ENTREPRENEURSHIP

A National Faculty Development Program on Entrepreneurship was organized by Entrepreneurship Development Institute of India, Ahmadabad during 19th December 2016 - 30th December, 2016. The FDP was sponsored by National Science & Technology Entrepreneurship Development Board, Department of Science & Technology, Government of India.

Dr. Aditi Paul, Assistant Professor at Dronacharya Group of Institutions, Greater Noida attended the FDP along with 24 other participants from reputed academic organizations across India, including Oriental University - Indore, Vivekananda Institute of Management and Research, Sri Ramdeobaba College of Engineering and Management - Nagpur, Global Engineering College - Jabalpur, SIES - Mumbai, Shaheed Sukhdev College of Business Studies - Delhi, Maharashtra Vidyapeeth, Pune University, Siddaganga Institute of Technology, Central University - Karnataka, DCE - Gurgaon, SRPEC - Unjha, etc.

Day - 1 (19th December 2016)

The FDP started with the inaugural speech of Mr. Pankaj Bharti, Coordinator of the FDP. He welcomed all the participants and wished them happy learning days ahead.

Dr. B.B. Siddiqui, Specialist in Finance & Management conducted the Ice - breaking Session, He first divided the participants in two groups and asked to interact. He later made new group of four participants and asked each group members to discuss about their hobbies among themselves. He again dissolved the groups and made a new group of six members each and asked to share two strengths and two weaknesses of each member. The outcome of the activity was that each of the participants now knew each other very well and communication became friendly and interactive. Dr. Siddiqui said that knowing each other in a group is the first step of entrepreneurship. Ice breaking session is important to break inhibitions.

The next session started after tea - break. Dr. B.B. Siddiqui, explained the process of Entrepreneur Development by giving examples of McClelland, the Father of Entrepreneurship. Dr. Siddiqui explained the meaning of Entrepreneurship which comes from the French word “Entrepondre” which means to take over or carry out responsibilities.

Post lunch, Prof. Dr. Sunil Shukla, EDII Director, gave examples of various entrepreneurship organizations in India and their functionalities. He explained how academic organizations can establish entrepreneurial activities in - house. For this he discussed about various schemes launched during 2015 - 2016 by Government Bodies.

During the last session of the day, Dr. Siddiqui conducted a cyclometric. The session ended with a brief on the need of such type of tests by Mr. Pankaj Bharti.

Day - 2 (20th December 2016)

Day - 2 started with a recap of the first day. Dr. Siddiqui then started the session with the four needs stated by McClelland which are needs for achievement, needs for affiliation, needs for power and needs for extension.

Participants were put to test for “Thematic Apperception Test” in which 6 pictures were shown to the participants each for less than a minute for which they had to write a story.

The session continued after lunch with another exercise “Ring Test” in which participants had to throw rings to a target with some predefined number of trials. The objective of the exercise was to explore the risk calculating capacity of the individuals and their observations and learning abilities. Mr. Chain Singh, Asst. Professor, from Dronacharya College of Engineering, Gurgaon scored 100 which was the highest score of the event.

Day - 3 (21st December 2016)

Day - 3 started with the recap of day - 2 post which Dr. Siddiqui explained the objective of the Ring Test exercise. He said that Entrepreneur should have N-ache ie they should be forward looking, hard working and feedback seeker.

Dr. Siddiqui stated 11 points for achievement motivations those are necessary to create and develop a need for achievement in an entrepreneur. These are Need, Activity/act, Goal Anticipation for Success, Goal Anticipation for Failure, Personal Difficulty Block, World Difficulty Block, Help, Happiness at Success, Disappointments at Failure and Theme of Achievement.

The next session was on “Forms of Business and Statutory Requirement” which was conducted by Mr. Jignesh Singh, CA. He first explained the concept of enterprise and the factors to create new enterprise. He discussed different types of organizations i.e., Partnership Firms, Private Limited Companies, Co-operatives, Joint Hindu Family Business, LLP etc.

Day - 4 (22nd December 2016)

Day - 4 started with the recap of day - 3 post which a session on “Identification of Business Opportunities and Sources of Information” was conducted by Mr. J.B. Patil who has more than three decades of experience in the areas of business opportunity identification, project formulation, project appraisal, counseling and guiding entrepreneurs. Mr. Patil started the session with a discussion on how to find business opportunities. He discussed different factors that create business opportunities which are: Entrepreneur’s background and knowledge, location of the business, availabilities of raw materials, Market Potentials, Technology / Equipments, Infrastructures, Govt. Policies, Skilled Manpower, Pollution Control Law etc.

Next Mr. Patil discussed some case studies of business opportunities in various countries like Bhutan, Netherland, and Africa. Mr. Patil continued the session with a discussion on how to select appropriate business. He said that an opportunity should be supported with enough information to generate the idea.

