IMT plans to float start-up incubator; seeks aid from Biocon chief Kiran Majumdar Shaw
BCCL
Synopsis
Shaw said that with the digital disrupting the business landscape, we should promote job creators rather than being job seekers.
By CR Sukumar, ET Bureau
Institute of Management Technology (IMT) is looking to set up a start-up incubator and would seek assistance from Biocon chief Kiran Majumdar Shaw who floated this idea at the institute’s convocation ceremony here in Hyderabad on Wednesday.
Responding to her idea, Member of Parliament and president of IMT, Kamal Nath said that they will seek her help in this to the extent they can and see that they have incubators to address the needs with the changing employment scenario disrupted by the digital revolution.
Shaw, who was named among the 100 most influential people by a leading international magazine, said that if one compares the Fortune 500 companies in 1955 and 2018, they will realize that only a tenth of these once formidable and admired companies have endured the test of time.
“Take a look at the list of America’s 500 most valuable companies over the past decade. Eastman Kodak, National Semiconductor, Sprint, US Steel and the New York Times have gone. They have been replaced by the likes of Facebook, Uber and Netflix. The combined market cap of Apple, Google, Amazon, Microsoft and Facebook is estimated at $3.5 trillion which is larger than the Indian economy,” she said.
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She said, "With digital disrupting the business landscape, we should promote job creators rather than being job seekers."Responding to her idea, Member of Parliament and president of IMT, Kamal Nath said that they will seek her help in this to the extent they can and see that they have incubators to address the needs with the changing employment scenario disrupted by the digital revolution.
Shaw, who was named among the 100 most influential people by a leading international magazine, said that if one compares the Fortune 500 companies in 1955 and 2018, they will realize that only a tenth of these once formidable and admired companies have endured the test of time.
“Take a look at the list of America’s 500 most valuable companies over the past decade. Eastman Kodak, National Semiconductor, Sprint, US Steel and the New York Times have gone. They have been replaced by the likes of Facebook, Uber and Netflix. The combined market cap of Apple, Google, Amazon, Microsoft and Facebook is estimated at $3.5 trillion which is larger than the Indian economy,” she said.