New Venture Course (NVC) by BITS Pilani

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The purpose of this course is to not only study entrepreneurship but practice it. Student teams are expected to create a technology/product based startup and write a business plan including all the …

The purpose of this course is to not only study entrepreneurship but practice it. Student teams are expected to create a technology/product based startup and write a business plan including all the building blocks of creating an enterprise.

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  • 1. New Venture Creation Course 2012 Information Session Rachit Parekh, BITS Spark Connect Team1 Brought to you by: BITSAA International, EDIPRU and
  • 2. RAJU REDDY Currently Executive VP, Global Services and Member of the Board – Hitachi Consulting • Former Founder and CEO, Sierra Atlantic •BE (Hons) EEE •1976-1981 •Program manager, Pentium Software Programs, Intel (1984-1993)• IT services company founded in 1993• 2300+ employees in over 20 countries• 2008 top 25 Best Places to work in India.• Takeover by Hitachi in 2011 2
  • 3. PHANINDRA SAMA Founder and CEO of Redbus.in •BE (Hons) EEE 1998-2002 •Design Engineer at ST Microelectronics •Design Engineer at Texas Instruments• Founded in 2006 and has over 250+ employees• Rs. 300 crores of Ticket Sales in 2011-12• First company to sell bus tickets using technology• Amongst 50 Most Innovative Global Companies by Forbes• Raised over 42 crore of VC Funding 3
  • 4. Gagan Chaddha Founder and COO of Valuefirst • MSc (Tech.) Engineering Technology (1994-1998) • ME Software Systems (1998 -2000) • Telcon (2000-2003)• One of the fastest growing companies in India• Plans to be IPO ready in 2012 > 100 crores turnover and 55-60% growth• Raised Rs 70 crore from HSBC Private Equity Asia• Largest Web based enterprise product in the world > Billion messages/month• Now Present in Nigeria, Pakistan and UAE also 4
  • 5. They learnt Entrepreneurship by doing it… "The critical ingredient is getting off your butt and doing something. The true entrepreneur is a doer, not a dreamer.” - Nolan Bushnell, Atari Video Games “The way to get started is to quit talking and begin doing.” – Walt Disney “Vision without execution is hallucination” - Thomas Edison 5
  • 6. What is NVC / New Venture Creation Course Develop and Execute startup idea Write business plan including all building blocks Work with assigned Mentors to fine tune Learn via guest lectures from entrepreneurs and investors Win Pre-seed funding post semester Preferred access to Manoj Saxena pre-seed funding and DST grants, and access to BITS Spark Mentors & Angels 6
  • 7. Why NVC? Graduated 24 teams (since 2009). 4 teams moving onto Pre Seed Funding stage:  Smartec: Innovative Database Systems  TunePatrol: Social Music Discovery  Aadharshila: Interactive Online Education  Photowalkr: Photography Education Note that the course only provides a framework, the teams must seek, learn and build their startups themselves It’s intense and attendance IS COMPULSORY Who shouldn’t apply:  Casual learners or those looking for an easy grade. We won’t hesitate to give Cs & Ds  If you don’t have time to attend EVERY session. We have external speakers so it’s imperative that everyone attends 7
  • 8. Lectures & Pedagogy Lectures and other content  Approx 25-30 lectures on various topics related to starting and building an organization taken over web-conf.  Elevator pitch contest  Three pitch-deck presentations  Six 60-90 min skype sessions across the semester with the respective mentors besides interactions over mail etc.  Each team will be expected to start some work over the summer Speaker Profile  Entrepreneurs or Startup CEOs  Venture Capitalists  Industry Experts (blue chip companies, attorney etc.) Team  Size should be between 3 and 5  Teams MUST apply together 8
  • 9. Team and Mentoring Mentor  Each team will have an entrepreneur/Industry Expert/VC mentor  Mentors advise the startup on various issues, pitfalls etc. they may face  Each team will have 6 60-90 minute sessions on skype with their mentor + email discussions Grading  5% summer assignment  10% attendance, class participation, online discussion & surveys  20% mentor-mentee relationship  10% elevator pitch contest  10% first presentation  10% second presentation  15% final business plan presentation  20% product 9
  • 10. Few NVC Mentors and Speakers Abhinav Anurag Jain Rahul Sujit P – VT Bhardwaj Anand Daniel – Khushraj - –Perot Chandra – Convergent – Sequoia Accel Partners Nokia Systems Helion VC Technologie Capital VC s Garret Dodge Anil Advani – Nickhil J - - Roqbot Inventus Law Vuclip.com 10
  • 11. Next Steps: Application Process Entrepreneurship goals: max . 100 words Entrepreneurship efforts to date: max. 100 words Describe 1 team idea (each team member should copy/paste the biz idea in their application) – max. 200 words 1 individual idea – max. 200 words Team members: names and skills of each team member (max. 100 words total) All submissions to be in .doc format, all other formats will be REJECTED All applications to be emailed to nvc@bitsaa.org Submit by 15th April 2012, MIDNIGHT 11
  • 12. Contact Information: Sparks Connect Director of NVC, Spark Connect  Rachit Parekh (rachitparekh@bitsaa.org) Pilani Goa Hyderabad Prof. Arya Kumar Prof. Mridula Prof. Lalitha ( ( ( Faculty aryakumar@bits-pilani.ac.in mridula@bits-goa.ac.in lalitha@bits-hyderabad.ac.in ) ) ) Abhinav Khushraj Alumni Director (akhushraj@bitsaa.org TBA TBA ) Rishabh Gupta Ishan Kawley Pradyumna Murhar Student ( ( ( Representative rishabhgupta2000@gmail.com ishankawley@gmail.com pradyumna.murhar@hotma ) ) ) 12