The second session on “Promoting Science and Technology Entrepreneurship: Role of EDI / DST” was conducted by Mr. S. B. Sareen. He emphasized on the various training programs proposed by DST through EDI that can enhance skills of technical and science students. He highlighted five programs funded by DST for the science and technical institutions in India and discussed each program in details. Mr. Sareen encouraged the participants to conduct such program in their respective organizations with the support of EDII. He also focused on some recent schemes for projects funding by DST through EDII.

Day - 5 (23rd December 2016)

Day - 5 started with the recap session of day - 4. Prof. Dr. Sunil Shukla then deliberated on “Entry Barriers & Curriculum Development” where he described types of barriers an entrepreneur faces. He stated that being an entrepreneur one has to face all these barriers and overcome them. Finally he stressed on the fact that to reduce the barriers the curriculum should give more space for identifying business opportunities that other factors.

The next session was conducted by Mr. Amit K. Dwivedi who talked about teaching entrepreneurship. He discoursed the pedagogical models and ecosystems for entrepreneurship and discussed different types of learning approaches, like deductive and inductive. He highlighted Berkely Method of Teaching Entrepreneurship.

The next session was conducted by Mr. Kirti Sanghvi who discussed “Banking for Entrepreneur”. He discussed the policies and strategies of MSME and banking support for lending funds to the entrepreneurs. He gave important information about reduction, concession, vat concession and many useful schemes that an entrepreneur can utilize to maximize his profit.

Day - 6 (24th December 2016):

The day started with the recap of the previous sessions. Later, Mr. Chandan Chatterjee, Advisor (Projects and Data Bank), iNDEXTb conducted a session on “Emerging Business Opportunity and Policy Measure”. He said that the Indian Labs hold a wealth of untapped innovations. He highlighted various policies of the Govt. for funding in start - ups but at the same time he gave importance in the innovation in the business idea.

The participants were then taken for a visit to Kamakshi Flexi prints Pvt. Ltd. The Director, Mr. Narendra Dhupar shared his experience in establishing his business. He discussed about the business opportunity, growth, competition, ROI and many other factors in relation to his company.

Day - 7 (26th December 2016)

The first session started with the recap of the previous day. Later, Dr. Kaushal Kishore, Faculty of Pandit Deendayal Petroleum University and a budding researcher in the field of oil and gas, shared his research experiences with the participants and discussed the procedure for research. He explained the scope of entrepreneurship in the emerging field of oil and gas. During his session he shared many important information regarding the petroleum business in India.

Next session was conducted by Dr. J. B. Patel on the topic “Business Plan preparation - Technical analysis”. He highlighted the importance of technical analysis of a project and how extensive it can be. He defined a number of factors related to the technical analysis of a project which are product design, scale of production, raw materials, technology cost, and long term trends etc.

Day - 8 (27th December 2016):

The day started with the recap session of the previous day. Later, Mr. Mayank Upadhyay, Specialist in the areas of Finance & Management conducted a session on “Financial Analysis & Methodology to Assess the Feasibility”. Mr. Upadhyay highlighted the core of technical and market analysis.

The last session of the day on “Negotiation Skill” was conducted by Mr. R. K. Chopra, Trainer from All India Management Association, Ahmedabad. He taught how to communicate positively and discussed different aspects of negotiation skills. Mr. Chopra stated five WHs of negotiations.

Day - 9 (28th December 2016)

The day started with the recap session of the previous day post which a session on “Financial Analysis & Methodology to Assess the Feasibility” was conducted by Mr. Mayank Upadhyay. He discussed the methodology to analyze the financial feasibility of a project. He explained two very important parameters which are Net Profit Value (NPV) and Internal Rate of Return (IRR).

Participants were later taken for a visit to Incubation Center, MICA, Ahmadabad. Mr. U.T.Rao, the incubator of MICA, conducted a session and explained the functionality of Incubation Center He also shared his experience in promoting start-ups through incubation at MICA.

Day - 10 (29th December 2016)

The day started with the recap session of the previous day. Mr. Umesh Menon, Sr. Visiting Faculty, EDII then conducted a session on “Strategic Business Planning for Start - up and Growth”. He highlighted the need for planning on growth. Mr. Menon described different phases for project development and stages of feasibility study of a project.

Day - 11 (30th December 2016)

During the first session of the last day of FDP participants were required to give a presentation on “Curriculum and Action Plan”. Each presentation was followed by the Q & A session between the presenter and the audience.

Valedictory Session was held after lunch. Dr. Sunil Sukla complemented the participants for the effort and interest they put in the FDP. Certificates were awarded to the participants. The session ended with the photo session of all the FDP participants and speakers.