Kanwaljit Singh, Helion with Laura Parkin, NEN

"What we are seeing is tremendous excitement of young people who are willing to give up their comfortable jobs to become entrepreneurs. India is poised to become the fountainhead of innovation. We have received 1,000 proposals since we started Helion two years ago, and it is just the tip of an iceberg," Kanwaljit said. 1,000 proposals probably means there are 1,00,000 new entrepreneurs out there, he explained.

Here is a list of success mantras, shared by Kanwaljit:

• You need to have a vision and long term plan
• How you build your business is entirely your responsibility
• Flexibility in business, people, organization and management practices is key
• Focus on the teams that you build around your organization
• Be passionate, even foolish, while chasing your dreams