What must we do to support and foster innovative entrepreneurs, why are they important?

CP Gurnani, CEO, Mahindra Satyam from the Annual Meeting of the New Champions. 

As I have a great time networking and sharing thoughts with the attendees at the WEF Annual Meeting of the New Champions 2011 (AMNC) in Dalian (China), let me take a few minutes to share some of my thoughts. In my first blog published on this site a few days back, I had promised to share how the Mahindra Group, one of the largest business conglomerates from India, is supporting and fostering innovative entrepreneurs. Here it goes:

The hallmark of good entrepreneurship is the ability to innovate and keep coming up with solutions. While I can’t say that most of us have brilliant ideas, what we usually lack is a suitable platform that can act as a launching pad for our ideas. Most of the today’s thinkers and innovators need that `push’ that can reaffirm their belief and urge them to pursue what they firmly believe in. It’s important that we have innovative entrepreneurs around. Because throughout the history, it’s this small buch of people who touched and transformed our lives like never before!

After the successful launch of its new brand position – expressed by the word “Rise”, the Mahindra Group has launched 'Spark the Rise' – a multi-media movement that seeks to inspire and empower people across India to shape their own future. Through `Spark the Rise’, the Mahindra Group intends to create a digital platform for individuals, groups and institutions to submit project plans online at. Visitors to the site can view projects to offer advice or get involved by volunteering or donating money and equipment.

`Spark the Rise’ encourages people to be part of the movement and to engage with the idea of Rise – to think outside the box, to be inspired and ultimately to take action. It offers the tiny spark of inspiration – a spark that can sometimes even ignite a revolution. Through this initiative, the Mahindra Group is contributing its bit to recognize and reward the powerful ideas that can help and shape India.

Whether it is Technology, Infrastructure & Transportation, Energy, Agriculture & Rural Development, or Social Entrepreneurship, the `Spark the Rise’ initiative is creating a splash in the world of entrepreneurship and Innovation in India. To give you a sense of how successful this initiative is, within just two week, the www.sparktherise.com site has drawn more than 2,500 ideas, which are currently being assessed. Financial support will be offered to the best ideas. Each month, eight winning 'Sparks' will receive financial grants from Mahindra. While five will be chosen by public vote and three will be chosen by an expert jury. Over the course of six months, Mahindra Group will award a total of 48 grants. In the grand finale, 18 finalists – the top two winners from each month by public vote plus six entries chosen by an expert jury – will have the chance to win further funding.

I strongly believe that it’s important for us to support and foster innovative entrepreneurs.  What if every company sets a small budget aside to support such entrepreneurs? Think of the difference these entrepreneurs can make when they have the right channel and support to express themselves!

I am honored to inform you that I am part of a group that is thriving on grooming innovative entrepreneurs. I look forward to seeing more `sparks’ rising from across the world.