Before you get to speed do you really need funding – is your business in that league and has those multiples!!

Speed does matter – but right constant speed is what gets you there. Norwegian Roald Amundsen trekked to the South Pole in an extremely disciplined manner. 20-mile march principle – set yourself yoy targets and hit them then miss them. Before we move further lets quickly talk about Mentee traits: – enthusiastic, energetic, organized and focused.

They should embrace feedback while remaining honest and responsive. They should always behave with integrity and recognize that hard work and sacrifice pay dividends down the road.

Effective Mentoring requires following rules

Mentee should look for relevance – A mentee should clearly know what he/she wants to know “Relevance” – Usually mentee gets carried away by mentor success and does not check if the mentor is falling within the sweet spot a mentee is looking for- which to me is “relevance” of the match.

If the mentor realm of understanding is a bit distant from the school of experience the mentee is seeking, the relationship may not be a good fit, and you’re probably better off looking for another mentor elsewhere and/or recognizing that it will involve more of mentor time.

Mentor should look for suitability — the other side of the equation…ask: Do I have the relevant experience and time to make this relationship successful? Estimate the level of experience of your prospective mentee versus your own (gap) & then decide to move forward.

Mentee should keep following in their mind when dealing with mentors, I call them PanchMantra

1. Clarify what you need from mentor:

• Guidance
• Sponsor
• Connector

2. Choose wisely: Knowing what you need is the first step; finding the right person is the second. Like selecting a partner for marriage, your choice of a mentor affects 95% of your success and happiness. Find a mentor whom you can relate to and who shares your goals and understands your priorities. And remember that someone at the top of their field may not necessarily be ideal. Find mentors U see urself becoming — and make sure they are up to the challenge.

3. Under promise and over deliver: Remember that mentors are looking for closers: those that finish what they start.

4. Mind your mentor’s time: Good mentors are successful for a reason: They manage their time wisely, often doing multiple things at any given time in order to ensure success. As a mentee, you must learn to respect your mentor’s time.

5. Be engaged and energizing: The best mentees are fun to work with. U should be energy donors, not energy recipients. work with enthusiasm, excitement, and eagerness to move projects forward. Mentors are more likely to respond positively to a mentee who presents the upside to their efforts rather than the downside. With this in mind, avoid excessive complaining about other people or a particular situation. If problems arise — and they usually do — it is best to frame your problem as a growth opportunity. Present several solutions, and see if your mentor advises one course of action over the others.

***Beware of pitfalls: Just as in the world of management, mentees must learn to manage up — that is, to help their mentor guide them. When mentors go awry, mentees must be ready. Recognize the warning signs and know what countermeasures to employ. For example, if your mentor becomes a bottleneck, set firm deadlines and clearly state what will happen when they arrive. Conversely, if your mentor begins to hijack your ideas, more drastic measures might be necessary

In nutshell:

• Excellent mentees know what type of help they need
• Select the right people to help them,
• Finish tasks ahead of schedule,
• Mindful of their mentor’s time,
• Are energized and engaging, and credit others liberally.

As a Mentor what my rules are:

• Baseline chemistry between a mentor and a mentee
• Focus on character rather than competency
• Encourage with my optimism, and keep quiet with my cynicism
• Extremely loyal to my mentee

At its highest level, for me mentorship is about being “good people” and having the right “good people” around us — individuals committed to helping others become fuller versions of who they are.

This is CAN small steps towards the direction of “assisting” those “right good people” and we hope the discussion during the entire day today has helped all of you to make some incremental progress – CAN would be happy to continue this dialogue so that this is not just one-off exercise but its a continued endeavour to promote the upcoming entrepreneurial ecosystem of this region. I would like to thank the entire team of CAN who have worked hard and esp our secretariat team under Vineet and all those who have been involved in this wonderful festival of entrepreneurship in the city beautiful.

Being on ship as Ex-merchant shipping officer I know shipping is the lifeblood of the global economy and ships are the neurons, which carry global trade. Over 90% of global trade happens on oceans and we are less than six months away from possibly the biggest shipping shake-Up, regulatory (IMO 2020) which will contrarily affect complete supply chain system of the global economy.

