I was invited to an India Insight Series luncheon by Sharon Bamford, CEO of  UK India Business Council UKIBC on 30th March at The Hospital Club, London – a unique private members club for the creative industries. Why do I mention the venue specifically? Because it is owned by a P.E firm backed by Paul Allen, and has plans to open premises in Mumbai along with other exciting places such as Paris, Madrid, Barcelona. Go Mumbai!

In my characteristic ebullience, I had mentioned to Sharon that I was very resourceful, and she could ask me for help if UKIBC ever needed my Indian contacts. And the sessions promised to cover Macroeconomic indicators, Risks, Operations, HR Policy & Regulations, Taxation, Accountancy practices and Legal framework. Given my imminent plans to host an International Summit in Geneva for global investors about India as a favored investment destination (in the tradition of hosting summits to discuss issues of global importance at the world headquarters of United Nations), my curiosity was piqued about what UKIBC had to offer me in terms of ideas for Geneva! For those who are keen to understand the implications of doing business in India, the presentations are posted here:

UKIBC India Insight Series London 2010

India in a challenging regulatory and tax environment – PwC

What really caught my ear though was the story of a fledgling creative entrepreneur who had flown from Manchester to Mumbai to set up shop – David Walter of Photolink Creative Group.

‘Tell me a story!” – every child

David grabbed the attention of the child in me when he started telling the story animatedly about flying to Mumbai one day with just a brief from Argos (I mean the creative brief) to do a home catalog for the  Indian market, and NO plan whatsoever. He had already imbibed the Indian ‘jugaad’ spirit when he convinced himself he would just ‘figure it out’ as he went along. His first resource came in the form of our prodigious Mahesh Bhatt, who was having dinner in London with David’s wife at the time David was on his Indian adventure. Then he talks about how things fell in place so elegantly from hiring his first photographer to finding technicians on the sets one morning, at very short notice, supposedly to erect 12 bollywood studios in 48 hours – and they deliver on their promise!

But, as we all know – India is not for the faint-hearted! Just to compensate for the colourful, spontaneous and fun-filled first days of David, there unfolds the saga of a foreigner embrolied in Indian Law & Disorder situation.

Too used to the predictability and safety of investments in UK, and encouraged by his burgeoning India business with briefs from NCPA, and Westside, David decided to lease space for his premises at a Mumbai mall. As soon as he had begun his interior work,  he began being haunted by police and the community conscience keepers about how he could not,  till they were silenced by bribes. Then the work began in earnest. Amidst much chaos one of his managers falls down a pole one day, warranting a visit by a ‘holyman’. By this point I was convulsing with laughter at the absurdity of it all. Did all this happen, just because David was a foreigner? I am sure, it did. In David’s words he was just plain unlucky to have chosen to be the first entrant into that unoccupied new mall, which got trapped in legal quagmire, thereby trapping David’s GBP350000 in the mall. The alleged owners of the mall had an injunction against them that prevent them from taking any decisions on the property. But, David hasn’t lost heart, nor his hopes on India. David is going strong, and is still in love – with India that is!

Then I saw a few really interesting videos by Advaia Diversity Solutions.

Setting: British businessman goes to India to meet his potential business partner, an Indian SME entrepreneur

I was certainly amused as I could perfectly relate to the points being driven home by the videos, even resorting to mild exaggeration at times, as actors enacted the conflicting cultural behavior and attitudes – for example of Indian stretchable time, or of importance that Indians place on building a relationship first before coming to the business, which might seem to be inefficient to a foreigner at the outset, but nevertheless very effective.

I came across some slides by my friend Mohan, an IIT Madras alum and ex Chief Scientist India of IBM, which I attach here in the hope that we can all foster, facilitate and incentivise innovation all around us.

Can India be an Innovation Superpower Mohan UCSC Lecture Series 3-2010

On my part, I am about to organise an event for entrepreneurs at The London Business School on 5th May – Venture Lab on Getting Investment Ready whereby 4 Venture Capitalists will advice early stage companies on how to create value and unlock hidden potential from their businesses. You can register for the event at http://venturelab.eventbrite.com

Venture Lab at LBS presented by Genius Incubator

Arifa Khan is the Founder and Managing Director of Genius Incubator.

Genius Incubator, Unleashing the genius in you…