While getting funds or mentorship is a huge challenge for a new venture,help is now at hand for students of the Indian Institute of Technology (IIT),Bombay. A student at any stage of a start-up will soon be able to approach the entrepreneurship and business club,which was launched by the Entrepreneurship Cell (E-Cell) of IIT-B on Tuesday.
We intend to help aspiring entrepreneurs on campus at various stages of a start-up. Students can approach us and we will shortlist valid plans and provide them resources and funds. They will get an objective feedback from experts on parameters like scope of the venture,market and customer analysis and financial implications,among others, said Ayush Agrawal,manager of the E-Cell.
Last year,the institute had launched a programme called E-Garage,which was aimed at nurturing ideas and hatching businesses on campus. A collaborative effort of the E-Cell,Shailesh J Mehta School of Management and Society for Innovation and Entrepreneurship,it aimed at establishing a connection between technology and management. The club is a step forward in that direction,involving activities like case study sessions and business simulation.
Besides assisting those in various phases of a start-up,it will help students by identifying viable ideas and facilitate mentoring. It can then be converted into a feasible plan and taken to the level of implementation. Funding can be sought, he said. There will be regular workshops which will enable interaction between established entrepreneurs,investors and students.
However,a major focus of the club will be to target students who have vague or no idea about entrepreneurship and ways to start a venture.
A majority of students are job-seekers and not job-givers simply because they are more comfortable with the idea of working with an established company. We want to change this mentality. Also,alumni often tell us how frustrating it is to work under someone and that it is more satisfying to have ones own venture despite the risks involved, said Agrawal.
The club will have sessions for such students to explain nuances of entrepreneurship. An integral activity will be students day out where students will get a chance to work with successful entrepreneurs,chief executive officers,founders and big businessmen for a day.
They will get a taste of the challenges involved and how to go about ones work. Students can then take an informed decision whether they still want to seek a job or start something on their own, said Radhika Goel,E-Cells media manager.