Infosys Founder N.R. Narayana Murthy launched the Centre of Excellence (CoE) for Entrepreneurs and Family Business at MYRA School of Business in Mysuru on Monday, September 11, in the presence of eminent personalities and experts in the field of business and entrepreneurship.
A joint initiative of Bherunda Foundation, Mysuru and MYRA School of Business, the CoE aims to be the hub for entrepreneurial growth and development.
Yaduveer Krishnadatta Chamaraja Wadiyar, the scion of erstwhile Mysore royal family, Trishika Kumari Wadiyar, Director of The Bherunda Foundation, Dr. Sridhar Mitta, Founder and Managing Director of NextWealth Entrepreneurs, Kantharaj Urs, Managing Trustee, MYRA School of Business, and Dr. Ramasastry Ambarish, Dean and chairman, Board of Governors, MYRA School of Business were present.
Mysuru is home to an array of innovation centers, incubators, and accelerators. However, what has been missing is a centralised platform where these entities can collaborate and grow together. The CoE aims to bridge that gap, fostering a unified ecosystem that thrives on shared knowledge, resources and visions, a note on CoE said.
The CoE aspires to be a catalytic force that fuels dreams, cultivates talents and shapes the future of entrepreneurship in Mysuru and beyond.
Mentorship
Mr. Wadiyar, in his presidential address, said the initiative aims to add value to Brand Mysuru, channelising the ideas with the city having a pool of entrepreneurs; offering mentorship and guidance and creating an ideal platform for supporting the entrepreneurs who seek its help.
Democratise Entrepreneurship
The CoE also aims to democratise entrepreneurship, to make it accessible not just to a privileged few but to anyone with a vision and the determination to realize it, he added.
Out of about 250 GI products in the country, around 40 to 50 GI products belong to Mysuru, like Mysuru Mallige, Nanjangud Rasabale and so on. These products have a huge potential for promotion and the CoE will look at their tremendous potential for entrepreneurship development. “There is a potential for harnessing the indigenous knowledge of tribals for developing affordable healthcare and exploring the rural handicrafts. The CoE will explore all these areas.”
Dr. Mitta delivered a keynote address on the occasion where he spoke on various aspects, chronicling his five decade long journey in the IT industry.
NRN’s Principles of Governance
Later, during an interaction, Mr. Murthy said the principles of governance should not be dishonoured if the business – be it a family business or a listed company – grows bigger and becomes successful. The governance should be based on a value system, he advised.
Three principles that are a key for a successful business are – fairness in every transaction, transparency and accountability in business. If these principles are followed, then any business will see success – either a family business or a non-family business. There is no distinction when it comes to the principles of governance, he explained.
Panel Discussions
After an insightful chat with Mr. Murthy which was conducted by the alumni entrepreneurs of MYRA School of Business, two panel discussions were held — one on venture capital and another on family businesses — on the occasion.
