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What's More Concerning To You - Copy Pasting Innovation Or Copy Pasting Business Model?
Entrepreneur magazine
|March 2018
I don’t think there is anything wrong in copy pasting business or innovation because eventually lot of problems and needs globally are similar such as education, health etc. So we don’t need to reinvent the wheel. There are businesses which can be taken globally like MakeMyTrip which is a replica of Expedia. But if there is someone like Grofers trying to do an Instacart - it cannot be replicated as Indian retail stores don’t have strong IT network. So entrepreneurs must figure out what to innovate and what to replicate.
On a scale of 10, rate entrepreneurs on building businesses and building cultures.
India is a good start-up nation but it is yet to emerge as a scale up nation because entrepreneurs are going through the process of learning of being innovators to institution builders. So while I would rate them around eight-nine on taking up new initiatives, entrepreneurship and innovation but it is five-six on institution building because they have very little experience in that. Organisation building, setting up culture and value system pertains to lot of wisdom you acquire over time.
But it restricts technology innovation as investors chase one big idea.
This story is from the March 2018 edition of Entrepreneur magazine.
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