Startups are fast beginning to make a name for themselves across the country with all that they are achieving. It wasn’t long ago that a new startup, started by our student Rishabh Hundia which aims at meeting a production gap for busbars, took its first steps into the world.
The Inspiration behind the Idea
The idea that laid the foundation for the emergence of Bus bar Manufacturing arose when the Rishabh Hundia was attending a ‘Make in India’ conference. It was at that same moment that the student’s father advised him to look at the copper bus bar market and see if that line of business appealed to him.
Belonging to a family that has been in the metal industry for the last four decades, Rishabh Hundia has always been around metals and had grown up with the desire to work with them. This was what gave birth to a love and attraction towards metals, right from a young age. This was how the first seeds of a Bus bar manufacturing startup came to be planted in his young, innovative mind.
About Busbar Manufacturing
The way a bus bar works is that it conducts electricity within various heavy electrical appliances. It is also used for switchboards, substations or distribution boards. Copper busbars are very useful for power grids as they help bring down the power loss substantially. They are used to conduct a substantial current of electricity but the amount of current that can be carried in them depends on the composition of material used and the cross-sectional size of the busbar.
However, the current condition of the metal industry as a whole is not at a very good place, on both the national front as well as the international front. So given that the industry is in a difficult situation, right now this young entrepreneur is working on learning about the situation in the country so that he can come up with a good plan of revival. If all goes well, the future for copper busbars is likely to be bright.
The Future of This Startup
By trying to stick to the ‘Make in India’ policy, wherein the Government focuses on setting up manufacturing units in India, there is certainly a lot of potential for this company to grow. There will certainly be a lot of demand for the product by new manufacturing units that will require it for electrification purposes.
However, currently copper busbars are being imported in thousands of tons into the country and since 2010, the demand for them has been growing at 11 percent every year.
How Has EDII Aided the Growth of this Startup?
EDII has been a learning ground that provided mentors and the right faculty to bring Rishabh Hundia’s idea to fruition. Not only do they strive to turn students into entrepreneurs but they also provide entrepreneurial experiences in different sectors.
After EDII scrutinized the student’s DPR and once it had received the stamp of approval by various industry experts and learned faculty, it gave this young entrepreneur the confidence he needed to venture out and put his idea to the test.
Many students that have passed out of EDII has testified to say that the institution does provide the best faculty and mentors who help students turn their ideas into a reality and this was what was responsible for Busbar Manufacturing becoming a reality and one with a bright future awaiting it. What’s more, EDII also provide the much needed seed capital to its deserving students to help their start-up idea see the light of the day.
Even though most of us live in a world where owning a car is a necessity, some basic maintenance needs to be followed. The most important one being- getting your car washed from time to time. A regular washing job helps protect the exterior of the car and ensure that the dirt and grime does not eat into the paint.
However, washing the car without the right tools can be a tiring and time-consuming job. This is why car washes are increasingly sought out by car owners who don’t have spare time on their hands. This is where Enzo Daily Car Wash – a recent startup by our student Rahul Gonsalves – comes into the picture.
The Inspiration behind the Idea
When cars are washed on a daily basis, a practice that is rampant today. there is always a lot of water wasted. After two to three months, the surface of cars starts to look dull. This is because servicemen mostly use unclean practices and follow an unhygienic process of cleaning wherein the same water and cloth is used for over 10 cars. This results in scratching the surface of the cars and causing them to look dull. It was this observation that led to the idea of providing customers with a ‘waterless, one cloth per car’ service.
What Does Enzo Daily Car Wash Have to Offer?
Enzo Daily Car Wash has been designed to provide a quick, waterless solution to professional car care. The product used is a high lubricating mixture that removes the dirt from the surface of the car and leaves it with a shiny finish. This product that they have created is an in-house product that has proven to be effective but which is not up for sale so you are not likely to find it elsewhere.
Currently, the startup provides prompt home service to customers. All you have to do is give them a call and they will have their team at your doorstep to wash your cars every day. Daily customers will be provided the service at an average cost of Rs13/- per day while retail customers will have to pay Rs. 50/- for the job. These prices are the lowest in the industry as this startup aims to provide you professional car care at affordable rates.
