With a premier B-school degree behind them and usually a plum job in hand, these youngsters are planning to do something different. Following a growing trend over the past few years, the IIMs have been seeing a few graduates opt out of the placement rat race. They chose, instead, to set out on their own, diving into the sea of destiny with their own start-ups and innovative business ideas.
As a result, IIMAvericks, a CIIE initiative, has come up with a capacity building workshop which is a distinctly different learning opportunity. The one-day-long workshop covered business model canvas, financial modelling, customer blueprinting, financial compliances, and bootstrapping. It was designed to help them understand the fundamentals of a starting up a business, gain some practical tips and resources that first time entrepreneurs can incorporate into their current projects and future endeavours.
In keeping with the Capacity Building Workshop approach, the sessions provided both networking time and a chance to hear speakers elaborate on the key issues faced by student entrepreneurs. The schedule of the workshop was as follows:
|Session||Explanation||Start Time||End Time||Conducted by|
|Introductory Session||Introduction to CIIE and how CIIE can help – a brief session||10:00 AM||10:30 AM||Kunal Upadhyay (CEO, CIIE), Prof Basant (Chair, CIIE Initiatives), and Prof Karna (Chair, CIIE)|
|Idea to Business Idea||How to craft the crispest business idea answering three major questions||10:30 AM||11:15 AM||Vipul (AVP – Social) & Mohsin (Program Manager – Cleantech Ecosystem Development)|
|Tea Break||11:15 AM||11:30 AM|
|Legal Processes||How to register a co, Tax liabilities, accounting||11:30 AM||12:30 PM||Sanea Vakaliya (Sr. Manager – Finance & Compliance)|
|Service Blueprint||Mapping customer journey||12:30 PM||1:30 PM||Ashwin Joshi (VP – Ecosystem Development)|
|Lunch Break||1:30 PM||2:00 PM|
|Using OpenFuel platform to design your BMC and product canvas||Simplifying the process of business modelling, MVP and other tools used||2:00 PM||3:30 PM||Yash Saxena (co-founder, Open Fuel Project)|
|How to bootstrap||Understanding and importance and concepts of bootstrapping||3:30 PM||4:30 PM||Mukesh Agrawal (co-founder, MediaAnt)|
|Tea Break||4:30 PM||4:45 PM|
|Financial modelling||Overview||4:45 PM||5:45 PM||Amber (VP – Infuse Ventures) and Vibhor (VP – Infuse Ventures)|
|Startup Meet||Young IIMAvericks (Batch 2014-16)||5:45 PM||6:30 PM||Kanupradeep and Srishtie (co-founders – WIMWI Foods)|
Young IIMAvericks Fellowship is a one-of-its-kind fellowship program for graduating students of IIM Ahmedabad, who want pursue their entrepreneurial dreams. The fellowship was initiated with the idea of helping these students with a grant to sustain themselves for the period of two years in the starting of their venture.
IIMAvericks Interns, piloted in 2015, is another distinct program facilitated by CIIE, where the first years of the graduate school opt out of summer placements to do some groundwork on their entrepreneurial dreams to help them understand the ground realities of starting up.