Graduates opt for start-ups By Manish Gupta Chairman JIMS, Rohini
0n Jun 29, 2016
Source: http://www.dailypioneer.com/avenues/graduates-opt-for-start-ups.html
Manish Gupta talks to Neelakshi Malik about the Udgam Incubation Centre and E-Cell that is helping students launch start-up ventures
What is the purpose of launching Udgam Incubation Centre?
We’ve observed that a lot of start-ups are unable to get funds and proper mentorship. If there is zeal in entrepreneurs and their idea is right, UDGAM aims at providing a strong backing to make their dreams come true and successfully launch them with their value creating initiative. We’ve already funded around seven companies in the entertainment, education, human resources, automobile, beauty and lifestyle segments.
How do you go about mentoring entrepreneurs?
Our faculty, which has been working with different domains, is helping students in research and development work, understanding the consumer behaviour, product testing, data analysis etc. Moreover, we have a strong line-up of guest faculty which shares first-hand experience about the industry and discusses how to deal with the challenges in the field. We guide them on how to set up business ventures and effective operation and productivity.
What kind of projects have been funded by this incubation centre?
Jyoti, a PGDM student, has been able to get funding for her venture Globox which is an online monthly-based subscription service for beauty products. Manhar Gupta and Prachi, MCA students of JIMS, also received support from college for their online venture Wholesale Bazaar which aims at preparing software for people in wholesale markets to sell their products internationally. They have already created a prototype which will soon going into testing.
What are the latest developments in the start-up culture?
Apart from the youth, a lot of people in their 40s, after working for some other company, are coming up with their start-up ventures. Also, a lot of graduates have now opted to become an entrepreneur rather than a salaried employee, not just to make their dream venture come alive but for their own job satisfaction.
Tell us about the E-Cell ?
We have an Entrepreneurship Cell by the name of Tarkashin through which we organise events like e-summits, entrepreneurship week, business plan competitions, simulation exercises, guest lectures, mentorship sessions etc. It brings the students in direct contact with the industry professionals for guidance and exposure.
What are the skills required to become a successful entrepreneur?
Students must be risk taker and constantly working hard with sincerity towards the growth of your venture. Success doesn’t come quickly. Thus, students should have perseverance and never give up spirit. If you work six hours initially, you might need to work eight hours.
What changes would you like to see in the entrepreneurship sector?
The Government should simplify the rules as much as possible as some of the rules announced in the last few months are unclear. People investing money should become more liberal and co-operative. I’m sure, we are on the way to becoming the next Silicon Valley.
What are your future projects?
We have set up a skill development centre at Mundaka, Spain, and aim to reach out to as many people as possible, especially those who are unable to pursue MBA. We will be helping them set up their own ventures here.
(Manish Gupta is chairman of JIMS, Rohini)