Webinar on “Entrepreneurship, Innovation and Sustainable Business” organized by UIAMS

Chandigarh: A Webinar on “Entrepreneurship, Innovation and Sustainable Business” was hosted by UIAMS department in collaboration with UBS, Chandigarh, UBS-Ludhiana and UIHTM management departments of Panjab University.

Dr. Naveen  Kumar  in his opening remarks talked that World is facing enormous challenges including ecological challenges, such as climate disruption caused by man-made greenhouse gas emissions, and societal challenges like Increasing Population and various forms of social injustice like social inequality etc. Businesses are resorting to these challenges in several ways from managing through the decline by adapting to limitations to more proactive, positive responses, including ones that champion business as a force for positive societal change. Sustainable businesses by way of addressing ecological and social concerns can foster numerous business opportunities that will benefit both the economy and society. Concept of 3Ps (Profit, People and Planet) has become all times more important in present scenario, and corporate house needs to embrace this concept holistically. Entrepreneurship and innovation are fundamental for the success of start-up companies that are providing innovative solutions to meet environmental or social challenges. Lastly he apprised that Companies undertake sustainable entrepreneurship for a variety of reasons ranging from profitability to enhancing brand reputation.

 Dr. Ashish Saihjpal, UBS-Ludhiana, Dr. Monica Bedi,UBS-Chandigarh and Dr. Naveen Kumar formally introduced the dignitaries among 200 attendees belonging to various PU departments and affiliated colleges of Chandigarh.

Prof. Raj Kumar, Hon’ble Vice chancellor, PU and Chief Patron of webinar thanked Keynote speaker Sh. Harjinder Singh Cheema, and congratulated organizing team including faculty from UIAMS, UBS-Chandigarh, UBS-Ludhiana and UIHTM departments for organizing the event.

Prof.Meenakshi Malhotra, former DUI and CVO and guest of honour of event , in her address said that  the Entrepreneurship is the most relevant topic in today’s times when everything is falling apart. She talked about the major environmental and social concerns that world is grappling with. Prof. Malhotra stressed that Entrepreneurs are innovators who can help in the holistic transformation and reform patterns in a meticulous manner. They can lead to influx of new products or services through plethora of models concomitantly bolstering the experience of large stakeholders. She made faculty realized that we have to train and develop competency, resilience, persistence and infuse these qualities into the minds of young people. Teachers are the ones who can aid in etching these in the minds of young people consequently leaving an indelible mark invariably in their minds. This is the way India would progress; we have to be job creators and not just job seekers. We have to inculcate unflinching spirit and unwavering attitude of entrepreneurship in these young people intertwined with how innovation can transform and create sustainable business. Prof. Malhotra emphasised the immense role of entrepreneurship and innovation in success of sustainable entrepreneurship. Lastly, she gave insight of the great entrepreneurs like Azim Premji, and motivated the students to take a lead in the direction of entrepreneurship as a career.

Sh. Harjinder Singh Cheema , MD Cheema Boilers, was keynote speaker of the event. He talked about several important factors that are required to progress in life. He made audience to recognize and appreciate that human beings are the luckiest creatures on this earth if we decide, we can reach moon also owing to the capabilities and perseverance we have. He shared his important formula of life that we do not need to stay far ahead from others in life but milliseconds ahead than other person. Then he furthered his discussion about what entrepreneurship is and how we require having all four qualities of Brahmin, Kshatriya, Vaishya and Shudra.

Mr. Cheema enlightened the participants about the concept of 5 Cs i.e. Confidence, Courage, Commitment, Consistency and Communication related to innovation. He asked the audience not to be just a follower in life rather try to be a leader. In India, where 60% of population is below 35 years we should try to be job creators and not just job seekers and that requires power and positive attitude in life and that is within everyone we all just need to identify it. He has shared his own personal insights like how he showed confidence in front of his Ship Captain, how he has shown courage to quit his job, how he showed commitment when his father said not to come home without a job, how he joined Thermax and continued there for 12 years and then started his own company by bringing together all his brothers and started this company whose revenue increased from 2 crore to 200 crore in a span of just 7 years. His discussion unfolded about how at different phases of life people around him motivated him and helped him see things differently. At the same time, he also talked about the importance of innovation. How he always continued on the path of innovation. He substantiated his claim by letting audience know that first time in the world, he along with his team has invented a technology for burning Distillery waste after concentrating it into a boiler, how they converted sugar mills to power plant during non-sugar season, how they are producing ethanol from rice straw to solve problem of straw burning and there latest innovation of making hi-tech crematoria to check air pollution and at the end, he apprised that to be an entrepreneur you have to be constantly search for innovations.

Dr. Naveen Kumar handled the questions and queries from participants. Dr. Arun Singh Thakur, Assistant Professor, UIHTM proposed vote of thanks.  The event was jointly coordinated by Dr. Monica Bedi, UBS, Dr. Naveen Kumar, UIAMS , Dr. Ashish Saihjpal, UBS-Ludhiana, Dr. Nidhi Gautam, UIAMS, and Dr. Arun Singh Thakur, UIHTM. The efforts of students’ coordinator team including Sandeep-research scholar, Diksha Guatam, Kartikay Nikhanj, Suruchi Rishi, Neha Thakur and Shivam Sangrai were appreciated.