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    The idea that one need not make money in a social venture must change: Ashok Jhunjhunwala

    Synopsis

    Jhunjhunwala who has been at IIT-M for 35 years, talks about the early days of the incubator and the unique challenges he faces while nurturing entrepreneurs.

    TNN
    A decade ago to the day, Padma Shri Ashok Jhunjhunwala started the Rural Technology Business Incubator (RTBI) at IIT Madras. It has since grown into a vibrant hub for entrepreneurs building socially-inclusive startups that serve people in rural areas. Jhunjhunwala , 63, who has been at IIT-M for 35 years, tells TOI about the early days of the incubator and the unique challenges he faces while nurturing entrepreneurs in domains as varied as livelihoods, education, healthcare, agriculture, energy, and financial inclusion.

    How did RTBI come into being?
    In the late 1990s, when I was with the Telecommunications and Computer Networks group (Tenet) at IIT Madras, social ventures were cropping up, and the government was interested in supporting entrepreneurship. We realised that business and technology were not thriving. Everyone saw the success of Tenet and it was decided that a one-of-its-kind incubator to support ventures that combined social, rural and technology was needed, with funding from the department of science and technology. Since we had limited resources, my lab at IIT Madras was used at first. As soon as I started RTBI, I met a lot of people eager to work for the incubator and youngsters outside IIT interested in starting social ventures. Though we had very little money, this gave me the confidence to bring people in, train them, and set the ball rolling.

    Social ventures have unique challenges. How did you overcome them?
    Social ventures take more time than usual so entrepreneurs need to be prepared to run patient ventures. It is not enough to have an idea to set up shop. One has to explore, build the technology and business model to back the idea, and then set up the venture. Because the market is the rural population, the benefit they perceive has to be significant (for the entrepreneur) to see any reward.

    What is your role in shaping the companies RTBI incubates?
    I have a personal rapport with the founders and have their complete confidence. I am also extremely critical. I am never satisfied and keep pushing them to aim higher. Some have the ability to take the pressure, some don't. It is crucial to understand whether a founder can handle my criticism or not.

    What remains the biggest challenge, and what makes it worth the trouble?
    It is hard when entrepreneurs who are capable choose to be laid back and take the easy way out. With one startup that I helped with financing, they were not moving in the right direction and pace. I insisted on a personal guarantee from the founders. I kept the papers in my drawer till the day they came to me and said they had succeeded. As a teacher, we have to play the balancing act between being critical and motivating them.

    I have experienced moments of pride when founders strive to do their best. Once, I learnt that a founder had stopped eating lunch as the startup was going through a financial crunch. The founder was barely managing to pay salaries of her employees and when I asked why she didn't come to me, she said she wanted to stand on her own feet.

    What is lacking in the Indian startup ecosystem?
    The concept of incubation is still in its infancy. Careful nurturing is required for the ecosystem to mature. There is dearth of experienced entrepreneurs, repeat ventures, trained resources and support. Social ventures, though popular, have a negative connotation. A charity culture seeps in, which does not help drive business. The thought that if one is in a social venture, one need not do business has to change. While the government is supportive, it is still difficult for startups. Compliance requirements and one-sided deals eat into founders' time and money, and there is no redressal mechanism.

    What is your vision for RTBI for the next 10 years?
    I want the organisation to live beyond me. While it is fairly independent, its true success will be when it lives beyond the people who build it.

    What is your message to aspiring entrepreneurs?
    For those who do not have an immediate obligation on graduation, there is no better career option than entrepreneurship. The learning and growth is unparalleled and if one chooses to build a venture with RTBI, one will not only be working for this generation but the next as well.
    The Economic Times

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