Entrepreneurship Cell

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The Entrepreneurship Cell , IIT Kanpur envisions a society of self-motivated individuals kernelled with constructive and intense entrepreneurial drive. The sole aim of it is to let the concept of entrepreneurship burgeon and evolve. The cell aims at building people with a strong work ethic who conceive and organize business ventures guided not by mere profit making fervency , but by the inbuilt urge to innovate, take risks , shoulder social responsibility and indulge in creative execution of vibrant business concepts. Motivated by this vision , IITK E- Cell believes in getting down to the brass tacks right away, create individuals and enterprises that are ready to take on the challenges in this cut-throat competitive world and do not melt down under the broad daylight. This objective is effectively met through the ground- level processes of networking student enterprises from campus to incubators, seeding funds and angel investors in order to support the newly born enterprises in their endeavours, and gradually lead them to figure as "GROUND BREAKING STARTUPS OF THE WORLD"

Contents

Events

E-Summit

E-Summit is an annual flagship event of IIT Kanpur effectuated with the intention to foster entrepreneurial initiatives and activities in the campus to accomplish IIT Kanpur's mandate of nurturing India's future technopreneurs. E-Cell IIT K's instauration in the 50th Golden Jubilee, Entrepreneurship year has led to the metamorphosis of E-Summit to Global E-Summit. Global E-Summit promises to be one of India's biggest entrepreneurial platforms for the academic community, venture capitalists, new age entrepreneurs and all those passionate about entrepreneurship. It brings them all to a common ground to engage in plenary, strategic and tactical breakout sessions with the common aim of promoting the entrepreneurship spirit. Global E-Summit forebodes to be a most enriching experience with numerous guest lectures, workshops and discussion panels. Sharing of entrepreneurship endeavour and experiences, discussion of ideas and opportunities will be a profuse learning experience for the active leaders of entrepreneurship in the savant community who can then disperse these ideas further. The Summit also brings together the various active Entrepreneurship Cells from across the nation providing a remarkable opportunity to synergise our activities for implementation of an effective entrepreneurial structure within our respective institutes. The focus of the summit remains to cater to the leadership qualities in an individual and stimulate him into unleashing his innovative streak.

TEDx IIT Kanpur

What the world calls experience, is always in fact, a new life-changing dimension that one's mind is stretched out to. It is this tapestry woven by the threads of ideas and the interlocking extensions of our experiences that we call LIFE. And what every experience gives us, is a valuable bequest that forever enriches the yarn of our life's tapestry – a skill au courant, a skill that helps us build future with our own hands. This skill set bunched up with our wealth of experiences, in essence, define what we are and what we make of our life – how we flower into the extraordinary. As they rightly put it - "Ah, mastery... what a profoundly satisfying feeling when one finally gets on top of a new set of skills... and then sees the light under the new door those skills can open, even as another door is closing." In the small eventful packet of Life, let's start with first putting in the inherited knowledge and lessons learnt from our past generations to give a strong base, add spices with experiences- each giving a different flavour, call the obtained mixture a new skill, and use it to prepare the dish called "Innovation". That's how we connect the dots to complete the picture- take the pencil of honed skills to connect the dots of what we know and what we can construct. With this new picture, let's build a new world- a world of perfection, a world of knowledge, a world of empowerment within. A world, that connects the unconnected dots to make the right frame.

Ideas

With perennial belief in the above mentioned aphorism, Entrepreneurship Cell at IIT Kanpur structures its annual B-Plan competition "Ideas" to integrate the innovative minds of the fledgling entrepreneurs at a common platform and to furnish the promising ones with such discipline so as to enable it to transform into flourishing companies which continue to innovate with time. IDEAS functions as a bellwether event of Techkriti, the annual Technical and Entrepreneurial Festival of IIT Kanpur. It provides a real life experience, minus the material risk, for evaluation of one's business strategy. The gap between a plan on paper and the one ready to be showcased to the world is filled by expert guidance, exposure to the venture capitalist world, networking resources, acquisition of team skills and an accomplished leader to mentor you in the process. Ideas, currently in its third year has witnessed 1,200 business plan entries and with such an acclamation it is on its way ahead to leave a grand Pan-Asian mark. To enhance the constitution of the event, Entrepreneurship Cell, IIT Kanpur, also incorporates in it a prominent initiative of Social Entrepreneurship or Social Venture Track. It distinguishes the ventures promising a significant social impact and also seeks out to educate people to develop and evaluate ideas regarding the same.

