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02:53 Motivation to be an entrepreneur 05:34 Contribution of the IIMC MBA in shaping his entrepreneurial career (he describes how quantitative and statistical techniques helped him over a long period of his career) 10:26 Importance of social sciences in shaping an entrepreneurial career 12:51 Should the motivation to start an enterprise be to become individually rich or to serve humanity and society? 16:51 Should a start-up rely on Venture Capital funds in its initial years? 20:58 Should one start a business alone or with partners? 23:22 Specific attributes that could help youngsters in their entrepreneurial pursuits 28:22 Message to youngsters: The art of failing cheaply 29:38 Message to youngsters: Learning from failures 33:04 Message to youngsters: Business sustainability 34:45 Student life at IIM Calcutta About Mr Ajit Balakrishnan: Mr Ajit Balakrishnan is from the IIMC MBA batch of 1971. He started his entrepreneurial venture by co-founding Rediffusion when he was only 22 years. He founded Rediff.com in 1995 and it was listed on NASDAQ in 2001. He has served as the Chairman of the Ministry of Information Technology Working Group and also chaired a Committee appointed by India's Ministry of Human Resource Development on 'Research and Faculty Enhancement at the seven IIMs'. He continues to be involved in many public service roles. Mr Balakrishnan is a popular writer and his book 'The Wave Rider: A Chronicle of the Information Age' speaks volumes of his insights into the waves of changes involving industrial and technological revolutions shaping the modern world. Mr. Balakrishnan served as the Chairman of the Board of Governors of Indian Institute of Management Calcutta for two successive terms spanning over ten years. IIM Calcutta achieved phenomenal growth and international recognition during his tenure and his contributions were recognised by the institute by conferring him the Distinguished Alumnus Award in 2017.