First-generation founder or Next-gen entrepreneur – What would you choose? | Tycoons of Tomorrow

India’s dynamic economy is home to decades-old family businesses and new-age startups. Being a second-generation or third or fourth-gen entrepreneur is no easy task. They have a strong legacy to preserve and build upon, a family way of working, and transformation of any kind can be hard. Being a startup founder on the other hand, agility, flexibility, and innovation are the mantras to follow. Both have their ups and down, and a plethora of opportunities and challenges. In this panel discussion from the Tycoons of Tomorrow 2021-2022 gala event, Kairav Engineer, VP – Business Development, Astral, who is a second-generation entrepreneur; Ashwin Damera, founder, Eruditus, and Sudhakar Adapa, Founder & CEO, Commerzify, who represent first-generation founders, compare and contrast their experiences, the mistakes they can and cannot afford, and—what if they had a do-over—would the startup founder rather choose to be in a family business? Or would the second-generation leader prefer to go out on his own?

#Tycoons #entrepreneur

Key Highlights
0.00 Introduction
0.44 Is the fire in the belly a key differentiator between the first-gen founder and the next-gen family business entrepreneur?
1.00 Ashwin Damera of Eruditus on the big bet first-gen founder makes. Ola Electric vehicles catching fire will have dire consequences than Tata Nano catching fire
2.15 Kairav Engineer of Astral Pipes differentiates between born-into-money second-gen entrepreneurs and gen 1.5 that adapt according to the struggles of their parents
4.16 Benefits of founder's freedom against the launchpad readied for second-gen family business entrepreneurs
5.48 Does being a lone ranger leads to the stunted risk-taking abilities of a first-gen founder?
7.50 How do second-gen family business owners maintain the fine balance of relationships and businesses?
9.30 Challenges of first-gen founder
10.55 Lack of guidance for first-gen entrepreneurs
12.42 Learning quickly from mistakes
14.03 Are family business owners not allowed to fail?
16.00 Have the improved standards of corporate governance increased the burden of proving their metal for next-gen family business entrepreneurs?
17.35 Founder's freedom vs family launchpad, what would you choose?

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