Besides the lacs in cash rewarded to the distinguished business plans, mentoring from leading Venture Capitalists, seed fund for market research etc. are the other lucrative rewards whose importance is difficult to gauge in monetary terms. In the Social Venture Track, winners and finalists are allowed direct entry in the social business plan competition of the Dell Social Innovation.

Initiatives

PRIME '83

Promoting Research, Innovation, Motivation and Entrepreneurship (PRIME83) is an initiative generously supported by the alumni of 83’ batch. This programme aims to develop a culture of creative ideas with focus on technology within the students of IITK. The primary aim of this program is to give wings to entrepreneurial dreams of the students. PRIME'83 will support student ideation and incubate their ventures while assisting them throughout with mentorship, grants and research scholarships.

SIP (StartUp Internship Program)

Ever since E-Cell IITK became a functional body, it's cardinal guiding philosophy has been undying diligence and relentless effort-making. Cognizant of the nuts and bolts of a successful entrepreneur’s making, it completely realize the worth of a budding entrepreneur’s aspirations. Thus, all its endeavours are aimed at helping its associates (students as well as corporates) hit just the mark when it comes to the right opportunity.

In keeping with this spirit, the E-Cell started a ‘Start-up Internship Program’ in 2011-12, wherein start-ups from all over the world were sent an invite at the onset of this program, and those interested were further communicated with. The companies were required to send in a detailed account of the internship profile that they offered, for ease of students, who were then required to submit their resume. After shortlisting of their CVs, the students were required to sit through an internship selection process, after which the companies finalized their selection as an intern for summers 2012. The statistics of this program are a tell-all tale. The phenomenal success of this initiative can be measured from the fact that more than 200 companies start-ups were invited and more than 150 students have been given unimaginably diverse, creative and dynamic internship opportunities in their opted field, along with the very first hands-on experience with the REAL PROFESSIONAL WORLD.

Campus Activities

StartUp Case Study Competition

This is an effort to understand and validate what entrepreneurs actually do as they develop their startups. To get to know the intricate details of the working of a startup, the problems faced by it and how the opportunities that come on the way can be tapped and performance enhanced - this and all more gives the students a real flavour in the working of a start-up. The case study familiarizes them with the alien territory so that when they chose to have their own startup, then they can step in the market with a firmer foot, having some idea about the way round the place.

In such competitions, the Startup comes forward with the field/topic it wants the student to do the case study on and provide the required data and requisite access to the working for the same. The student is expected to find out the loopholes, if any, or help the entrepreneur gain some insight into how the startup can bring in some modifications to help the company benefit.

Thus, a symbiotic relationship is shared between the two parties involved. On one hand where students get a real time experience of the startup working, in a risk free environment, the startups get to utilize the country’s elite brains to figure out solutions to help them excel.

Ideation Workshop

Every business idea needs to have a commencement point. Ideation helps you visualise a business opportunity by identifying market demands and analysing competitors and it is the starting point of all ventures.

E-Cell organises an ideation workshop for the freshers where they need to mine new ideas from the old stock of newspapers and magazines. This gives them the initial dose of broadening their thinking horizons and helps them gain a new perspective of the world around. Emphasis is to use the real world examples and analyse them to come up with a sound business idea.

Besides giving them a fun experience where they utilize their creative potentials, this workshop proves to be the introductory course of entrepreneurship for the students as now their mind is open to the idea of identifying a potential business opportunity around them and use their creativity techniques to further it.

