While the established business houses have struggled to keep their footing amid the COVID-19 induced recession, entrepreneurs have been the worst-hit of the lot. As traditional business models faltered, it became nearly impossible for them to explore new opportunities, but the summit offers a renewed hope for every struggling entrepreneur.
The art of entrepreneurship depends on a few important parameters to be able to bootstrap a business to success – Funding opportunities, Business development, Market Penetration, Technology transfers opportunities – the essential aspects to grow. But in today’s testing times, there aren’t many technology alliances, partnerships, joint ventures, talent and knowledge transfers, contract manufacturing, or foreign buyers available for the budding entrepreneurs. Furthermore, a lack of business platforms where entrepreneurs can find the means to run their businesses has added to the woes of the fraternity.
The business community sees this ‘being not in touch’ as a major problem. The reason – in the fast-paced progressive world of today, neither governments nor the market can afford to let the entrepreneurs continue to struggle or wrap up the business.
Most of the path-breaking unique ideas of recent times, which have captivated mass imagination, have come from maverick entrepreneurs who have built billion dollar entities right from an idea that solved a customer problem uniquely. Discouraging the entrepreneurial community means squeezing the pipeline of fresh ideas. However, the business community is aware of how entrepreneurs are scouting for ideas to revive their businesses and spirits both.
The TIE Global Summit, a three-day, 60-hour marathon event that starts from December 8th is a step in that direction. The Summit will be attended by the world’s leading strategic minds, powerful investors and 20,000 entrepreneurs. TGS 2020 is pegged to become the solution to the Himalayan challenges that entrepreneurs are facing today. There are a number of ways through which the entrepreneurs can expand their businesses, and generate resources to monetize their innovative and revolutionary ideas. TIE Global Summit plans to solve the foremost challenges being faced by entrepreneurs in the following manner.
Challenge 1: Slow Revenue Growth
Solution: Connecting Local Sellers to International Buyers
Indian Entrepreneurs will get a chance to connect with overseas buyers and sell local products with added value. Selling overseas usually brings more bang for the buck. In other words, local sellers can expect to sell at a premium to tap demand in overseas markets. If an Indian manufacturer is selling auto equipment to big brands locally, TGS 2020 will provide them an opportunity to sell the same products to international brands through its AI powered Match Making Solution. It helps them find global buyers on the platform and thus enabling the Make-in-India products sell abroad, enhance their revenues, profitability and geographical spread. Due to access to global customers their rupee effort yields a dollar return and growing their top-line multifold.
Challenge 2: Inability to Build Alliances
Solution: A shared networking space where budding businesses can connect and build alliances
One of the major problems faced by entrepreneurs is building alliances with renowned companies. The question is how an established business house will believe in the ideas of an entrepreneur whose company isn’t well-known. TiE Global Summit provides all the entrepreneurs the opportunity to converse one-on-one with global companies, build technological, market and strategic alliances.
Challenge 3: Unable to cope with Shifting Market Trends
Solution: Building go-to-market strategy and partnerships
Keeping the cash-flow running and the business well-funded is seen as the most important task of a founder today. However, many entrepreneurs end up unable to concoct a perfect link of funding and go-to-market strategy. A company may not succeed in attracting investments if it doesn’t have a proper go-to-market strategy to reach target customers. At the TIE Global Summit, entrepreneurs will not only be able to build revenue-based alliances, but also the go-to-market strategy. After such strategies, the Indian entrepreneurs can launch their products or services abroad, introduce a product to a new market, or devise a plan to connect with new customers.
Challenge 4: Inability to Enhance the Intellectual Talent Pool
Solution: Cross-border talent transfer between partner firms
In the early stages of an entrepreneur’s journey, however revolutionary the idea be, it is nearly impossible to afford cross-border talent transfer. However, such arrangements are key to keeping up with industry frontrunners, domestically and abroad. The TIE Summit is a place where cross-border talent transfer alliances can be forged. An overseas company can encourage an Indian entrepreneur to depute resources abroad and instead send a foreign resource to India in a talent exchange. Talent transfer is a vital step when building long-term partnerships with collaborative firms overseas. They also gain access to 500 mentors at the summit and ability to attract future board members.
Challenge 5: Limited Access to World Class Technologies
Solution: Technology Transfer between associated firms
Sometimes an entrepreneur has expertise in a subject, but doesn’t have the resources to arrange technology to implement the ideas. Similarly, an overseas company might have been spending a high premium for a technology that could be more economically availed from labor-intensive countries like India. TIE Global Summit gives big as well as small companies a chance to forge an alliance for technology transfer. Such a measure would not only reduce manufacturing cost, but it will also ensure the best utilization of resources.
Challenge 6: Struggle for funds when businesses need expansion
Solution: Funding for Growth and Expansion
An entrepreneur without lack of funds is like a beautiful care without fuel in its fuel tank – it won’t just move. The TiE Global summit has a solution for all entrepreneurs who are struggling with funding challenges by helping them access 200+ Global Investors (Angels/VCS/PEs) who are ready to invest if they find a suitable business idea or a business plan. Entrepreneurs can make a 8 minute pitch to attract investments and walk away with an offer for funding. This truly solves the cash flow, growth related issues faced due to lack of funds.
Watch: TGS 2020 – A Glimpse of What to Expect
TGS 2020: A Hotspot for Value Creation
At the core of the main objectives of the Summit is to help entrepreneurs not only overcome their challenges but also get a peek into new strategies, ideas, technologies through 200 sessions being conducted at the summit. With knowledge sessions, networking rooms for entrepreneurs to meet one another to transact business, matchmaking feature to meet potential buyers/sellers combined with investment opportunities makes TGS 2020 a hotspot for value creation.