STPI Pulse to Address IT Industry Challenges Amidst Covid-19

Article By : STPI

STPI launches 'Pulse' to help industry & startups stay afloat by deliberating on the challenges, opportunities and strategies to become more sustainable, efficient & resilient in front of global crisis...

Amid an unprecedented, extraordinary event that has global repercussions on the economy and lives of several millions of people, COVID-19 has impacted the entire world on many fronts. Keeping the ramifications of the pandemic on various industries, and especially, the IT industry, and to spread the knowledge and make the Indian IT Industry more resilient, Software Technology Parks of India (STPI) and AIC STPINEXT INITIATIVES have initiated STPI Pulse, an online webinar series, where speakers of global repute are sharing their knowledge and experience for the benefit of the community at large.

The first webinar in the series launched on 15th April 2020, featured Dr. Omkar Rai, Director General, STPI and Shri Subroto Bagchi, Co-founder of Mindtree and Chairman of Odisha Skill Development Authority. The 1st session focused on the topic “Overcoming the Unprecedented COVID-19 Crisis: A Strategy for MSMEs & Startups in IT/ITeS Industry”.

As a keynote speaker, Shri Subroto Bagchi accentuated on 11 strategies comprising lead with sacrifice, communicate continuously, rewrite your business plan, don’t follow the herd, leaders are sense makers, how can I help, cut your costs to the core, question your relevance, seek external help, never miss opportunities in crisis, and newer opportunities will come.

Before taking off the maiden session, Shri Subroto Bagchi appreciated the pioneering initiative by STPI, and said, “I salute STPI for starting this series which promotes communication & is addressing COVID-19 challenges at the right time.” Keeping the human angle at the core of tough decision making, Shri Bagchi further added, “When you make decision according to your situation, you are more likely to stay with it. It is not necessary that all the popular tough decisions are meant for your company as well. Do what you can to support as a leader and a human being.”

When STPI Pulse is focused on disseminating knowledge to Indian startups, it was natural to choose a home-grown product Airmeet to connect with audience. The maiden webinar series was a massive success with 1418 people registered on Airmeet and 1109 people attended live through this platform. Similarly, on Facebook 623 people watched live.

The second session of the webinar series “Sailing through Uncertainties: Impact on startups and how to leverage the current crisis to emerge as leaders” was conducted on 24th April, presenting Omkar Rai and Senapathy “Kris” Gopalakrishnan, Chairman, Axilor Ventures and co-founder and former vice chairman, Infosys.

During the deliberations, Gopalakrishnan explained how investment can be attracted from institutional investors and said, “My discussion with institutional investors tells me that they are very keen to support their companies. They are allocating them disproportionately and protecting existing investments. If you are doing reasonably well and executing plans well, investors will support you.”

STPI also conducted the third session on Design Thinking for Building Global Class Products by roping in Arun Jain, chairman and managing director, Intellect Design Arena Ltd and founder and former chairman and CEO, Polaris Consulting and Services Ltd. as keynote speaker. Omkar Rai and Subodh Sachan, Director, STPI and CEO, AIC STPINEXT INITIATIVES moderated the session.

“We must focus on building innovative products.” While talking on the various dimensions of design thinking.” Jain explained, “Design Thinking starts with listening to customers in an unbiased manner, moves on to dialogues, and focuses on observations. It’s is about understanding requirements, observing, connecting the dots, and unearthing blind spots.” He explained about the three laws of Design Thinking include less is more, the last 2% is 200% and theory of prioritization. He also explained about the five forces that drive Design Thinking, which comprises skill, expertise, perspective, idea, and alignment.

An STPI spokesperson said the third session was a good success in terms of participation and engagement. Over 2,000 people from the IT industry and startups participated and massive engagement took place during the Q&A segment of the session.

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