Dilip Mathur has been associated with the startup of several Indian companies in labor-intensive industries, so chosen because of their high employment-creating potential.  One of the companies was Moja, in Harayana, India, which produces shoes for Nike and Reebok and provides employment to over 1500 workers.  An electrical engineer by training Mathur has worked in the High Tech industry and was the CEO of Axiom Technology, a semiconductor equipment company which merged with a now public company in 1989.  He is also a Trustee of Chinmaya Mission Boston where over 350 children receive spiritual, language, and music education.  He has taught the Sunday Geeta Satsang to adults there for several years.

He is a graduate of the Indian Institute of Technology Kanpur and the Massachusetts Institute of Technology Cambridge, MA.  He lives with his wife Estelle in Lexington, Ma and they have three daughters who have established themselves in successful careers.

Could you describe your journey from India to the USA?

After graduating from IITK in 1968 I came to MIT.  I planned to finish my education and return to work in India. I met Estelle nine days after arriving in the US.  After completing my degree Estelle and I went to India where we were married. I worked for IBM there and we lived in Delhi for three years before returning to the US.

Estelle and I really enjoyed our time in India. When we were about to have our first child we realized that we had to make a decision about where we wanted to live. At that time traveling to the US from India was very expensive on an Indian salary, while traveling to India on a US salary was more affordable. For the sake of staying close to both families we felt that living in the US was a better option.  We stayed very connected to India and our children are close to both families.

You were CEO of Axiom Technology in the 80s. Could you describe that experience? To what would you attribute your success?

I did not start the company but was hired to develop the business. In the beginning, running a company seems daunting but once you do it you realize that it is fairly straightforward.  It is a challenge to work with technical people on the one hand and venture capitalists on the other. Venture money was much tighter then.

I had learned how to sell, how to make a compelling case from the customer’s point of view, and perhaps that helped. As a CEO you spend a lot of time selling – either the stock or the product. We had a lot of really smart people.

After running a company in the US you turned to investing in manufacturing in India when investing in India was not very popular. Nor was the manufacturing sector very easy to work in. What motivated you to do that and how was that experience?

I got a chance to help in creating employment in India.  My brother was from the shoe industry, which is very labor intensive, and so the Moja project to manufacture shoes for Nike and Reebok was a natural fit.  My brother was the CEO. It was very difficult and exasperating to start a manufacturing company in those days for there were many restrictions imposed by the Indian government. But it was also rewarding to provide nearly 1500 workers, mostly women, with jobs. The whole area around the factory prospered, because for every direct job you create you get five indirect jobs.

I also learned a valuable lesson - for about $1000, and with 3 months training, you could create basic lifetime employment for a person. It is the wrong mindset to think that India has poor people, that poverty is the problem. The fundamental problem in India is unemployment. Train them, give them a job and people become independent and start sending their kids to school. Some of our entrepreneurial creativity has to go to creating micro businesses, or micro franchises, to bring those untouched by the economic system, “ economic untouchables”, into the system.

Taking high priced Nike and Reebok shoes to the Indian consumer was a tough sell. People were shocked that a pair of Reeboks cost Rs 3000. One wholesaler said that for that much money he could buy a buffalo.  The team had to work with the brands to create shoes that were priced for the Indian market. Product development in India has the advantage that you are forced to be creative to meet Indian price points.

What advice would you give people who may want to do a startup?

People have far more potential than they themselves realize. If you have the drive to do a startup, my first advice is: do not hesitate, do it, risk it. Seek out an experienced entrepreneur to mentor you. We in Boston are very fortunate to have many successful entrepreneurs who are happy to help. Join TiE. I also recommend training in public speaking. Conveying ideas simply and inspirationally is an important aspect of leadership. Look at Obama. A quick and easy way to learn public speaking is to join the local Toastmasters club.

Your other passion besides entrepreneurship is Vedanta. Could you tell us a little about your work with the Chinmaya Mission?

I was very fortunate to attend Geeta camps taught by Swami Chinmayananda and get an insight into Vedanta. The experience was transforming. I wish I had learnt it in my student days - it would have saved a lot of needless stress.

Vedanta is basically yoga of the mind - it helps a person to return to natural balance and high potential. Many things can make you smile, but Vedanta puts a smile in your heart. It takes the stress out of life, gives you a clear-eyed and grounded perspective, releases creativity.

Dr. Dwarakanath gave me the opportunity to teach Geeta classes at Chinamaya Maruti. I have really enjoyed it. It is a great institution, one of those hidden jewels, and I would urge everyone to visit, get involved, and make use of its many wonderful programs and services. Our Balavihar provides the piece that is missing in schooling – education in values, spiritual heritage, and culture. Dr Shashi Dwarakanath has developed a superb program.

Do you think the economic growth in India and consumerism is moving people away from Vedanta and spiritualism?

Gross consumerism? Look at it this way. That Rs 3000 the wealthy kid forks over for a pair of Nikes goes to pay a worker’s wages for a month.

Economic growth has been a boon for India. It has given Indians a self-confidence that they can succeed globally. I would not say most people are moving away from the spiritual. Indian life and culture is fundamentally spiritual. There are some that are not rooted in Indian culture and for them it is certainly a problem. But many college students intern at NGOs. And inspirational Indian entrepreneurs like Desh Deshpande and Narayana Murthy, who lead simple personal lives and spend their wealth, time and talent on social causes, are universally admired. More and more gifted people are realizing that it is fun and rewarding to be a karma yogi.

Is there a person who inspires you?

There are many but let me tell you about Meena.

Fifteen years ago when Estelle and I lived in Chennai, Meena, probably 20 at the time, was our cook. Estelle taught her English and even when we returned to the US we stayed in touch. Meena married, had a child. One year we learned that Meena had “adopted” 6 kids – the children lived with their parents but Meena provided them with uniforms and school supplies so they could go to school and get a midday meal. Meena’s program has grown. She has 150 kids now and they also get medical screening. Meena herself lives in a small room with no running water. Yet she finds money for tuition, books and clothes for children in her village. When we visited her three years ago I was stunned to hear her say, “I have so much. I have to give”.

Meena is naturally entrepreneurial and I am looking for ideas to set her up in a business that could employ about 20 people. Businesses are basically perpetual livelihood machines, like perpetual motion machines, and they can make people like Meena financially independent, which I think should be the first goal of social programs.

What is your current project?

I am trying to work out a model and prototype for developing micro-business franchises in India. My experience says that a $20,000 investment has the potential to create about 20 jobs. While there is great progress in microfinance there is not as much attention on the actual starting of businesses. I am actively looking for viable ideas for micro-businesses.

You have lived successfully in a multicultural family. Can you share the secrets of your success?

Thanks. Estelle and I enjoy each other’s traditions and decided to raise our children in both traditions. Fortunately, our children feel equally comfortable with Hinduism and Judaism and it did not lead to conflicts of identity. Nor is there a conflict in being both American and Indian. They say they feel special in having the heritage from both sides.

Thanks so much for your time.

Thank you.
 
 
 
 
 
 
 

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