Teamâ€™s address An individual is judged by how successful he is. But what is success? For some it is recognition in society, for others it is attaining financial independence and power. But there is a league of people for whom success is about evolution. They stop at nothing, are never satisfied and constantly look to improve. These are the people who look to create the jobs everyone wants. These people are entrepreneurs. Entrepreneurs have a clear vision. They find opportunities amidst rubble, are capable of creating value, fuelling growth and overcome barriers with ease. These are the thinkers, the innovators, the doers who change society for the better and envision a better tomorrow. Committing our efforts to enable these doers to efficiently traverse their road to enterprise, equipping them with the necessary tools at every step of their journey, and creating a greater number of such entrepreneurs and enterprises, we at the Entrepreneurship Cell, welcome you! Team E-Cell IIT Bombay
Director’s address Prof. Devang Khakhar
Innovation and enterprising are the wheels that steer the world into a brighter future. The world economy will tumble upon itself if new innovations are not reaped every day. Great ideas result into great undertakings which pave the way for glaring success. It is easier said than done because the process of realizing an idea needs a deep understanding of the world around, and an innate preparedness to cope with failures - an inevitable part of enterprising. The Entrepreneurship Cell, IIT Bombay prepares students to face the vagaries of the ever changing weather of the economic world. As engineers, it is expected of them to be the architects of the society. This calls for imbibing great business ideals and acumen to deal with the challenges that innovation comes with. E-cell, IIT B has brought a sea of change amongst the students. We have witnessed an overwhelming number of ‘startup’ companies by the students and alumni of the institute functioning inside and outside the campus. The future belongs to those who believe in the beauty of their dreams. E-Cell is the living embodiment of this dictum.
Faculty advisor’s address Prof. C Amarnath
Robert H. Schuller once observed ‘Never underestimate the power of an idea. Every positive idea has within it potential for success if it is properly managed’. IIT Bombay has been a factory of path breaking ideas in the country. An engineer is expected not only to be a ‘thinker’ but also a ‘doer’. The idea of giving life to innovative ideas lies at the heart of entrepreneurship. India has made its presence felt on the global economy. The world expects a great deal from the future generations of India. Thereby, it is of paramount importance that our students learn to innovate, to push the envelope of technology and to utilize the existing infrastructural framework to create better results. The Entrepreneurship Cell, IIT Bombay is serving the purpose. The E-Cell was founded with a vision to draw students’ attention to the world of entrepreneurship. The institute has produced many entrepreneurs that are now serving the nation, and have set a benchmark in their fields, Ashank Desai (Mastek), Vardan Kabra (Fountainhead school) to name a few. E-cell, through its activities and events arouses an urge in the students to innovate in their own space and to scale newer heights.
Prof. Urjit A. Yajnik
The reasonable man adapts himself to the world; The unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man. -George Bernard Shaw What Shaw said a century back is equally relevant in the present times, if not more. The societal inertia very often pulls back a man from realizing his true self. A very small number of the hoi polloi dare to dream beyond the â€˜horizon of possibilityâ€™, the rest succumb to selling soap. E-Cell, IIT Bombay caters to the former category of people. Setting high dreams and basking in their glory is not enough to drive changes that you want to see. A planned and intensive action course is the most important requisite for the dreamers to materialize their goals. The E-cell guides the students of IIT Bombay to plan and mould their futures the way they dream. Developing entrepreneurial and leadership skills amongst the engineers will transform them into micro managers of their careers, also it will impart them with a profound knowledge in the world of business and finance. I must admit that E-Cell has changed the topography of the institute for the better. I wish that E-Cell continues to ignite the minds of students and light the path for a better future.