Case Study Workshop

A Business case study is a detailed account of a company, industry or a business project. It includes the company’s objectives, strategies, challenges, results, recommendations and more. Thus, case studies provides an unparalleled opportunity to know about the working know how of a business enterprise.

E-Cell organizes case study workshops by professionals to familiarize the students with the approach required and technicalities involved in writing a case study. With the expert inputs and guidance of the business professional, the students gain an edge over the other amateurs who will be participating against them in the various case study competitions.

This enables them to not only utilize the opportunity to learn about the functioning of a company, but people also have an added incentive of winning a competition

Entrepreneurship Game

To sharpen the understanding of entrepreneurial process and gaining knowledge about the various issues needed to be dealt with in a startup, E-Cell presents the Entrepreneurship Game - a fun way to gain the experience of being an entrepreneur (and less painful ofcourse).

The fundamental idea being to stimulate both the processes - start and finance the company, the participant will be required to act as both an entrepreneur and as an investor. As a business entrepreneur where one will learn to communicate one's business ideas with other people, as an investor one will learn to distinguish between the bad and good opportunities. Creativity mentoring, analyzing, communication, negotiations and a lot more skills will be tested on this platform to prepare you for an avante-garde entrepreneur.

Spread out over a period of 6 weeks, there will be 7 stages in the game. At each stage each team will be presented with one assignment. The number will thin out as the weeks proceed and the final (virtual) successful entrepreneur will emerge out by the end of the sixth week. The 'virtual' can really be dropped for having been through such a detailed experience, of starting a company, its just a matter of time, he actually will utilize a real-life business opportunity to his favour.

Not to forget that by winning this game, the student might have just earned his first income- for there are exciting cash prizes to be won in the game.

Fun plus learning plus money. Who would want to lose out on this one!

Product Design and Advertising Competition

Design is a funny word. Some people think design means how it looks. But of course, if you dig deeper, it’s really how it works... To design something really well, you have to get it. You have to really grok what it’s all about. It takes a passionate commitment to really thoroughly understand something, chew it up, not just quickly swallow it. Most people don’t take the time to do that. ” - Steve Jobs

E-Cell organize an annual product design competition to cater to the innovative nerve of the budding entrepreneurs. With the elite technical brains of the country, it is only natural to expect the students to come up with some exceptional product designs and ideas from time to time. Many such products hold the potential to create a wave of excitement in the market. IF ONLY the technician knows how to market it! With this competition, all such innovative geniuses get a platform to showcase their talent to the world. The field being no restriction, one can come up with product designs ranging from software tools to hardware devices to eco-friendly consumer products and more.

The promising ideas will be selected for the next round which requires the participants to advertise their product. Its a common practice that the famous leaders have always given a tagline, a quote to the world which has had a significant impact on its target audience. Having come up with the product design, the competition gives the students the chance to follow in that league and give their products a tagline, chose their advertising strategies and see how well can they can influence the market to accept their product . This is a most crucial step for its not a rarity to have a good idea go down the drain before the world registers its existence.

The most exceptional product designs which registered well with the community will be chosen to be funded to the next level. Here, the technician will enter the entrepreneurial world and will gain the potential to win over the world by his 'technopreneurial' spirit !

Biz Simulation Game

To constantly engage the attention of the bright minds, E-Cell organizes a Biz-Game, Business simulation game that model the business world realities in a competing gaming environment.

It is fun to play and simultaneously helps you learn about how business takes place in the real marketplace. It proves to be instrumental in providing insight into topics such as buying and selling shares of stock, inflation and deflation, economic change, and financial planning strategies. Amateur students fancying of entering the business world will learn many basic economic principles via the game and they can better understand the real worth of money and purchasing power. Many a times the drive to win the game, acts as a compelling force to learn more about economics and market functioning. Besides, the game can inspire creative ideas for real-world ventures. The strategies used in the game can transform to real world business dealings, for it helps to broaden the player's horizons and helps him learn new ways to create business opportunities. A fun and effective way to learn, Biz Game is surely a not to be missed opportunity.

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