“Estimates vary but it is believed that the IMO’s regulations will cost the shipping industry between $60 – 200 billion.” Source: Port Tech

United Nations shipping agency, the International Maritime Organization (IMO) planning to come with regulation whose main agenda will affect shipping industry, as from 1 January 2020, ships will have to use bunker fuel with a sulphur content of no more than 0.50% m/m under regulation 14.1.3 of Annex VI of the MARPOL convention (the “Regulation”). The non-compliant vessels will be subject to financial penalties, which will vary as per the Port States.

The focus of IMO 2020 to reduce SOx (Sulphur Oxide, which is a greenhouse gas) produced from a ship’s consumption of bunker fuel.

In fact, the “15 largest ships in the world produce more sulphur emissions than all of the world’s cars combined”. (Source: Guardian)

What Sea Liners Must Know?

1. Reporting on fuel oil quality and availability?
2. Exhaust gas cleaning systems (EGCS “Scrubber”) availability with IMO standards?
3. Sulphur monitoring sampling and testing service providers (Sulphur content testing Labs)?

How Technology could be a saviour?

Looming IMO 2020 making Ship liners to have a smooth business flow and need for a globally integrated shipping information system (GISIS) is realized, where businesses can view all stake holder’s data and it’s reporting. Information related to fuel oil availability, EGCS systems, and Labs testing service for the understanding of the 0.50 % m/m sulphur limit under MARPOL Annex VI and abidance.

Pre-IMO 2020 work in progress

A. Desulfurization: International Ultrasonic Technologies Inc CEO Kerri McGrath confirmed that they are ready with advanced technology to make bunker oil (HSFO) exhausted gas to comply with IMO guidelines.

B. Marine fuel additives: Innospec Inc. has launched an exciting new range of marine fuel additives. These additives will make bunker oil comply with the new regulations regarding maximum sulphur content, which comes into force on January 1st, 2020.

C. Low-sulphur fuel oil (LSFO): Using high-grade fuel compliant is a short term solution for marine liners where many refinery planners, this means a terrific opportunity to make money for the company.

D. Carbon Neutral vessels: The world’s biggest carrier A.P. Moeller-Maersk announced plans to go above and beyond complying with the IMO’s 2020 rules when it set a target of having carbon neutral vessels on the seas by 2030.

IMO 2020 and Surge in Freight Price

Comply with new IMO regulation shipping industry have two options. One using low sulphur compliant fuel and other using open-loop scrubber system. Processing Bunker (Marine Fuel Oil) requires refineries to put more efforts it will result in costlier fuel price and directly impact freight price. Even implementing loop Scrubber will be a temporary and costly affair. Bottom line, ocean transportation is about to get more expensive in 2020.

As per Goldman Sachs: Full compliance scenario, $240 billion extra burdens will come to the shipping industry. Daily bunker fuel is nearly 3.5 million barrels per day in 2018, representing roughly 5% of total global fuel demand.

Technology as a captain for your ship

Shipping industry planning for Internet of Things (IoT) based digital platform for sea liner services gives shippers insights into how every vessel carrying their goods will comply with the IMO 2020 regulation. Such IoT applications can alone benefit over 94,000 big vessels according to the united nation.

Tech-Driven Assets Information & Optimization: 2019 will be dominated by the shipping industry’s preparations for January 1, 2020. It has already inspired a raft of technological innovations which could become fixtures of the sector for years to come. Sea liners moving towards “integrated shipping information system” (ISIS) and to comply with looming IMO 2020 regulation. New tech Consulting companies coming forward and developing IIS focused on reporting, heat map based available labs, scrubbers service, LFSO details and of available assets for their vessel fleet and freight management solution post IMO.

Integrated shipping information systems could be a one game-changer specifically for small and medium-size shipping liners and can act as a captain on the ship for sea liners in managing their fleet, freight and bunker management.

“Machines are coming, and the 5G will be a big enabler with that true convergence of computing and communications.” Let’s see how this 10x faster speed will make planet earth biggest sporting event – “2020 Olympics” held at Japan.

5G means?

In technical frequency terms 5G with over 10 GBPS speed, can send a full-length high-definition movie in mere few seconds. “5G will be 10 times faster than current best 4G speed“. It also lead the way for “IoT” where devices from home door locks to dog collars all are connected and can talk to each other on user command. Indeed 5G will be important for developing AI, drones, self-driving vehicles, robots and other machines that transmit massive data in real time and need quick analyzation of those big transmitted data to give machines direction to take meaningful actions.