We, at the Entrepreneurship Cell [E-Cell] of IIT Bombay believe that it is important to create an atmosphere in which young students and professionals are not afraid to venture into the market on their own, thereby generating a vibrant and dynamic community of entrepreneurs on campus and across India. With this belief E-Cell, IIT Bombay targets to help in the development of the entrepreneurial ecosystem by enabling easy and efficient interaction between its major components spanning students, working professionals, aspiring and established entrepreneurs, mentors and investors. In order to achieve the vision of promoting entrepreneurship as a career option among the youth, E-Cell has conceptualized activities and initiatives for the average college students as well as experienced young entrepreneurs and working professionals. The events are aimed at spreading awareness about various stages in the journey of an entrepreneur, from the very first step of conceiving an idea till the successful establishment of an enterprise. The Cell has forayed into various activities this year which include : The Entrepreneurship and Business Club: A new initiative that aims to foster the spirit of entrepreneurship amongst the students of IIT Bombay. Speaker sessions, Workshops, Informal events, Business games and Competitions - all under one umbrella of the E&B Club. Eureka!: Eureka!, our Annual Business plan competition is the largest in Asia and receives great participation every year. Eureka! 2011 received over 3600 entries from across India and abroad. The Entrepreneurship Summit: A networking platform for students, entrepreneurs, venture capitalists, investors, working professionals, academicians and technocrats, to accentuate interaction and initiate constructive discussion about entrepreneurship and business among them EnSpace: The media of E-Cell, published as a regular magazine and enjoys huge readership in the institute.
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Achievements Eureka! 2011 E-Summit 2012 Pitch It! Entrepreneurship and Business Club Enspace Deferred Placement Program TEDxIITB Associations Start-ups at IIT Bombay Media Coverage Sponsors & Partners Team
1998 1999 2000 2001 2002 2004 2005 2008 2009 2010 2011 The Entrepreneurship Cell is born as a part of a career management centre (CMC) for IIT Bombay in October 1998. In the proposal for CMC, the purpose of such a cell would be to “promote entrepreneurship as a career option for students” and to “assist any product or venture” initiated by them with the help of the Incubation Center and School of Management. Prafulla Krishna, Vikas Jain, Amol Parkhe, Maninder Gulati, Sameer Shetty, Rahul Gupta and Abhishek Mishra: the first team. Emotions, aspirations and ambitions. Work begins.
Right half, the first campus startup of IIT Bombay and of any engineering institute in India. Kashyap Deorah, B.Tech., Computer Science and Engineering, Batch of 2000, along with the two IIT batch mates, started the company while in their final year.
Business incubator SINE inaugurated by Nandan Nilekani, CEO, Infosys and Mr. Kanwal Rekhi, venture capitalist and Director, TiE, jump starts with 8 startups incubated already.
Eureka!- E-cell’s B-Plan competition recognized as ‘Asia’s largest business plan competition’ by CNN.
The Wadhwani Foundation initiates the creation of National Entrepreneurship Network (NEN). E-Cell IIT Bombay Eureka! Offers selected as one of Incubation at Silicon the five founding Valley. members.
ACHIEVEMENTS The Entrepreneurship Cell IIT Bombay
Vulture’s Nest, India’s first funding reality E-Cell recognized show gets aired on E-Cell, IIT Bombay as the Leading national television. represents India and Entrepreneurship Dhama apparels, a THOMSON REUTERS the Indian subPromoting Student team that pitched in declares Eureka! as continent at the Organization in the the Investor’s pitch in “Asia’s Largest Business country by the ‘’NEN ‘`Global Conference of E-Summit 2008 gets Plan Competition”. Achievement Awards’” E-Cells’ organized by funded through the 1985 batch of IIT-B MIT at Madrid, Spain in same investors they decides to support and felicitated at April 2008. TiECon 2005. pitched to. Eureka!.
E-Cell officially collaborated with E-Bootcamp organized by BASES (Business Association of Stanford Entrepreneurial Students), Stanford University for Eureka! ; Process of implementing the Deferred Placement Program was initiated
Establishing oneâ€™s own start-up is a time-consuming process and the fundamental business idea needs to be carefully moulded and nurtured before it evolves into a successful start-up. We take this into consideration and therefore, rather than restricting Eureka! to a format where people enter the competition with their B-plans, trying to clinch the top spot and exit with their prize money as winners of the competition, we have a different format where the competition goes on for months -from September till February and during this period they receive intensive as well as extensive mentoring which enables them to refine their B-plan during the course of the competition.
New Additions in Eureka! 2011
Eureka! is an international Business plan competition organized by the Entrepreneurship Cell of IIT Bombay. With a total prize money of USD 52,000, it is Asiaâ€™s largest B-plan competition and second largest in the world in terms of participation, resources and prize money. Over the years, Eureka!â€™s unique format which includes one-to-one mentoring and a transparent judging process has become a model for similar competitions held in India and elsewhere.
