On the occasion of World Entrepreneurship Day, Amity Business School, Amity University Madhya Pradesh hosted a webinar on "Challenges & Opportunities for Budding Entrepreneurs" on 21st August 2023. The event aimed to provide insights into the world of entrepreneurship, shedding light on the obstacles that aspiring entrepreneurs might face while also highlighting the vast opportunities that lie ahead for them.
Event Schedule:
The event commenced at 10:30 AM with Saraswati Vandana, invoking the blessings of wisdom and knowledge. This was followed by a brief introduction to World Entrepreneurship Day, setting the tone for the discussions ahead.
Opening Remarks by Lt Gen. V.K Sharma (AVSM) Retd.:
The Hon'ble Pro Chancellor of Amity University Madhya Pradesh, Lt Gen. V.K. Sharma, (AVSM) Retd. delivered the opening remarks. He emphasized the significance of self-motivation among individuals aspiring to become entrepreneurs. Hon’ble Pro chancellor stressed the importance of effective time management in the entrepreneurial journey. He highlighted the role of the internet as a powerful tool for market exploration and competitive analysis. He also pointed out that opportunities are abundant in developing countries and discussed specific sectors like healthcare, information technology, food industries, and tourism as potential fields for budding entrepreneurs to consider. He also discussed the issues surrounding the problems faced by developing countries like India and suggested to address the problems which is faced by large and diverse populous countries like India. According to him, the real opportunity lies in solving the problems faced by such large populace. He gave suggestions for successful Product launch and go to market strategies like selling and reaching out to the customers using different channels. He emphasized the creation of a startup ecosystem which caters not only to bigger cities but also bring up small town entrepreneurs and make them equal partners in growth story of Indian Startup landscape.
Address by Mr. Raghunath Medge - President, Mumbai Dabbawalla Association:
Mr. Raghunath Medge, the President of the Mumbai Dabbawalla Association, shared insights from their unique business model. He talked about their commitment to simple yet effective techniques and their dedication to environmentally friendly transportation using bicycles. The organization's micro-management approach, exemplified by receiving the Six Sigma award, was highlighted as a key factor contributing to their success.
Today Mumbai Dabbawallas is recognized all over the world, with case studies published in HBR and documentary made and aired on BBC. Management Gurus like CK Prahalad have acknowledged the work being done by the organization. Many other prominent Industry personalities have recognized the contribution of Dabbawalla.
Address by Mr. Rahul Chaudhary - CEO and Founder, Ricron Panels:
Mr. Rahul Chaudhary, CEO, and Founder of Ricron Panels, shared his entrepreneurial journey. He emphasized the significance of the right place, right time, and the right team in entrepreneurship. He shared valuable insights into the importance of building a strong team and cultivating a supportive ecosystem for business growth.
Address by Mr. Nitin Pamnani - Co-Founder, iTokri.com:
Mr. Nitin Pamnani, Co-Founder of iTokri.com, spoke about his mission to preserve and promote handcrafted items through his platform. He discussed the challenges and opportunities in sustaining traditional crafts in a modern marketplace. His talk highlighted the importance of bridging the gap between artisans and consumers while preserving cultural heritage.
Address by Ms. Surabhi Shah - Founder, Carrageen:
Ms. Surabhi Shah, Founder of Carragreen, shared her vision of contributing back to society and the environment. She emphasized the responsibility entrepreneurs have towards sustainability and discussed her company's endeavors in creating eco-friendly products. Her talk underscored the significance of ethical and environmentally conscious business practices.
Presenting E-Memento to the Guests:
As a gesture of appreciation and gratitude, e-mementos were presented to the distinguished speakers for their valuable contributions.
Concluding Remarks by Prof. (Dr.) Anil Vashisht:
The event concluded with Prof. (Dr.) Anil Vashisht, Pro Vice Chancellor, and officiating Vice Chancellor of Amity University Madhya Pradesh, delivering the concluding remarks. He expressed his gratitude to the speakers for sharing their expertise and insights with the audience. He reiterated the importance of fostering an entrepreneurial spirit among students and emphasized that such events play a pivotal role in inspiring the next generation of entrepreneurs.
The webinar successfully provided a platform for budding entrepreneurs to gain valuable insights from accomplished professionals, learn about challenges they might encounter, and explore the opportunities available in various industries. It was a day dedicated to celebrating entrepreneurship and encouraging individuals to embark on their entrepreneurial journeys with confidence and determination.
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Envisaged Outcome
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Tangible/
Intangible
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Achieved/ Proposed
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Target date & responsibilities
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Details of outcome
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I. Outcome related to Academia Connect
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The panel discussion served as a significant bridge between academia and the startup ecosystem. The event provided students with invaluable insights into real world entrepreneurship.
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Collaborate for Research internships/ Projects etc.
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Mentorship and guidance of students by startups
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Research Scholars and Students are advised to prepare review articles about the startups that participated in the event and also plan further activities like ideation, opportunity analysis before launching a new startup
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Research Scholars and Students have learnt about different types of entrepreneurship concept like resource allocation, Opportunity analysis and Team building.This academic connect was further strengthen by commitment to mentor and guide students in their entrepreneurial endeavors, fostering a culture of experiential learning and innovation.
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II. Outcome related to Industry Connect
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The event facilitated a robust platform for industry-academia convergence as startups shared their journeys, including triumph and setbacks.
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Several startups expressed interest in partnering with the university to provide workshops, internships, and guest lectures.
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Students gained profound understanding of the practical aspect of entrepreneurship
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Startups expressed interest in partnering with the university to provide workshops, internships, and guest lectures
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This enhanced industry connects not only offered students a chance to gain hands-on experience but also allowed startups to tap into fresh talent and innovative ideas emerging from the academic environment.
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III. Outcome related to Society Outreach
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Benefit to society in terms of environmental challenge posed by single-use plastics and addressing it with the help of biodegradable packaging and promoting the innovative recycling of plastics into building material like plywood- Ricron panels.
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This event served as a catalyst for local initiatives to reduce plastic consumption, recycle waste, and explore creative alternatives.
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Student became aware and understood the importance of creating new products based on sustainable technologies
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Participants can share information on use of bio-degradable packaging and use of panels by recycling plastics to the people in their contact.
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By spotlighting the innovative approaches of startups in tackling these pressing issues, the event sparked a wider dialogue on sustainable practices within the community.
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IV. Outcome related to Students Learning &Grooming
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Witnessing the first hand accounts of startup founders navigating hurdles and capitalizing on opportunities enriched students' understanding of entrepreneurship beyond theoretical concepts.
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The startups' advice on skills, resilience, and adaptability resonated deeply with the students, fostering a growth mindset.
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The event triggered the formation of entrepreneurship clubs and mentorship programs where students can continuously engage with the startup ecosystem
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Students not only imbibed essential entrepreneurial skills but also developed a sense of self-confidence and an eagerness to embrace innovation.
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Students not only imbibed essential entrepreneurial skills but also developed a sense of self-confidence and an eagerness to embrace innovation.
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V. Any other
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Overall, the panel discussion created a multifaceted impact, bridging the gaps between academia, industry, society, and student development. The outcomes of this event are poised to contribute significantly to the university's entrepreneurial ecosystem, nurturing the next generation of innovative thinkers and business leaders.
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