Empresario 2016 asserted that there is no looking back for start-ups now
Indian start-ups received funding of Rs. 50,000 crore last year and the number is growing with each passing day. After US and U.K, maximum numbers of start-ups are emerging from India. Even Chinese investors have invested 3 million to 7 million dollars in Indian startups during last few months. Govt. of India and the state government are introducing start-up friendly policies. The start-up wave is taking our nation by storm and Empresario, an inter-collegiate entrepreneurship fest held on 26th and 27th February at EDII campus asserted that there is no looking back now.
The institute in association with Gujarat CSR Authority and Gujarat Seeds Corporation Ltd. held Empresario-2016, a state wide start-up hunt in the month of February. In order to shortlist ideas for the final round, boot camps were held at 10 different locations of Gujarat including Ahmedabad, Gandhinagar, Rajkot, Surat, Baroda, Mehsana and Anand. The final round of Empresario-2016 was held at the institute on 26th and 27th February. From every nook and corner of the state, 135 start-up ideas were submitted out of which 30 ideas were selected for the final round. Out of these, 17 ideas were shortlisted for fund of Rs. 40,000 under the sponsorship of GCSRA for developing a prototype. Most of them belonged to Agribusiness, renewable energy, art, craft and digital initiative. The finale of Empresario was accompanied by a start-up fair at EDII campus in which 50 start-up ideas were displayed.
While inaugurating the start-up fair, the Chief Guest Shri Sanjay Prasad, IAS, Principal Secretary of Labour and Employment Department, Govt. of Gujarat said, “There is a start-up surge in the country. Entrepreneurs are becoming more ambitious and investors are getting bolder. Most importantly the consumers are more receptive than ever to these new local offerings. We are now seeing more acceptances from India’s market.”
As a nodal institute, Entrepreneurship Development Institute of India (EDII) will invite and motivate innovators for innovation and will allow innovators to utilize facilities available in the institute. The institute will also provide mentorship to potential start-ups.
The Director, Dr. Sunil Shukla also said that, “The culture of entrepreneurship was never this inspiring and motivating before inside and outside of EDII. I am glad that EDII is contributing to the state and country’s ‘Start-up Movement’ and has taken an initiative to organize such Start-up fair.”
Shri Sunil Shah, the Chairman of All Gujarat Innovation Society and Shri Sunil Parekh, Corporate Advisor of Zydus Group marked their eminent presence at the inauguration of the start-up fair.
According to a survey, the failure rate in start-ups is as high as 70 percent and 66 percent entrepreneurs go back to their salaried jobs. Shri Parekh said, “Start-ups fail because they develop products for which there is no market and thus cannot connect to the customers. Another reason for failure is they run out of fund and they are not good at money planning. Third one is they do not develop right team.” He asserted that innovative ways of delivering solutions are much needed.
Remarking one of the chief reasons of failure, Shri Sunil Shah, the Chairman of All Gujarat Innovation Society said that, “Start-ups begin with great idea but couple of months later they are confused and thus lose their way. Start-ups should always confine to their core ideas and it will work.” He suggested entrepreneurs to rethink every time, “What are we into?”
A survey conducted on 4000 startups suggests that the biggest concern start-ups are facing is existing tax laws and complicated system of regulatory compliance. Apart from that, access to fund for developing idea is difficult for start-ups in India. But the experts suggested that Government at both Central and State level is promoting start-ups and is coming up with entrepreneur friendly start-up policies which will increase ease of doing business.
EDII Ranked 45 across India and 3rd in Gujarat by NIRF
As per the National Institutional Ranking Framework (NIRF) evolved by the Ministry of Human Resource Development (MHRD), Government of India, Entrepreneurship Development Institute of India (EDII), Gandhinagar, ranked 45th (overall rank) among India’s top 50 National Management Institutions. In all 3500 plus ranking applications were received by NIRF, of which 609 were from the Management domain. EDII stood at 3rd position among Management Institutes in Gujarat. Moreover, EDII was ranked 30th for its Research and Professional Practices (RPC) and scored 73.95 for the same. All participating Institutes were ranked on basis of five broad parameters ‘Teaching, Learning and Resources’ (TLR), ‘Research and Professional Practices’ (RPC), ‘Graduation Outcomes’ (GO), ‘Outreach and Inclusivity’ (OI), and ‘Perception’ (P).
