Navin Kripalani, president of The Indus Entrepreneurs, said the Pune chapter decided to start a copying club after it got enthusiastic responses to the concept of import substitution through reverse engineering.
For the first time in the country, The Indus Entrepreneurs (TiE) is planning to launch a 'copying club' dedicated to copying products in Pune.
Navin Kripalani, president of TiE, said the Pune chapter decided to start a copying club after it got enthusiastic responses to the concept of import substitution through reverse engineering.
Shekhar Kulkarni, founder of Manik Engineering and IIT Bombay alumnus, in a seminar on Friday, had highlighted the huge opportunities in the field of import substitution.
"With so many products going off patent, it also becomes perfectly legal to manufacture these products for which a market already exists. Of course, copying does not mean merely replicating the product. It means you manufacture quality product and are willing to replace it to the customer," said Kripalani.
To assist such entrepreneurs TiE Pune will offer all help. "It is rewarding to see young entrepreneurs get so enthused about the concept. The assistance they need at every step can be provided from our valuable network whether it is in terms of mentoring or connecting with the right people. But it is important that entrepreneurs realise that we are there to support and not to spoon-feed," he said.
Kulkarni said goods worth crores of rupees are being imported every year that go off patent.
"Entrepreneurs in our country have the wherewithal and knowledge to manufacture such products. We need to change our mindset about reverse engineering. There are hundreds of such products and I have made a data base of such products," said
Kulkarni, who displayed various such products at the seminar.
Entrepreneurs who attended the programme were extremely enthusiastic about the huge opportunity of reverse engineering.
One of them was Vijay Mundra, who recently quit his job at an IT company and is now engaged with the family business of bamboo products.
Mundra said, "It is not possible for every entrepreneur to be successful with innovation. This programme has been an eye-opener. I will definitely explore this."
Sandeep Saxena, founder of Acton Biotech, engaged in providing diagnostic support to the health care industry said, "I will definitely explore products that have gone off patent in the health care industry. But it's like going on a treasure hunt. After checking out the lists in the field of diagnostics I will zero in on any one particular product. This requires to be studied in order to know who the buyers are, why the importers have not tried to manufacture it so far, will the customers be ready to buy from me and so on."
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