The reason they are able to provide their services at such low rates is because they have created a unique value chain of self manufacturing where they manufacture all related products themselves and use it to provide the service, this refuces the swelling of costs due to supply chain intermediaries. Currently providing their car wash services in 11 residential complexes, they are still looking to expand and are expected to start their service in four more localities by June 1. The startup has already partnered with a leading oil company and has set up wash stations at 25 petrol pumps along with an exclusive full wash outlet.
How EDII helped Enzo Daily Car Wash?
EDII aided the young entrepreneur in perfecting a business model for the startup. The knowledge and input offered there helped create an exclusive system of manufacturing and customer acquisition where they can service 321 cars with an investment of just Rs 1,20,000. EDII has assured Rs 3,50,000 as startup capital against the money invested. With the rate at which the company is growing, it expects to save at least 3,00,000 liters of water by December 2016 due to the direction and assistance offered by EDII. Most of the funds will be utilized to help the startup reach out to new customers.[Top]
Growth of tourism will lead to growth of art and craft industry Tourism has a great role to play in the expansion of art and craft business of the state. Gujarat, known for Patolas from Patan and Kutchi craftwork across the globe is one the finest manufacturer of art and craft products in India. Sensing the opportunity for the growth of art and craft industry through tourism, the institute in association with Tourism Corporation of Gujarat Ltd (TCGL) conducted Skill and Entrepreneurship Development Program for artisans in which total 161 artisans across the state took part.
During the ten-day program, participants learned how to promote traditional Gujarati art work in modern times. They were also taught not to limit themselves to traditional artwork and develop innovative products to attract tourists. The participants received practical training on how to develop innovative products. Crucial components of business development such as developing communication skills for selling art and craft products and keeping books of accounts were also covered.
Following areas were covered:
• Tour Operators / Travel Agents (100 trainees)
• Art & Craft (161 trainees)
• Eating Outlet Service (119 trainees)
• Defensive Driving & Grooming of Taxi / Auto Drivers (120 trainees)
Director, Dr. Sunil Shukla said, “Gujarat is rapidly growing in the tourism sector. Just like Madhubani art from Bihar and Terracotta from Uttar Pradesh, arts and crafts products from Gujarat too have potential to attract tourists. Value addition to the products and effective use of technology are two areas where artisans should focus to expand their business.”[Top]
First phase of SVEP initiated in 10 states
The institute has been selected as National Resource Organization (NRO) for Government of India’s Start-up Village Entrepreneurship Programme (SVEP). The programme was announced by Honourable Finance Minister in the previous year’s budget speech. Under the aegis of Ministry of Rural Development, the institute has initiated the programme in 23 blocks in ten states: Gujarat, Madhya Pradesh, Haryana, Jammu and Kashmir, West Bengal, Odisha, Jharkhand, Chhattisgarh, Telangana and Uttar Pradesh in association with respective State Rural Livelihood Mission (SRLM).
SVEP is dedicated to create sustainable self-employment opportunities for a large number of youth residing in villages. It also works towards bringing banks and financial institutions closer to the village entrepreneurs. The institute is conducting baseline and market potential study in the villages during the first phase. This data is collected through a mobile application. The institute has tied up with Enable Development Foundation to create digital database of the information received. For meticulous data collection, EDII has conducted VEIT training programmes for 184 data collectors selected from the blocks itself. The first phase of SVEP comprises Baseline, Benchmarking and Market Potential study through enterprise census and hotspot mapping, stratified sample survey of enterprise to assess business specific regional benchmark and household & institutional survey to validate expenditure pattern fetched from secondary data. The institute will also assess the scope of internal as well as external market. On the basis of information gathered, the institute will submit a detailed project report to the Ministry of Rural Development (MORD). The implementation of the programme will be monitored by Project Director, Dr. Manoj Mishra.
EDII Appointed as Nodal Institute for Start-ups by Government of Gujarat
With a view to encourage potential start-ups in the state, Ministry of Industries, Government of Gujarat, has appointed EDII as Nodal Institute for Start-ups under the Start-ups/innovation scheme. As a nodal institute, EDII will provide counselling and guidance to potential start-ups. Budding start-ups with innovative ideas in the fields of agri-business, food processing, bio-technology, chemicals, plastics and manufacturing will benefit from this.