Expert Committee Constituted by AICTE for Preparing Start-up Policy
Dr. Sunil Shukla, Director, EDII has been appointed as a member on the special committee constituted by AICTE (All India Council for Technical Education) for preparing start-up policy for students of technical institutions. National Policy for Skill Development and Entrepreneurship 2015 has emphasized upon the need for entrepreneurship education in 3000 colleges. In line with it, AICTE has constituted a five-member committee of experts to prepare start-up policy for students of technical institutions in the country.
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]
The institute will help potential entrepreneurs convert business ideas into business empires
Pioneer in Entrepreneurship Development Programme (EDP), EDII has now become synonymous with entrepreneurship as well as success. The driving force of entrepreneurship movement in the country, the institute has won accolades on education and training front. With over three decades of experience in training, EDII strives to improve performance of existing enterprising in India by guiding them in all spheres of entrepreneurship such as technology selection, introduction of innovation, promoting tie-ups by networking, suggesting new sources of funds, developing competencies and teaching them new methods of marketing. Now, EDII is developing Technology Business Incubator to provide one stop solution to all the budding entrepreneurs.
With wide-ranging activities, the institute has created substantial pool of budding entrepreneurs. Now, with the help of Department of Science and Technology of Government of India, EDII is going to come up with Technology Business Incubator (TBI) to support potential entrepreneurs convert innovative business ideas into ventures.
EDII is equipped with physical infrastructure to set up a business incubator and will provide modern facilities including existing library and information center to the incubates. EDII has also signed MOUs with Gujarat Technological University (GTU) and Pandeet Deen Dayal Petroleum University (PDPU) to support student start-ups. Apart from that, EDII is affiliated with Government of India’s Ministry of External Affairs, Ministry of Textiles, Ministry of Food Processing, NSTEDB, DST, DC, Ministry of MSME, Ministry of Rural Development and Ministry of Panchayati Raj to promote entrepreneurship education and training. In addition to that EDII has been training students in diverse sectors such as agriculture, food processing, manufacturing, engineering, textile, IT, renewable energy, service sectors and several others.
Through intensive training, the students of EDII have come up with 73 innovative business ideas that are being nurtured by internal and external faculty members. EDII is also planning to come up with various short-term training programmes on Entrepreneurship Management to help convert innovative business ideas into business empires.
Technology Business Incubator (TBI) in a Nutshell:
The Technology Business Incubator (TBI) center will help potential entrepreneurs grow their business ideas. It will provide guidance regarding patent and IPR (Intellectual Property Rights) and will also aid them with necessary counselling and networking. It will also conduct short-term programme on entrepreneurship management. The experienced faculty of EDII will provide all-inclusive guidance to the prospective entrepreneurs for setting up business.[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]
Co-founder – Nikita Maheshwari & Shikhar Maheshwari
In last 5 years, we all have grown up experiencing e-commerce and tech-enability making convenience a form of lifestyle. Everything is just a click (and these days rather a fingertap away).
Food, clothing and now housing (the quintessential Roti, Kapda aur Makkan) have all found their way to the 5-inch platform. Amongst all the others having your own Makaan is everyone’s lifelong dream. However, despite several platforms coming up on the ‘buy, sell and rent’ model there was a visible gap in the home décor, beauty and aesthetics segment in the construction industry. One can definitely buy, sell and rent houses but what about homes? Here is where me and my brother saw a window of opportunity.
We decided to venture into coverings and tiling. The idea was even more workable due the proximity of Morbi to Ahmedabad. This small town houses an industry size of USD10 Billion within the periphery of 50 Km. having almost 1500 manufacturing units for tiles, sanitary ware and other coverings. However, the biggest challenge was that the market having huge potential is highly unorganized making it inaccessible to the the right customer at the right time.