Eureka! Social With a vision to promote social entrepreneurship among people and to encourage development of innovative technologies and ideas that add value to people at the bottom of the pyramid (BoPs) and/or the environment, this year, a new dimension was added to Eureka!- Eureka! Social. The initiative has been extensively supported by global social organisations such as UnLtd India, Villgro, Grameen Creative Lab and the Dell Social Innovation Competition. It ran as a parallel competition, with the entries being submitted, mentored and evaluated separately. The main motivation behind a separate track was that with the overall growth of society and growing enthusiasm about social development, the future looks green for social start-ups. At the same time, social plans are not normally that attractive from a competition point of view when judged on the same platform as business plans. Thus, keeping in mind the welfare of the society, this step was thought of and put into action. With over 1350 registrations, Eureka! Social has been a great success in its first year itself!
BASES and Dell Social Innovation Competition The winner of Eureka! from Business and Social Category, Winner of Best IIT Bombay Entry Award and either of Eureka! second or the Winner of Technology and Sustainable Development Prize, will get a direct entry to finals of E-Bootcamp organized by BASES (Business Association of Stanford Entrepreneurial Students), Stanford University. The top 3 winners of Eureka! Social will automatically advance into the DSIC semi-final round, organized jointly by the University of Texas at Austin and Dell. Eureka! workshops across India In order to spread awareness about the intricacies of writing a B-Plan and also Eureka! as a competititon 15 B-Plan making workshops were conducted throughout India in association with Nurture Talent Academy. The workshops received overwhelming response with over 2000 people attending them.
Eureka! was declared as Asia’s largest B-plan competition by CNN in 2001. Once again in 2010, Thomson Reuters, world reputed news agency, after investigating and analyzing various business plan competitions and their statistics, declared Eureka! as “Asia’s Largest Business Plan Competition in terms participation, prize money and resources ”.
After receiving B-Plan entries from thousands of participants, each entry was scrutinised by multiple judges. On the basis of the normalised scores, the top 50 (Eureka!) and top 16 (Eureka! Social) teams were shortlisted and were assigned mentors from whom they sought advice. Taking the mentoring process one step further, a workshop as well as a meeting with a panel of distinguished mentors consisting of investors, venture capitalists and experts in various fields of industry was held on 9th and 10th December 2011. The first day of the meet consisted of the ‘Start-Up Pathshala’ - a skill development workshop for Eureka! 2011 semi-finalists (top 50). The workshop was highly interactive, with the participants coming up with their own business related issues for discussion. The workshop majorly covered the following topics: • Finance for Entrepreneurs • Marketing for Entrepreneurs • Business Plan for Entrepreneurs • Pitching business plan before an investor The second day witnessed the Mentor’s Meet. The teams met their mentors who would guide them in refining their business model. During this meet, the teams had the
opportunity to interact and network with leading industry professionals. Of the semi-finalists, numerous entries were from Bangalore, Mumbai, Pilani and Delhi. There were also some international entries from places like New York (USA), Rugby (Warwickshire, England), Boston (Massachusetts, USA), Manila (Philippines) and Dhaka (Bangladesh), which proves the fact that the competition has definitely made its presence felt globally! There were representatives from organisations like Mentor Edge, TiE, IAN (Indian Angel Network), Springboard Venture etc. amongst the 50+ mentors who were at the IIT Bombay campus on 10th December. All of them were involved in a one-to-one intensive discussion session with the semi-finalists, directly interacting with them and answering queries on their Business Plans. Some names from of the mentors’ panel of Eureka! at the Mentors’ Meet session include:• Mr. Satish Kataria: MD, Springboard Ventures Private Limited • Mr. Hemant Nerurkar: MD, MindCraft Software Pvt. Ltd. • Mr. Vaibhav Arya: CTO, Media.net & Skenzo (Directi) • Mr. Kanakasabapathy Pandyan: CEO, CipherSpace, LLC • Mr. Nitin Parab: CEO, Amore Crosslink Inc (P) Ltd • Mr. Indranil Bed: Principal, Mobius Strip Capital Advisors • Mr. Vijay Sampath: CEO, ACK Media • Mrs. Poyni Bhatt: Chief Administrative Officer, SINE • Mr. Pranav Bhuta: Investment Professional, Guggenheim Partners (Asia) • Mr. Abhijeet Kumar: Founding partner, Ah! Ventures
