The document discusses entrepreneurship and startups in a post-Covid world. It covers why entrepreneurship is important now, the typical journey of an entrepreneur including idea validation, design thinking, and investor pitches. It discusses practical aspects of starting a startup like coworking spaces, incubation centers, characteristics of founders and expectations of investors. The document also provides an overview of the current Covid scenario and what is known and unknown. It emphasizes the role of entrepreneurs, intrapreneurs and innovators in finding solutions. Finally, it presents a case study of Ignisnova startup journey at the Ignition Incubation Center.
2. This module discuss the Entrepreneurship Definition, Basic of Entrepreneurship, Entrepreneur As Organizer and Innovator, The Myth about Entrepreneurship, Functions of Entrepreneur, Types of Entrepreneur, Evolution of Entrepreneurship, Entrepreneurial Revolution, Characteristics of Entrepreneur, Entrepreneur Vs Manager, Corporate Entrepreneur, Entrepreneur Vs Intrapreneur, Entrepreneurial Decision process, Role of Entrepreneurship in Economic Development, Ethics and Social responsibility of Entrepreneurs, Opportunities for Entrepreneurs in India and Woman as Entrepreneur.
2. This module discuss the Entrepreneurship Definition, Basic of Entrepreneurship, Entrepreneur As Organizer and Innovator, The Myth about Entrepreneurship, Functions of Entrepreneur, Types of Entrepreneur, Evolution of Entrepreneurship, Entrepreneurial Revolution, Characteristics of Entrepreneur, Entrepreneur Vs Manager, Corporate Entrepreneur, Entrepreneur Vs Intrapreneur, Entrepreneurial Decision process, Role of Entrepreneurship in Economic Development, Ethics and Social responsibility of Entrepreneurs, Opportunities for Entrepreneurs in India and Woman as Entrepreneur.
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3. Let’s mute our microphones
Please post your questions on the chat window.
We will try to answer few of them in the time period…
.. Rest our team will get back to you later
Some Housekeeping before we start…
4. Why entrepreneurship is important career choice and why it is needed
now?
Typical journey of an entrepreneur and framework to help in this journey
– Characteristics of Entrepreneur
– Idea Validation
– Design Thinking
– Investor Pitch
Practical Approach of starting your own enterprise (start-up)
– Co-Working spaces and Incubation Centers
– Characteristics of Start-ups and founders
– Expectations of an angel investor
– Funding agencies
– Legal and regulatory Procedures for registration
Journey of start-up (Ignisnova) – case study.
Learning Outcomes
7. Current Covid Scenario – What do we know or don’t know !
What we know
– Number of cases are rising – we are no where to bend the curve
– Government is trying – but limited response due to geography /
population
– We are going through economic recession
What we don’t know!
– When will this pandemic end?
– When will be vaccine available?
– How long will the recession last?
Humanities Strong Belief
Nothing Lasts..
This shall too pass..
Our unwavering resilience
9. entrepreneurs: [ ahn-truh-pruh-nur, -noo r]
– noun: one who organizes, manages, and assumes the risks of a
business or enterprise
Intrapreneurs: [ in-truh-pruh-nur, -noo r]
– noun: an employee of a large corporation who is given freedom and
financial support to create new products, services, systems, etc., and
does not have to follow the corporation's usual routines or protocols. Or
entrepreneurs within existing organization
Innopreneurs: [ in-noh-pruh-nur, -noo r]
– Noun: Innovative disruptive entrepreneurs
Entrepreneurs / Intrapreneurs / Innopreneurs
10. Entrepreneurs will be tasked with finding the solution out of
this pandemic, for eg:-
– Healthcare (how, where and what of vaccine)
How vaccine will be manufactured and delivered in mass scale?
– Finance and economy (New models / new ways)
What will be financial disruptive innovations which will help quick
recovery?
– Logistics, transport, tourism
How will have efficient transportation considering social distancing
Why Entrepreneurship matters now than ever?
11. Entrepreneurs are not born, but are trained, groomed, motivated and mentored –
David Mccleland
Characteristics of an Entrepreneur
Traits
Need for achievements
Autonomy
Risk taking / Managing Risk
Creative innovation
Drive and determination
Belief in oneself
http://www.get2test.net/get2test.html
Competency
Initiative
Effective
Planning
Influence others
Empathy
Motivation comes from
– Personal characteristics
– Environment
– Business Idea
Entry Barriers
– Attitude
– Desire to wait
– Lack of confidence
– Approval of family
12. Journey of a Start-Up
IIC
Source – Sunshot Incubators
14. Idea Validation
Validation . (n) – the process of gathering evidence and learnings around
business ideas through experimentation and user testing, in order to make faster,
informed, de-risked decisions
Source – Board of innovation
15. Validation – Step by Step
Source – Board of innovation
Assumption: something you believe to be true without evidence to back it up
Hypothesis: Educated guess about what you expect in given experiment
20. Elevator Pitch
– A quick one liner summary that combines your vision / product and mission of
your company
– Short and memorable
– Relatable
Momentum / Traction / Expertise your key numbers
– Founders achievements
– Press / awards / pilots
Market Opportunities
– Size of market / Customer base
Problem and Current Solutions
– What need you fulfill
– Other solutions
Essentials of Investor Pitch
21. Your current solution
– Features of your product or service
Business model
– Canvas
– Key revenue streams
Market Approach and strategy
– How you grow your business
Team and Key stake holders
– Investors / advisors / mentors
Financials
Competitions
Your ask !!!! How much you want?