2020 Japan Olympics VS 2016 Rio de Janeiro Olympic Due to 5G?

The 2016 Rio de Janeiro Olympic and Paralympic Games smashed all television viewing records by racking up a cumulative audience over 4.1 billion in 150+ countries and territories. Tokyo will quite comfortably surpass the Rio figure, analysts believe, and provide tech companies with an unprecedented opportunity to show the rest of the world what Japan still does best.

5G will be an ally in transformation of current business models which is going to have big impact on one of the biggest sporting events in the world – the 2020 Olympics held in Japan. Japan being a global leader in mobile communications for the past four decades have planned to make the Tokyo 2020 Olympic and Paralympic Games the most innovative and technologically advanced sporting event ever held on planet earth.

360-degree, 8K video streams – According to Aicha Evans, visitors to Tokyo for the 2020 festivities can expect 5G used to provide 360-degree, 8K video streams that provide an athlete’s point of view to a viewer in real time, along with virtual reality experiences, facial recognition for venue security and applications related to connected cars.

5G Powered, Spectacular Satellite driven opening ceremony plan – ALE Co. Ltd., a Japanese startup that is planning to create a man-made meteor shower as part of the opening ceremony. To create its artificial shooting star project, called Sky Canvas, the company plans to launch a series of microsatellites that will release more than 5,000 pellets that will circle the Earth before burning up spectacularly in the atmosphere. By changing the chemical composition of the pellets, the company will be able to create a multi-colored display that is literally out of this world. (Source: smithsoniamag.com).

5G Bandwidth Powered 2020 Olympics Hospitality Plan – Robots are being deployed at Tokyo’s airports to help visitors navigate the facilities and make their way either into the city or to their departure gates, while an offshoot of Toyota is working on a flying car that its designers hope might be employed in the opening ceremony to light the Olympic flame in a truly memorable manner. (Source: Forbes).

5G: Amalgamation of speed & security

Speed – Japan, which is known for its high speed trains keeping wireless mobile device data transmission and connectivity recently Samsung has tested the 5G, where they achieved 2.5Gbit/s transmission speed with a mobile device that was in a vehicle travelling 150km/h.

Security – Demonstration an advanced security service based on 5G network technology to determine the effectiveness of the service in handling security for the opening ceremonies of the 2020 Olympics. The trial involved the use of artificial intelligence (AI), advanced facial recognition system to automatically verify the identities of athletes, officials, staff, and media members along with drones having HD 4K camera, trial aims to use advance technology complemented by 5G speed which will “drastically increase security levels”.
Drone-based surveil¬lance technology that should help reduce the work¬load on human guards.

Speed + Security – Drones will operate at an altitude of between 50 and 70 meters, remain airborne for up to eight hours, and have the capability of monitoring an area with a radius of 2.5 Miles. There are even reports that “killer drones” are being con¬sidered that would eliminate unauthorized drones operating around Olympic venues. Equipped with lasers or projectiles, these drones would envelop a target with a net to bring it down. (Source: Japan Today).

Conclusion

There’s a lot of hype about 5G as a revolution, but most of us here don’t even know how their smartphones will work, after 5G, new apps flood gates will be opened and current 4G based mobile apps will very soon become obsolete. In my opinion 5G is not going to create dangerous terminators for us, instead it will help people to live better lives.

Japan will further consolidate its technology advancement in 2020 Olympic. What more you expect?

Most of the Start-ups are wrap around successful business ideas. Plenty of them are on-demand platform ideas, whereas many entrepreneurs still trying their luck with social networking and ecommerce applications. But what it takes to survive first 5 year, where over 90% of the start-ups fails to live.

I receive pitch decks from many young energetic self-proclaimed entrepreneurs, who have big ambitions, live-in relationship with there idea’s and having a big appetite for money. But whenever I ask them what mistakes they shouldn’t do in their business strategy, then most of them fails to answer.

Being TiE Chandigarh Founding member, whose core objective to foster entrepreneurship and over 2 decade of my business experience, I love to mentor budding start-ups not only by sharing dos of business strategy, instead I emphasize more on don’ts.

