Entrepreneurs and venture capitalists flock to IMT-G's Startup Fair 2011
Forty startup entrepreneurs and host of venture capitalists were on hand to share their experiences and offer words of wisdom at Institute of Management Technology, Ghaziabad's Startup Fair 2011, October 15.
- (1888PressRelease) December 27, 2011 - Following the traditional lighting of the lamp by IMT-G Director Dr. Bibek Banerjee, Hitesh Oberoi, founder and chief operating officer of Naukri.com, led the list of entrepreneurs, sharing his experience of starting and managing Naukri.com, along with a string of portals such as shiksha.com, jeevansathi.com, foodiebay.com and brijj.com.
Dealing with the ins-and-outs of the digital world, he said if a business is directed toward the needs of the target audience, it will be a lucrative and successful venture, but warned patience and persistence are needed and not to expect top-end results from day one.
Following the entrepreneurs, who each had two-and-a-half minutes to speak, came the venture capitalists, outlining their expectations of a startup business and what factors they looked for when investing.
Ms. Padmaja Ruparel from Indian Angels Network said startups are judged on the content of their pitch: PODs, scaling of strategies, returns planned in three to five years, revenue modelling and eminent members.
Bipul Kumar from Tatsam Sports, an ex-IMT student who runs a start-up company himself, told the crowd the biggest hassle of a startup is the cobweb of operational hazards like finding office space.
Here, he said, the IMT-G Incubation Center comes to the rescue, being an aggregation of all services required in the beginning, so one can focus solely on the core strength and core business.
The founder of Beyond Plus 2 said, "Entrepreneurship means doing something differently and no faculty can teach 60-70 people that at one go. However, a B-School like IMT gives you a kick-start and makes you believe that there is life beyond a job. Giving emphasis to real life cases, instead of theoretical knowledge, helps in assimilating hands-on knowledge. Fairs like Start-Up Fair 2011, help you get in touch with many like-minded people by giving a detailed view of the market, helping you connect with people who can help you grow and also giving you a morale boost."
Encouraging students further, Rashmi Bansal, author of 'Stay Hungry Stay Foolish', 'Connect The Dots' and 'I Have A Dream' and co-founder of youth magazine JAM (Just Another Magazine), was on hand to deliver a motivational talk. Bansal underlined the fact students, at this stage of their life, are usually unclear about their career path and goals and said this dilemma can be solved by deciding between two paths - 'to do what one loves' or 'to love what one does'.
Giving a real-life example, she cited her own case and explained how faced with these two options she chose to be a writer and entrepreneur, despite being from one of the finest B-Schools in India.
In its 30 years of existence, IMT Ghaziabad has been constantly encouraging students to dream and realize those dreams. Startup Fair 2011 is just one of the innovative ways IMT is encouraging and motivating students to push their boundaries.
An annual event, Startup Fair 2012 promises to be even bigger and better than this year's smashing success.
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