– Roadmap of spend
Essentials of Investor Pitch
30. High-speed internet, photo-scanning, conference rooms pay per use
plans.
Ideal for small teams that need 24*7 access
Dynamic seat allocation system ideal for freelancers and entrepreneurs
Networking events and wellness sessions that are a regular feature to
boost motivation and enhance creativity
Eg: Wework, innov8, 91springboard, Ignition
Coworking Spaces
31. Support for business development
Initial growth funds, network and linkages
lab facilities, mentoring and advisory support
Speedup the growth and success
IIT Mumbai & Delhi, T-TBI Kerala, Ignition Incubation Center
Incubation Center
32. Ecosystem – from idea to reality or from concept to
product
Support for business development
Initial growth funds, network and linkages
lab facilities, mentoring and advisory support
Speedup the growth and success
IIT Mumbai & Delhi, T-TBI Kerala, Ignition
Incubation Center
Incubation Center
33. responsibility is 10 times more
all decisions your responsibility
committed to the problem statement
You should be convinced to your problem statement
It should personally affect you
Characteristics of Start-up Entrepreneur (before…)
34. get some exposure, training, internship
Work if possible, in a start-up
Work under bosses with varied exposure
Grab any work allotted
Be flexible
Stay late, gel well with the team
Characteristics of Start-up Entrepreneur (before…)
35. Enthusiasm Always appear upbeat
if you get down the entire start-up gets affected
People will get affected by your appearance.
Your behaviour impacts everyone, Always stay
positive
Characteristics of Start-up Entrepreneur (after…)
36. Support system- people with experience
update them about your activity
Mock sessions for pitching, client talk
Bring industry guests, Brainstorm
Characteristics of Start-up Entrepreneur (after…)
37. Idea versus execution- idea -20-25%, execution-75-
80%
processes are the key to success
Pricing plan, prototype, POC - ready
Differentiating factor of Start-up with any other
business is scalability
Vision of the start-up should be grand
The Success Mantra…
38. scaling up or growing differentiator is process
orientation
process orientation is the most boring part in the
start-up journey but the most important
Persistence- how well you deal the mundane tasks
which are not so exciting
It is not so exciting to run the business
The Success Mantra…
39. Replicate- chain of restaurants challenges are
different from one restaurant
Iteration/pivoting/agility- improvise on model
continuously
Persistence- how well you deal the mundane tasks
which are not so exciting
The Success Mantra…
40. Angel investor can also be your guide
Find someone who understands you and your
product
Gradually he gets committed to your product and
start-up journey
You are growing the product. Don’t go for high
funding initially from investors
Angel Investors..
41. At the beginning stage get money from anywhere
w/o valuation
First Round (Internal) Mostly by founders
External Rounds Friends and Family (upto 50L)
Investor round
–Angel Investors (50L – 3Cr)
–VCs (3Cr – 10Cr)
Raising Funds
42. Don’t worry about profits.. But about the revenue (in the
beginning)
– All startups in the beginning are loss making- oyo, flipkart,
paytm, amazon
– mcdonalds-1997 was loss making for 18 years- first time
profit in 2018
Try to be Self sustainable model
How startup get valued so much
– Intrinsic value,
– scalability
Raising Funds
43. Pitch
Follow –ups (multiple)
Valuation and negotiation
Terms Sheet
Legal and financial due diligence
Agreements (Share holder agreement)
Money In The Bank (MITB)!
Typical Steps in getting investments
44. Before 2017: 5 years, < 25 crores, Innovate
After 2017:
–recognized by startup india initiative, as per
department of industrial policy and promotion upto
7 years;
–registered firm;
–turnover per year < 25 crores for the 7 years;
innovation;
– wealth creation; employment generation
Start-up Definition as per Govt. Of India..
45. Incorporating Start-Ups
Private Limited Company
Professional
Investors take you more
seriously
Compliance are more
Liability on entrepreneur is low
Divident- taxation 2 ways
Minimum 2 Directors
Limited Liability Company (LLC)
Easier
Taxation Slow
Minimum 2 Directors
47. States start-up Organisations:
– www.msins.in
– https://beabihar.in
– https://hyderabad.tie.org/
Incubations centres at IITs
– https://sineiitb.org/
Seed fund- 10 Lakh + Incubation
– https://www.birac.nic.in/
sparsh
DST (Department of Science and Technology)
– https://dst.gov.in
Funding Agencies
48. Vision
– To be all-encompassing start-up ecosystem that nurtures innovation and
research in budding entrepreneurs helping to propel the world into the future.
Infra Available
– Hardware Labs (PCB Fabrication and development, 3D printing etc)
– Workshops (mechanical and electrical)
– Conference rooms / Training rooms / Co-working space
– Bio Tech Labs
– Soil Testing Labs
– Irrigated farm lands under Krishi Vigyan Kendra
– Artificial Intelligence labs
Mentors
– Technology Experts, Industrialist, CA’s, Lawyers, Agriculture scientist
Website (http://www.iic-india.org)
Ignition Incubation Center
49. Ignition Incubation Center – Incubatees
Founder – Vijay Yelmalle
Start-up– Centre for Research and
Alternative farming technologies
Speciality and Innovation:
Hydroponics Aquaponics
Founder – Piyush Kumar / Shrishti Arora
Start-up – Ignisnova Robotics
Speciality and Innovation: Crop monitoring and yield prediction
Founder – Prof. Srihari Gaikwad
Start-up– Intellect System and
Automation
Speciality and Innovation:
Customized Tech Solution