Chennai: A ‘Centre for Research on Start-Ups and Risk Financing’ (CREST) was launched at the Indian Institute of Technology (IIT) Madras to provide academic and thought leadership in innovation, entrepreneurship and risk capital.
The CREST would also create Indian start-ups and ventures’ data repository to overcome the hurdle of engaging in high-quality research. IIT-Madras will make this information resource accessible for researchers and policymakers that can lead to top-tier publications.
Jorge Paulo Lemann Professor, Harvard Business School, Tarun Khanna delivered the inaugural keynote Lecture of CREST on ‘Cultivating societal trust can unlock India’s Entrepreneurial Potential,’ on Tuesday.
“Entrepreneurs with great ideas in developing countries cannot rely on the usual trust-building foundations – law, regulatory oversight, and government projects, as they might in the developed world. Assuming the existence of these phantom factors predisposes ventures not to succeed at scale. Instead, smart entrepreneurs in these countries need a mindset shift, focusing not only on creating but also the conditions to create these,” Professor Khanna was quoted as saying in his lecture by NDTV.
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