TiE Lahore, IEEE Lahore GOLD, Saif Center, Mr. Zia Imran, Dr. Zahir, Mr. Naeem Zafar and other many Pakistani Entrepreneurs have been encouraging, mentoring & supporting the young generation in Pakistan for quite some time, its the need of the hour that such initiatives are supported at Government and Academia Level. It’s good to see business institutes organizing Entrepreneurial Summits & Business Idea Competitions here in Pakistan but incubation is an altogether different process, giving more time for discussion in a different environment. In short, we need more of DOING at the moment rather than just presentation of an idea which most of the audience even forgets by the end of such events. Yes, you got me right. We need setups like Y Combinator here.

Telenor Pakistan has already taken a step in the right direction but we need more powerful stakeholders to join hands for a bigger movement. Also I would request management & business institutes in Pakistan to open up Incubation and Entrepreneurship Centers, introduce related degree programs and provide the opportunity to young minds for proper mentoring. This would in long term benefit our country’s economy.