SUCESSFUL START-UP’s FIX #1
LEADING DIGITAL: Biggest change occurred after dot-com bubble is “Social media and mobile connectivity” which has made businesses omnipresent for anyone from, ANYWHERE…! Consumers are not only showing there personal online presence, but your BUSINESSES are also presented as well as JUDGED ONLINE. It is the biggest advantage that any business can get. When you can order something online for you. Why not grab the online orders for your business?
Almost all type of businesses are running online. Whether it is a restaurant, a flower shop, a grocery store, medicines, water, courier or even marijuana and alcohol in some countries. Yes, you can order everything with online ordering systems. So, every start-up business should have a digital marketing plan from the very beginning.

SUCESSFUL START-UP’s FIX #2
LISTEN TO YOUR INNER CONVICTION: While in an interview with CEO Insight India once asked my advice for entrepreneurs.

SUCESSFUL START-UP’s FIX #3
RUNNING OUT OF CASH: “A FOUNDER GETS AN IDEA >> BUILDS THE SOLUTION >>TRIES TO SELL IT >> NOBODY BUYS THE SOLUTION >> THE FOUNDER RUNS OUT OF MONEY >> THE STARTUP DIES.”

Major reason why startups fail is that they simply run out of cash or they are unable to raise more funding. My experience and advice for entrepreneurs while pitching for VCs. Focus on solving real world problem which are worth solving

 

CONSLUSION:
“All I Want To Know Is Where I’m Going To Die So I’ll Never Go There. “-Charlie Munger
Just like above famous quote. entrepreneurs must know what mistakes they should never commit at the beginning/budding stage. To be successful one should not only know what things they must do, but on the contrary they must realize what mistakes they can’t afford.

Until now, AI has been applied fairly narrowly in limited fields like language translation or strategy games. In contrast, the holy grail of AI research is the production of AGI that would operate at a human level of intelligence.

But what would happen if this holy grail were found?
For starters, the creation of AGI might result in what’s known to AI researchers as an intelligence explosion.
An intelligence explosion is a process by which an intelligent machine gains superintelligence, a level of intelligence far above human capability.

It would achieve this through rapid learning and recursive self-improvement because an AGI could potentially design an even more intelligent machine, which could design an even more intelligent machine and so on. This could trigger an intelligence explosion that would allow machines to surpass human intelligence.

What’s more, superintelligent machines could take over the world and cause us harm, no matter how good our intentions.

Let’s say, for example, that humans program a superintelligence that is concerned with the welfare of humankind. From the superintelligence’s perspective, this would probably be akin to a bunch of kindergartners far beneath your intelligence holding you in bondage for their own benefit.

Quite probably you would find this a depressing and inefficient situation and take matters into your own hands. And what do you do with incompetent, annoying human obstacles? Control them, or better yet, destroy them.

There is lot of buzz going around on “AI and as a healthcare provider” it does need a closer look at the opportunities in this area. 121 health AI and machine learning companies raised $2.7 billion in 206 deals between 2011 and 2017. Market is abuzz with news of how artificial intelligence (AI) is going to change health care & as a result several AI technologies are cropping up to help people streamline administrative and clinical health care processes. The field of health AI is seemingly wide—covering wellness to diagnostics to operational technologies—but it is still narrow in that health AI applications typically perform just a single task.

Some of the interesting work which companies are doing including clinical decisions support system for stroke prevention, tracking patient vitals on the move & managing home-care. If we start using AI for all the data we are generating today it can make a huge difference in diagnosis as well as preventive and corrective treatment.

AI today is more prevalent in assisting frontline clinicians to be more productive and in making back-end processes more efficient—but we are still some time away from AI apps making clinical decisions or improving specific clinical outcomes- which is the need of the current healthcare space. Clinical applications are still rare. Some of the potential areas where we can expect the market to grow based on what we have seen in 2018 are :-

1. Robotic assisted surgery replacing humans
2. Virtual nursing assistance due to labour shortages
3. Administrative work flow improving the existing infrastructure
4.Fraud detection
5. Preliminary diagnosis
6. Automated Image diagnosis
7. more and more…

For a software development house above are opportunities to be tapped provided one does understand it as a whole and not sum of all parts – which mean commands over writing software code will not be sufficient, one has to understand the entire paradigm of understanding what and why apart from how of the software being developed. More later….