Pre Conference Workshop On Start-Ups
Preconference workshop on start-ups in association with Kanara Chamber of Commerce and Industry (KCCI) was organized on Wednesday, 19th February 2020 at Nethravathi Auditorium.
There were more than 300 participants in the workshop out of which 96 participants comprise of members from corporates, faculty members and students from institutes in and around Mangaluru
Objectives: Students should be encouraged to develop an entrepreneurial mindset through experiential learning by exposing them to training in cognitive skills (e.g. design thinking, critical thinking, etc.), by inviting the first generation local entrepreneurs or experts to address young minds. Initiatives like idea and innovation competitions, workshops, seminars, conferences, exhibitions, mentoring by academic and industry personnel, throwing real-life challenges, awards and recognition should be routinely organized. To prepare the students for creating the start-up through the education, integration of education activities with enterprise-related activities should be done. With this objective workshop on startups was organized.
The workshop began with the prayer; Ms. Rahasya
Pai from KCCI welcomed the gathering, Mr.Isaac Vas, President of KCCI
inaugurated the workshop by lighting the lamp. Mr. Kudpi Jagadish Shenoy,
President of Womens’ National Education Society (WNES) presided over the
Addressing the gathering, Mr. Isaac Vas said that there are three types of entrepreneurs: Those who do business solely for profit, those who believe in giving the best products and services to consumers and lastly those who want to bring about change. “Ideas that seemed crazy or even imaginable just a few years ago are commonplace today,” he said, pointing to Uber, Ola, and Airbnb as examples.
He advised the delegates to harbor high entrepreneurial vision. “The world is changing demographically and there is enough space for new entrants in business,”
Dr. Molly S. Chaudhuri, Director of MSNM Institute gave a vote of thanks. Mr. Muddassir Khadar, Asst. Professor was the programme compere.
Mr. Ajith Kamath K.,
Mr. Naveen Narayan, Mr. Santosh Prabhu, Dr. Madanmohan Rao, and Mr. Avinash
Karanth are the resource persons for the workshop. WNES Vice President Mr. Manel
Annappa Nayak and members Mr. Nagar Narayan Shenoy and Mr. Raghav Kamath were present.
Inaugural program was followed by technical sessions.
Expert Session 1: Business Plan
Speaker: Mr. Ajith Kamath, Proprietor of Ajith Enterprises
Kamath cited examples from his own journey, such as becoming eligible to bid
for contracts by first becoming a sub-contractor to gain experience. He also
called for more exposure about the business and entrepreneurship world for
engineering and IT students, and vice-versa.
Though circumstances may change the business plan helps see broader connections, and holds the founders and employees accountable to their commitments. The very act of writing things down makes concepts, marketing, and financials more explicit, Ajith explained.
Expert Session 2: How to fund your Start-up
Speaker: Mr. Naveen Narayan, Fellow Member, Institute of Chartered Accountants of India.
Funding needs for entrepreneurs vary across the stages of ideation, discovery, validation, customer creation, and company building. Funding sources for the startup journey vary during ideation (self-financing, business plan competition prizes, family), validation/seed (angels, crowdfunding, incubators, government grants), early traction (Series A: early stage venture capital), and scaling (growth stage VCs, PE). There are also grants given to new startups, but not to modified entities formed by splitting up or the reconstruction of an already-existing business. There are also grants given to new startups, but not to modified entities formed by splitting up or the reconstruction of an already-existing business. Mr. Naveen advised founders to research the implications of each type of investment with respect to risk, repayment, involvement, duration, and return to investors, pressure, and decision-making.
Expert Session 3: Legal Compliance
Speaker: Mr. Sathosh Prabhu, Co-Founder Intelex IP Solutions
Mr. Santhosh Prabhu said, the foremost and pretty crucial thing after the incorporation of a business entity is to follow up with its compliances. Hence, before you register your company, you should know whether you would be able to comply with its compliances or not. But how would you figure out? For the same, you need to find out the compliances of the business entity you have chosen to register with. He also gave the details regarding the registration process and formalities.
Expert Session 4: Business Scalability
Speaker: Dr. Madanmohan Rao, YourStory Media TiE Bangalore
Dr. Madanmohan Rao insisted on the journey from ideation to scaling up business ideas. Founders need to reflect on their journeys and aspirations and decide whether they want to remain small enterprises or global players. He also gave examples range from corner medical shops to large-scale chains like Radha Medicals or CVS. Ola and Paytm are good examples of Indian startups going global.
Expert Session 5: Native Startups
Speaker: Dr. Lionel Aranha, Chartered Accountant & a Lawyer in consulting practice in the Finance & Legal Area.
In his session Dr. Lionel Aranha discussed the different ideas for entrepreneurship while looking at innovation leading to Start-up/Incubator. He discussed the different concepts and issues related to upcoming entrepreneurs with reference to global examples and challenges in the world economy at large. He also invited students to discuss any of their ideas or business in-process so as to make it more realistic and opportunistic.
All the sessions were followed by questions and answers session in which students got their doubts solved. All the speakers’ encouraged and motivated participants to think out of the box and insisted the youth to be in start-up and create the success story of their own venture. The program was quite informative and interesting too.
Feedbacks were taken from all the participants. Positive response was received from major set of participants, with most of them requesting for further such workshops.