Government of Gujarat, keen to promote entrepreneurship, has recognized need for start-ups as they “transfer new knowledge or new ideas into products and process into commercial applications.”[Top]
Since the year 2009-10, EDII has created a special pool of resources in the name, ‘Students’ Resource Fund’ for providing Seed Capital support to needy students from financially and socially challenged background of PGDM-Business Entrepreneurship Programme on Merit-cum-Need basis.
EDII has broadened this fellowship / grant support to provide small financial assistance to the students of PGDM-Business Entrepreneurship for enabling them initiating/starting own ventures. Such support will be given to students having viable and feasible business ideas, and as recommended by the fellowship committee (consisting of faculty, bankers and other experts).
A Bankable Detailed Project Report (DPR) needs to be prepared by the participants with regard to their ventures after conducting a thorough market research and secondary data based research along with IT based applications. At the conclusion of the field study, students delivers a written business plan for a new venture or expansion of current business, which will include analysis of the market and industry in which the business will compete, a viable financial and organizational structure, risk assessment, a marketing strategy and as appropriate, explanation of an underlying technology, manufacturing process and service delivery system. The final project report is prepared in a competitive format and is assessed by panel of experts comprising of faculty, industry experts and bankers.
Students working on their DPRs can register their names for seed capital support once the information is announced from PGP office.
The steps required to be followed are:
• Student should be ready with business project and basic business snapshot.
• The submitted business projects will be analysed by panel of faculty members and then it will be recommended for seed capital support
• EDII will provide counselling, support and services related to market survey, creating prototype, financial forecasting, interaction with bankers etc.
Primary sector focuses are software/IT, web/e-commerce, service sector, agribusiness, manufacturing/textile, food processing, renewable/clean-tech energy, chemical/fertilizer, power/electricity, electrical/electronic etc.[Top]
It has always been a major issue of debate for aspiring entrepreneurs whether to pursue a general MBA degree or not. Is it really necessary to go to business school and learn different managerial aspects and various business administration skills in theory? It might be better to invest that time, energy and effort into setting up a business and seeing to its growth and development.
However, a management degree in Business Entrepreneurship can be just the right balance. It will enable aspiring entrepreneurs to get access to required start-up capital from venture capitalists, help build contacts with alumni network and give them a perfect balance between theoretical knowledge and practical experience.
PGDM-BE at EDII
The Post Graduate Diploma in Management- Business Entrepreneurship is a residential, full time management entrepreneurship course which lasts for a duration of two years. This course is one of the most prestigious entrepreneurship programmes available in India and has been producing entrepreneurship students of an excellent calibre for the last 18 years.
Why is this programme worth it?
The Post Graduate Diploma in Management- Business Entrepreneurship has received certifications from many prestigious institutes and councils. Some of them are:
• Approved by AICTE (All India Council for Technical Education)- (Certificate)
• Association of Indian Universities (Certificate)
• Accredited by National Board of Accreditation (NBA)- (Certificate)
• Awarded USASBE Outstanding Entrepreneurship Program Abroad Award 2014 (Category)
This PGDM-BE programme was specially designed to encourage the business ideas and ambitions of aspiring entrepreneurs and entrepreneurial managers, to develop their critical thinking ability, to stimulate their creativity and to give students the opportunity to have an absolutely invigorating and enthralling management entrepreneurship education.
The PGDM-BE course mainly tries to improve its student’s entrepreneurial skills and help them to start small businesses, expand and go into different business lines. It also helps those who wish to be managers for corporate ventures run by entrepreneurs.[Top]
The EDII or Entrepreneurship Development Institute of India is a not-for-profit organisation which was established in 1983. It was set up with a specific vision in mind- to become an acknowledged national resource institute engaged in entrepreneurship education, research, training and institution building.
At EDII, the main aim is to turn out students who are competent, first generation entrepreneurs with creative genius and a strong moral and ethical code. It also aims at developing existing small and medium enterprises (SMEs) into thriving future corporations through value added management education, training, institution building and research.
The PGDM-BE programme or Post Graduate Diploma in Management – Business Entrepreneurship is a full-time, residential management course with duration of two years. The EDII has been producing students specialised in entrepreneurship education for the past eighteen years.
To be eligible, graduates belonging to general category need to have scored at least 50 % marks in graduation and in case of reserved students, only 45% is required. The PGDM-BE programme has a regular intake of 120 students per batch.
