Welcoming Start-Ups on Campus

New batch has just joined and is settling down. Studies have started and selection for various committees and clubs is in full swing. Many are eager to join the Placement Committee, M & PR Committee, Marketing Club or HR Club etc. There is one cell on campus which invites nominations from students who want to do something different. Entrepreneurship Development Cell (EDC) also popularly known as E Cell is the pre-incubation stage responsible for helping students develop new ideas and test them. Students may also explore their graduation projects as viable business opportunities.

 

E Cell momentum is catching up on campus. Last year there was a four students’ team who successfully worked on their ideas and decided to form companies. Two companies registered last year with IMI address - one each in domain of NFTs and EV cars segment. Two are being registered – one in domain of protein rich food and another in Mobile App for EV related services. All these start-ups are now being mentored by IMI Incubation Foundation along with our alumni start-ups and outside start-ups.

 

You are on campus for not more than 20 months (Mid July 2022 to Mid-March 2024). If you really want to try out a venture, you should start early with your ideas. There is not much to lose but there is lot to learn. It is said failure teaches you more than success. E Cell will help you identify problem and generate ideas or refine your existing idea and form a Company. Forming a company costs just 8 to 10 thousand rupees but shows your seriousness towards the venture. It also helps you avail monetary benefits from Startup Odisha, Startup India Seed Fund schemes etc. By the time you reach to third term and opt for course on Entrepreneurship Theory and Practice, you will be at the stage of prototype development. Summer internship period can be utilized to establish product market fit and generate traction for your venture. In second year, this helps you to pitch your venture for Early-Stage Growth Funding. You may take your venture as part of dissertation thesis.

 

Our suggestion is don’t wait for team members. It’s your idea, start early. People will join you if they love your idea. You may have members from anywhere in the world - IIMs, IITs or even MIT or Harvard. They should be adding value and be complementary to you. Don’t look out for friends and relatives.

Lastly, we would like to say that embarking on path of entrepreneurship does not stop you from taking summer placement or final placement through IMI. Rather your learnings may help you crack a better job. Entrepreneurship is a career option which you should try along with a job option. So go ahead and give it a try. IMI is there with you.

 

 

Chairperson – E Cell and Incubation Foundation                                                                  Dean Placements & Alumni Relations                                

Prof. Devesh Baid                                                                                                                           Prof Rahul Gupta Choudhary