Alliance University hosted the Research to Entrepreneurship session. The event aimed to bridge the gap between academic research and entrepreneurship, offering valuable insights for scholars to transform their research into viable business ventures. The session had 60 participants and focused on applying research in real-world entrepreneurship.

Inaugural Address by Dr B. Priestly Shan

The session opened with an inaugural address by Dr B. Priestly Shan, Vice Chancellor of Alliance University. Dr Shan spoke about the university's shift towards promoting research and innovation alongside traditional academic rigour. He announced a Rs. 10 crore fund to invest in student-founded startups, reflecting the university's commitment to fostering entrepreneurial initiatives.

Keynote Address by Mr Nagaraja Prakasam

The keynote speaker, Mr Nagaraja Prakasam, a renowned angel investor and mentor, fondly known as “Naga the Farmer” shared his journey from research to successful entrepreneurship. He categorised startups into Copycat Startups, which replicate international models, and Innovative Startups, which address local problems. Mr Prakasam introduced the concept of disruptive innovation, citing examples like OYO and Grameen Bank. He stressed the importance of rekindling a child-like curiosity to innovate and solve problems.

Entrepreneurial Mindset and Research

Mr Prakasam highlighted key traits of successful entrepreneurs, including seeing problems as opportunities and being sensitive to one's environment. He emphasised that entrepreneurs should not follow trends but create them. He also discussed the importance of research in understanding local markets and socio-economic contexts, particularly for Indian businesses.

The 3Ps Approach

Mr Prakasam advocated for the 3Ps approach—People, Planet, and Profit—where businesses focus on profits meeting people's needs and ensuring environmental sustainability.

Key Takeaways for Research Scholars

Mr Prakasam advised research scholars to be observant, innovate locally, and persist through challenges. He encouraged them to define success on their terms and to remain focused on solving problems unique to India.

Conclusion

The session was an insightful exploration of how academic research can lead to successful entrepreneurship. Mr Prakasam's message that "Invention becomes innovation when it is commercially successful" reinforced the importance of turning research into practical, market-driven solutions.