The Entrepreneurship Development Cell (ED Cell) and Institution’s Innovation Council (IIC) at SiliconTech organized a series of webinars on ‘Opportunities for Early Stage Entrepreneurs’ from 12 August to 14 August 2022. The objective of these webinars was to inform the young entrepreneurs about the scope of entrepreneurship and encourage them to utilize the available opportunities for their maximum growth and profit.
Mr. Siddharth Bhatter, Founder, Karkhana addressed the first webinar on 12 August 2022. He spoke about ‘Innovation/ Prototype Validation’ and described the process of ideation and selecting the best ideas to build products or services. He also discussed how the design thinking process can help entrepreneurs get a clear picture of the problem they identify and how they can convert that into viable business ideas. He shared examples of start-up founders who used this method to address their challenges in business.
Dr. T. Pavan Kumar, Senior Scientist, Dept. of R&D Planning and Business Development, CSIR-Institute of Minerals & Materials Technology, Bhubaneswar gave two webinars. He discussed about ‘Accelerators/ Incubation – Opportunities for Students & Faculties’ in the second webinar on 13 August 2022 where he advised the audience members to convert their ideas into a perfect prototype in order to take advantage of market development assistance and funding schemes. Dr. Kumar spoke on ‘Angel Investment/ VC Funding Opportunity’ on 14 August 2022 where he introduced the audience to the concept of angel investors and the difference between angel investor and venture capitalists. He also explained how an angel investor provides a large cash infusion of their own money to an early-stage start-up and in return, the angel investor receives equity or convertible debt. In addition, he highlighted all the key issues, such as the risk factor in receiving funding from angel investors, ample business knowledge and the demand for large stakes from angel investors.
Our young entrepreneurs gained a deeper understanding of entrepreneurship and benefitted a lot from these webinars.