Thus, Tilebazzar was born. We wanted to bridge the gap between the manufacturing industry and the consumer and in turn helping the industry to organize itself on the virtual space. We wanted to provide every stakeholder a levelled platform to reach out to the masses across the country. We at Tilebazzar aim at providing a variety of choices at affordable price under one roof and also to provide end-to-end solutions within budget to beautify houses for customers and also provide greater exposure to the small and medium enterprises at Morbi to to come on board and showcase their products.
To make Tilebazzar a reality and covert the idea into right product, it was very important that the stakeholders understood the concept and tell us their problems. Thus, we created a beta website and conducted our market research for 6 long months formulating different services that would assist everyone- Manufacturer, Builders, Architects, Dealers, Developers and the Government as well. Our moto stands simple – Every Covering @ Every Price.
We are planning to launch Tilebazzar by the third week of May. We are proud to be first of its kind platform which shall not only provide you coverings but also provide creative solutions so that you get your dream house in just the way you imagined it to be.
Tilebazzar plans to do two things in future – Firstly, bring a behavioral change in the way our county perceives aesthetics in Building & Construction Industry. Secondly, we also want to make Morbi the epicenter of Ceramic/Vitrified Tiles, Sanitary and other coverings for the world in next 5-7 years. Myself and Shikhar want to make this town as Ceramic “Silicon” Valley because we understand our true success does not only lie in our personal achievements but also in the success of each and every stakeholder involved in the process right from the grass root level.
P.s. To every woman entrepreneur out there- if you are taking a chance to enter a male dominated industry, don’t back down, you will find your place give it time. But walk tall and stay strong.[Top]
The EDII or Entrepreneurship Development Institute of India is a not-for-profit institution and an autonomous body. Due to its excellence in the field of entrepreneurship and its contribution to the Start-up India programme, it has been declared as the nodal institute for start-ups by the Gujarat state government.
In its role as nodal institute for start-ups, the EDII will provide the required guidance and counselling sessions to entrepreneurs who are thinking of establishing their own companies. EDII’s pro entrepreneurship schemes vastly benefit those who want to innovate and experiment in the fields of biotechnology, manufacturing, plastics, agri-business, chemicals, and food processing.
EDII: A Class Apart
The Entrepreneurship Development Institute of India was established with a particular vision in mind which is to become a reputed national resource institution involved in research, training, institution building and entrepreneurship education.
The main aim of this institution is to send out smart, competent, logical and creative thinkers who will introduce fresh ideas into the entrepreneurial world along with young talent and deeply rooted ethics and morals. The EDII also has a duty towards overseeing the growth and development of small and medium enterprises (SMEs) and ensuring that they grow into the major corporations of tomorrow. The EDII provides institution building and research, management education and training.
Achievements of EDII
• A huge number of 1286 students who have graduated from PGPs.
• A large group of 12770 learners who are registered for Open Learning Programme.
• The institute has imbibed the entrepreneurial spirit in around 1090 youth and 1895 children.
• A large number of 12,900 students who are pursuing entrepreneurship.
• A total of 920 students from JGI, Bangalore who have pursued EDII’s course at graduate and post-graduate levels.
• EDII has around 4.5 lakh students who are interested in entrepreneurship and the institute has organised close to 6000 entrepreneurship awareness programmes.
Courses Offered at EDII
There are two post-graduate programmes available at the EDII. One of them is PGDM-BE and the other is PGDM-DS.
• PGDM-BE: The Post Graduate Diploma in Management- Business Entrepreneurship was specially designed to enable students to set up their own businesses and provide them with the necessary skills, knowledge and talent to expand and diversify their business enterprises. This course is also very helpful for those who are expected to take over their family business someday.
• PGDM-DS: The Post Graduate Diploma in Management- Development Studies is one of the flagship courses of the EDII and was specially created to provide students with proper analytical and conceptual skills needed for managers of tomorrow. Developing entrepreneurial solutions to poverty and low level of livelihood is also a part of the academic programme. This management programme also helps people to think of new initiatives for corporate social responsibility (CSR projects) and to help build up the economy through entrepreneurship.[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]