He has done his Master’s in Financial Management. Being born in a business family largely laid the foundation for his current business outlook that the business must be customer-centric to be able to survive.
As a first-generation entrepreneur, a vision to transform the way people avail loans led him to start Hotfoot Technology Solutions. He had 15 years of experience before he started the entrepreneurial journey. His rich and varied experience in Banking, Process Intensive Manufacturing and Information Technology, comes through his association with Citibank, Barclays and Wagner Trident.
Vivek has a sharp business mind-set and is very detail oriented. With an unwavering passion for customer service, he believes that one of the biggest features and a significant competitive edge for a company comes from giving personalized attention to the customers and he strives to achieve that with his core team and employees.
Vivek is closely associated with the cause of girl child and continues to be a major contributor to a NGO that works at the grassroots and encourages the child to return to government schools every year.
He loves music and spends time with his two young daughters enabling their budding interest in music, dance and sports. He adores his pet dog and believes that having a pet instils a sense of empathy in his young family.
Here is the verbatim transcript of the interview.
What inspired you to launch Hotfoot?
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Importance Of Technology For SMEs
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Importance Of Digital Economy
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Recent years showed a considerable rise in the startups of India. During globalization, MNCs or Multi-National Companies had a massive role in India’s economic growth. Now, it seems that startups are revolutionizing the Indian economy. These startups are amplifying the revenue generation and enriching the GDP.
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The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US.
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The year 2021 marked 30 years since economic liberalisation surfaced in India and writing on this occasion, the richest man of India; Mukesh Ambani said that bold economic reforms such as ending the license –quota raj, liberalisation of trade and industrial policies, freeing up capital markets and financial sector helped our GDP grow ten folds since 1991 and India transformed from an economy of scarcity in 1991 to an economy of sufficiency in 2021.
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As per the 2019-20 annual report of the MSME ministry, among 63.3 million MSMEs that India has, women–owned 20.4% of them up from 13.72 % in 2013-14. This data supports the fact that there has been growing acceptance of women in entrepreneurial roles but it hasn’t always been the case.
TECHNOLOGY AN ENABLER FOR SMALL BUSINESSES
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