Posts Tagged 'PES School of Engineering'

When Entrepreneurs Came A-Pitching

I recently sat through a couple of business plan pitches at PES School of Engineering, Bangalore, thanks to Nandini 🙂 (catch her here – forstartups). Some of the ideas I heard were very innovative and can compare against the best of breed any place in the world(execution still remains to be seen – but comparing idea to idea), while others, lacked the determination to convert a “very” feasible idea into a business. As the process unfolded, some aspects were extremely intriguing while others were very disturbing and I can’t help but write about them…so here goes.

1. Students when asked to look for ideas somehow refuse to look within themselves, their own experiences, their own pain points and even their own strengths in technology/marketing/writing skills. Instead, resorting to secondary sources to fetch ideas. When your baseline (the idea) lacks passion coming from somewhere deep within, it will be hard to sustain on an entrepreneur’s journey. We found that those few who either built on their strengths or perceived/real personal pain points were much stronger with their business pursuing plans

2. Students not looking beyond themselves sufficiently – now this may sound highly contradictory to what I just said above, but hear me out. When I said the above point I meant about the idea for which one needs exposure, which in turn can either happen due to chance or can be created. So, if only students realized that the real world is beyond the four walls of their home and institute and the “coffee” shop they hang out at, they would know where to go look for the experiences that in turn can help them create valuable businesses. Does this point make sense now vs the previous one?

3. No “real” world experience shows up in their operational plans – students need to go out and get as many internships as possible. It is not easy, I know, but just go and get the job or do some freelance work, create opportunities where you are creating something real and tangible and you will know the issues you face when creating/scaling operations. I’m not saying one should talk like a business tycoon, but no matter what you are not ready until you are and that “readiness” comes with field experience of some kind. The next best substitute would be to talk to a lot of working people in your interested domain/industry, but, secondary experience can only teach you so much

4. Students not leveraging technology enough – most ideas that we heard, the students had not thought through on how to leverage all the hi-tech around them to get a quick and dirty prototype up and running in minimal time, while at the same time giving them enough time to do a u-turn on the idea while the investments are still really low

5. They are still thinking about “doable”, “non-utlandish” ideas – all I have to say is guys – it is ok to do a doable, non-outlandish idea, but execution will be key. If you innovate, you have a chance to survive. Also, almost everyone can do a “doable” idea, the top 1% in this country should be creating disruptive innovations (market, business or technology) for the “real” needs that the country is facing

6. This brings me to the “last” and the “saddest” point – all the technology entrepreneurs – awesome ideas in the domain of Augumented Reality, e-waste management, electronic bike etc. – walked in alone, while all the “doable” idea guys walked in, in large groups. If we are to create a large entrepreneurial culture, we need to create innovation through products and services and we can’t afford our engineers and MBA grads to be shy of technology and true innovation related risks. Pull up your belts people, the wave will wash you over anyway, you can either surf it or chose to let it wash over you

I’d love to hear comments and thoughts around this and looking forward to more bplan pitches and lots of bubbling entrepreneurial energy creating interesting solutions and businesses from India.

Tie-ISB Connect 2009 – Part 1:Incubators

I attended the Tie-ISB Connect 2009 this year and to say the least, it was one of the most inspiring sessions I have attended in the recent past. Let me go over some of the highlights for those of you who missed and for the rest of us to keep pointers in mind, as we move on…(with the “rodent-sized memory” of ours – courtesy Siddharth of Rang De Basanti fame, during the panel discussion on Taking India Forward)

I will cover Incubators in this session. This was the first panel on JumpStart that was organized by Sanjoy Sanyal and had as panelists Nandini Vaidyanathan (Founder ForStartups), Sunil Maheshwari (Founder Mango Technologies) and Deepam Mishra (i2 India Ventures). All the three had incubators in common, where Nandini helps setup & run incubators in Engineering Colleges, Sunil was incubated in IIM-B and Deepam is trying to commercialize the technology present in our top-notch IIT labs.

The broad takeaways from startup perspective were –

1. Be ready to fail

2. Focus, Focus, Focus

3. Think big, thing different, think you – when you are solving a problem

4. And, last not the least, realize that incubators are good for money and the relationships  – everything else you need to do on your own.

Nandini went on to describe the ideal incubator as one that believes, funds, mentors and bridges (helps with networks) but the fact that no incubator perfectly does all of these shows that there is a lot of room for improvement. At the same time, her own efforst in this area and increasing awareness to spur entrepreneurship in the community has helped create incubators in engineering colleges that can help young startups attain success. You can read more about these efforst at her blog.

Next few sessions were around funding, growth, partnerships, next 800 Million Opportunities and taking India forward…that I shall cover in the next few parts of this blog series. In the meanwhile, please feel free to share your experiences, if you are looking to engage with incubators, please feel free to ping me.

PS: There is a 5 -day workshop on entrepreneurship being held from Nov 16-20th 2009 in PES School of Engineering by Prof Nandini Vaidyanathan and interested people should register before Nov 5th 2009.  Knowing Nandini, I would strongly urge anyone interested in entrepreneurship and startups to register and gain from the experience.


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