Nurturing entrepreneurship

Attempting to make their programs "intellectually stimulating” and a platform for learning, according to World Zarathushti Chamber of Commerce (WZCC) Bombay president Phiroze Kharas, the WZCC saw the successful conclusion of a week-long Entrepreneurship Development Program. Held in Ahmedabad from April 28 to May 3, 2008 at the Entrepreneurship Development Institute of India (EDII) the program saw 27 Zoroastrians and other entrepreneurs ranging in age from 16 to over 60 successfully participate.

At a function held on June 7, 2008 at the Ripon Club as a "follow up to the EDII Program” WZCC vice president Shavak Bhumgara termed the project "very satisfactory.”

"We worked on it for a whole year,” said Dolly Dhamodiwala, an economist and management consultant associated with the S. P. Jain Institute of Management and Research. The program was condensed into a six-day package where participants were taught "the basic tenets of entrepreneurship,” said Dhamo­diwala.

Amongst the other program participants who spoke that evening were Hormuz and Aviva Pundole of C. T. Pundole and Sons in Poona. Noting they were the fifth generation in the family’s watch retailing business, Hormuz said, "retailing is the best business to be in.” The company has six outlets, three stand alone and three kiosks in malls. During dinner he mentioned to Parsiana that Titan was the most popular brand while in the upmarket section (around Rs 40,000) Rado was favored. (Incidentally across the dinner table was WZCC member Minoo Mody who initiated the Tata move into Titan. Xerxes Desai was the company’s first managing director.)

Another program participant Danesh Palia said not all the 27 attendees wanted to start their own businesses. "Five to 10 have the fire in their belly to start out on their own — not in the family business.” Palia manufactures gaskets for industrial purposes from high quality fiber. [His Labrador pup who attended the meet (though not the six-day program) enlivened the evening with his periodic yelps.]

The program merited coverage in the May 7, 2008 Ahmedabad edition of the DNA daily. The article quoted several of the participants.

21-year-old Nancy Mehta who is associated with her family’s two-decade-old real estate business is keen on "exploring the promising real estate business in Gujarat;”

Ardesir Irani who started his own business, trading in security systems and solutions at the age of 48. "Irani installs close-circuit TV cameras, fire and theft alarms, and other safety appliances in homes and business establishments.”

Asif Rangwala, 41, manufactures electrical goods, capacitors and switchgears from his unit in Valsad.

A side piece on entrepreneurship in the community in the newspaper quotes Oorvaksh Medora, Gujarat chapter head of WZCC as saying, "Youths see Ratan Tata as their role model because he is known for his integrity in business and the values that he upholds.”

Participants along with EDII faculty at the campus. (Front row, second from right) program director D. M. Parikh and to his left EDII director Dr Dinesh Awasthi

"Softer terms”

WZCC India president and Bombay Parsi Punchayet (BPP) chairman Minoo Shroff said the Venture Capital Fund initiated by the Federation of Parsi Zoroastrian Anjumans of India and the BPP was "doing well. Yesterday we handed over cheques” to an entrepreneur who wants to start a restaurant in Poona. The candidate had worked with the Taj Group of Hotels earlier. The Fund lends money "on softer terms. We’re not Pathans. We want to see that they (the borrowers) succeed.” (Pathans were known to be meticulous in the collection of installments and interests, arriving at the door of the borrower on the due date.)

Left: Oorvaksh Medora (seated center) at workshop. Right: Class in session

Rushad Divecha of Eros Elevators who was present at the function along with his brother Karl, when asked to talk about his experiences, recalled how the two had joined the family business in 1992 only to have their father expire two months later.

"We learned on the job,” he related. The firm founded in 1947 by their grandfather started out maintaining lifts. Soon they started to manufacture elevators. As the Indian economy opened and multinationals entered the business, the scenario changed. "We looked for new ways, new opportunities,” said Divecha. They ventured into parking systems, a business that had synergy with the elevator business. "We bought the technologies for parking” systems, he noted. With the space crunch in Bombay and the government encouraging multistoried parking lots, the brothers, both engineers, expect this to became a major source of revenue.

WZCC global corporate secretary Za­rine Commissariat spoke of the forthcoming annual general meeting of the international body to be held in December 2008 in Houston, Texas. Attendees from India would be provided "free hospitality” with local Zoroastrian families. To avail of this benefit, members would have to register before September 15, 2008.

WZCC member Pervin Homavazir spoke of her and her sister’s entry into food stalls at shopping malls. People "window shopped” at the malls but paid for food, she observed. They had expanded to three outlets in six months, she said.

In his vote of thanks WZCC honorary secretary Vispi Mistry [who started out with three or four employees and now runs a 1,500 strong BPO (Business Process Outsourcing)] voiced appreciation of Dhamodiwala’s efforts in coordinating and organizing the EDII program.