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Ideas to Innovation series: In conversation with the EY Entrepreneur of the Year Award Winner 2017 (Part 3)
Updated: Mar 06, 2018, 04.56 PM IST
Exclusive interview with Rashesh Shah, Chairman and Chief Executive Officer, Edelweiss Group
‘Every setback is an opportunity to recalibrate’
Rashesh Shah founded Edelweiss as a capital markets intermediary. With his innovative approach, he has expanded into allied businesses, making Edelweiss a leading financial services organization
What's the most fun thing about being in financial services?
The balancing act required in financial services makes it a very exciting field to work in. The constantly changing, dynamic nature of the business requires you to always be on your toes but at the same time, the opportunity to build a sustainable, long-term business by focusing on the basics makes it a healthy balance of short-term dynamism and long-term stability
What's the most innovative product to come out of Edelweiss? What are the returns from this innovation?
Our DNA is what sets us apart from most other organizations. We have always believed in creating an entrepreneurial culture within the organization where people are encouraged to become owners and empowered to take decisions. This has helped us compete in a market which has several large, well-established names and establish a niche for ourselves. The way we see it, Edelweiss today is what it is because of our culture, values and ethos
What are the life lessons you have learned from the ups and downs in your career?
Don’t get too bogged down when things are not going your way – if you are on the right path, success will eventually follow. We treat every setback as an opportunity to recalibrate. At the same time, never get ahead of yourself when things are going well – celebrate your successes but never go overboard.
How does an entrepreneur disengage from operations and become a professional CEO?
It is important to build a leadership pipeline that you can trust. Today we have 10,000 employees and we try and hire people who are not just smart and diligent but who fit into Edelweiss’s culture of collaboration. Furthermore, empowering your leaders will ensure that they are willing to stand up and take ownership. Gradually, this will help you disengage from operations and focus more on softer aspects which are equally, if not more important.
Exclusive interview with Sumant Sinha, Founder Chairman and Chief Executive Officer, ReNew Power Ventures
‘I always had an entrepreneurial streak’
In just a few years, Sumant Sinha has created India’s largest renewable energy organization. He has done several rounds of capital raising and enjoys the support of some of the world’s largest investors
Why did you choose to become an entrepreneur?
I think I always had an entrepreneurial streak in me. I realized it while setting up the retail business for the Aditya Birla Group. Subsequently, my stint at Suzlon Energy ignited my passion for clean energy, and the tremendous opportunities that it could create for India.
In 2010 many players with little or no experience in the sector were getting into renewables. Given my background in managing finance, building businesses and managing one in the renewable sector; starting my own venture in this field was a natural progression.
How does working for a noble cause like clean energy effect the way you conduct business?
Every business must be fair, transparent and ethical. And it should create positive value for its stakeholders – customers, employees, investors and the society at large. We follow the same principles at ReNew Power to make sure that we create a better world than what it is today.
What insights did you gain while working on projects in rural India?
People living in big cities tend to take a lot of things for granted – such as access to clean drinking water or round the clock power. Yet, a lot of these vanish as soon as we hit the hinterland. Therefore, we aim to improve the standard of living of people in and around our operation sites; and forging strong partnerships with local communities. Under the ReNew India Initiative, we plan and execute CSR initiatives that touch more than 1,42,000 lives across 92 villages in India.
How does ReNew Ventures plan to sustain its present growth?
While I cannot comment on future plans, the Indian renewable sector has huge potential and the journey has just begun. At ReNew, we have built our company by being financially prudent, disciplined in execution and focusing on building a strong management team. We have been consistent with our portfolio and created value for our customers and investors alike. We will continue to do so.
‘Every setback is an opportunity to recalibrate’
Rashesh Shah founded Edelweiss as a capital markets intermediary. With his innovative approach, he has expanded into allied businesses, making Edelweiss a leading financial services organization
What's the most fun thing about being in financial services?
The balancing act required in financial services makes it a very exciting field to work in. The constantly changing, dynamic nature of the business requires you to always be on your toes but at the same time, the opportunity to build a sustainable, long-term business by focusing on the basics makes it a healthy balance of short-term dynamism and long-term stability
What's the most innovative product to come out of Edelweiss? What are the returns from this innovation?
Our DNA is what sets us apart from most other organizations. We have always believed in creating an entrepreneurial culture within the organization where people are encouraged to become owners and empowered to take decisions. This has helped us compete in a market which has several large, well-established names and establish a niche for ourselves. The way we see it, Edelweiss today is what it is because of our culture, values and ethos
What are the life lessons you have learned from the ups and downs in your career?
Don’t get too bogged down when things are not going your way – if you are on the right path, success will eventually follow. We treat every setback as an opportunity to recalibrate. At the same time, never get ahead of yourself when things are going well – celebrate your successes but never go overboard.
How does an entrepreneur disengage from operations and become a professional CEO?
It is important to build a leadership pipeline that you can trust. Today we have 10,000 employees and we try and hire people who are not just smart and diligent but who fit into Edelweiss’s culture of collaboration. Furthermore, empowering your leaders will ensure that they are willing to stand up and take ownership. Gradually, this will help you disengage from operations and focus more on softer aspects which are equally, if not more important.
Exclusive interview with Sumant Sinha, Founder Chairman and Chief Executive Officer, ReNew Power Ventures
‘I always had an entrepreneurial streak’
In just a few years, Sumant Sinha has created India’s largest renewable energy organization. He has done several rounds of capital raising and enjoys the support of some of the world’s largest investors
Why did you choose to become an entrepreneur?I think I always had an entrepreneurial streak in me. I realized it while setting up the retail business for the Aditya Birla Group. Subsequently, my stint at Suzlon Energy ignited my passion for clean energy, and the tremendous opportunities that it could create for India.
In 2010 many players with little or no experience in the sector were getting into renewables. Given my background in managing finance, building businesses and managing one in the renewable sector; starting my own venture in this field was a natural progression.
How does working for a noble cause like clean energy effect the way you conduct business?
Every business must be fair, transparent and ethical. And it should create positive value for its stakeholders – customers, employees, investors and the society at large. We follow the same principles at ReNew Power to make sure that we create a better world than what it is today.
What insights did you gain while working on projects in rural India?
People living in big cities tend to take a lot of things for granted – such as access to clean drinking water or round the clock power. Yet, a lot of these vanish as soon as we hit the hinterland. Therefore, we aim to improve the standard of living of people in and around our operation sites; and forging strong partnerships with local communities. Under the ReNew India Initiative, we plan and execute CSR initiatives that touch more than 1,42,000 lives across 92 villages in India.
How does ReNew Ventures plan to sustain its present growth?
While I cannot comment on future plans, the Indian renewable sector has huge potential and the journey has just begun. At ReNew, we have built our company by being financially prudent, disciplined in execution and focusing on building a strong management team. We have been consistent with our portfolio and created value for our customers and investors alike. We will continue to do so.
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