Interaction and Networking
The best part of the course is that students get to interact with people from diverse fields and pursuing various passions. This helps in developing the outlook of the students and gives them a general overview of the prevailing scenario. Besides, EDII helps students connect with budding entrepreneurs from across the globe through international exchange programmes. Students also get to visit foreign universities which further helps to enhance their knowledge and also build vital contacts.
What makes this programme special?
• Association of Indian Universities (Certificate)
• Approved by AICTE (All India Council for Technical Education)- Certificate
• Awarded USASBE Outstanding Entrepreneurship Program Abroad Award 2014 (Category)
• Accredited by National Board of Accreditation (NBA)- Certificate
This post-graduate diploma in management- business entrepreneurship was specially designed for entrepreneurs and entrepreneurial managers to develop critical thinking, encourage their ambitions and business ventures, and provide students with an intellectually stimulating and invigorating management education.
EDII also helps students to get summer internships working with premier organisations in order to gain some practical experience in the field. Students interested in starting their own entrepreneurial venture can also avail of loans from financial institutions associated with the EDII.
Some of the well-known organisations which offered summer internships to EDII students:
2. Hindustan Unilever Foundation
4. Business Standard
5. Catalyst Constellations
6. Brand You
7. Light Microfinance
8. Adani Port and SEZ Ltd
9. Prakash Chemicals
10. Green Electrical Private Limited
11. Gokal Das Exports
13. Indusa Infotech
14. Unified Brainz Virtuoso Limited
15. NJ India Invest Ltd
17. Uber Health
18. Macro World
19. Newcastle University Business School
20. Sahajanand Laser Technology
The PGDM-BE course primarily aims at developing students’ entrepreneurial skills in order to enable them to initiate, expand and diversify business enterprises. It also helps to create managers for corporate entrepreneurial ventures. It also helps those inheriting family businesses to develop the skills and gain the knowledge required for them to run these businesses successfully.[Top]
In today’s vastly competitive business world, small family run businesses are struggling to compete and survive. For such businesses to develop and grow, the younger generation needs to step up and take control of the reins. For a youth entrusted with the task of managing his family business, opting for a management diploma in Business Entrepreneurship is an appropriate and helpful choice.
The EDII or Entrepreneurship Development Institute of India offers one such PGDM-BE course which is specially designed to help future entrepreneurs. The EDII is a national resource organisation that was established in the year 1983 with the aim of providing entrepreneurship education, research, training and development studies.
The PGDM-BE (Post Graduate Diploma in Management- Business Entrepreneurship) is a full time residential course which takes a duration of two years to complete. It has been successfully preparing students for setting up their own entrepreneurial ventures for the past eighteen years. This course is designed to encourage lateral thinking and creative problem solving, to nurture entrepreneurial ambitions and to provide valuable practical learning experience.
To be considered eligible for this post-graduate programme, you need to have secured at least 50% in your graduation exams. If you belong to a reserved category, this is lowered to 40%. You also need to have valid XAT/CMAT/CAT/ATMA/MAT scores.
How can you be sure about the quality of this course?
The PGDM-BE at EDII has the following:
1) Approval from AICTE (All India Council for Technical Education)
2) Certificate from the Association of Indian Universities
3) The USASBE Outstanding Entrepreneurship Program Abroad Award 2014
4) Accreditation from the NBA (National Board of Accreditation)
EDII Entrepreneurship Process
At EDII, students go through a process which boosts their creativity, problem-solving capability and refines their entrepreneurial ideas. They are given a chance to develop their own business ideas and taught how to calculate feasibility of such ideas. Our students are taught by specialists in the field and learn how to create a business plan carefully and thoroughly.
EDII gives students a platform to make their ideas and future business plans heard and then helps them to get the required funding from various financial institutions associated with it.
The EDII Entrepreneurship Process includes the following:
• Confidence Building through Entrepreneurial Lab
• Idea Lab and Industry Interface
• Opportunity Identification and Selection
• Mentoring and Guidance
• Business Plan: DPR/FYPP
• Enterprise Launching and Management
• Sustenance and Growth
EDII PGDM – BE course is the perfect launch pad for future entrepreneurs who want to make their family business succeed in a global business environment.[Top]