A total prize money of INR 24,00,000 (USD 52,000) was on offer for the winners of Eureka! 2011. The prize money for the top team was a whopping INR 5,00,000. IIT Bombay Class of 1985 decided to support Eureka! 2011 by awarding cash prizes in some special categories – INR 3 lakhs to the best entry in the sector of Technology and Sustainable Development and INR 75,000 to the best entry from IIT Bombay. The top 10 teams of Eureka! shall also be considered for the ‘Inception’ program run by Flamingo Ventures which provides start-up investment. The teams will be provided with mentoring, seed funding and incubation opportunities if selected. Winners of Eureka! 2011 will be given direct entry into Next Big Idea’s ‘Champion of Champions’ competition, which is the Indian leg of the Intel-UC Berkeley Innovation Challenge. Winners of the competition will get sponsored by Intel for the Intel-UC Berkeley Innovation Challenge. Angel Funding: Eureka! finalists will receive a chance to pitch their plan in front of a panel of Angel Investors and Venture Capitalists from organisations like: Banking 54 • Indian Angel Investors Biotech 68 • Inventus Capitals Cleantech 149 • Sidbi Ventures Entertainment 101 • Gaja Capital Consultancy 108 • Cannan Partners IT 284 • Navam Capital Manufacturing 230 • Seedfund Others • Nurture talent Academy 88 Power This pitch to the venture capitalists, normally involves a several months long process Retail where only 3-4 plans are selected out of numerous applications every 210 month. Through Service Eureka!, teams will get a direct entry to this pitch. Telecommunications Web Portals
Statistics of Eureka! 2011: Banking
Entertainment 1 IT Manufacturing
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Sector-wise statistics of Eureka! Top 50
Web Portal 1
1st Round Statistics: Total no. of Registrations in Eureka! 2011 : 3623
Entertainment 1 IT Manufacturing
5 2 25
Others Retail Service
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A few start-ups through Eureka! over the years: Winners of Eureka! 2010 In the 12th edition of its existence, Eureka! grew from providing total prize money of 2 lakhs in 2001 to 21 Lakhs in 2010. For the first time, top 50 shortlisted teams were provided with free financial and legal consultancy by firms like Sand Hill Counsel, Nishith Desai Associates and India Nivesh. Eureka! - Asia’s largest B-Plan competition which has been successful in spurning out successful ventures for past 10 years resulted in 4 more winners in 2010. The first prize was bagged by a company called “No Paper Forms”. They had developed an advanced user-driven admission automation engine to help educators receive admission applications online, as opposed to conventional paper forms. Academicians can start receiving applications electronically in as little as 15 minutes without writing a single line of code. The idea was proposed by a set of professionals all of who had a prior work experience with different firms. The second place was secured by ArrayShield Technologies Private Limited, a software product company working on innovative security solutions. The vision of ArrayShield is to emerge as the Global Thought Leader in the field of Information Security. Its mission is to provide highly secure, low cost and easy to use security solutions, globally. ArrayShield’s flagship product is in the area of Two Factor Authentication. The company’s patent pending product is backed by extensive research from IITM, India. The third prize was clinched by Fermentech Biologics, also known as NutriBrain. NutriBran intends to develop, patent, manufacture and market novel low cost feeds, feed supplements and feed solutions to niche markets in dairy, poultry and aquaculture sectors. There was also a special category, ‘The Technology and Sustainable Development Award’ supported by the 1985 Alumni Batch of IIT Bombay. This award was bagged by Nessa. Nessa is a systems integrator in the energy efficient lighting business, providing a range of products like Solar LED streetlights, 220V LED streetlights and Solar Power Packs. With a focus on LEDs, thin-Films and optimal design techniques, Nessa has been able to develop products which are highly reliable and elegant. It’s products have an immediate 2x-3x cost advantage over conventional solar products of comparable quality and performance, with payback periods now in the more reasonable durations of 2-4 years. While these advantages are immediate, Nessa has a very clear strategy for further price reductions through technology alliances at which point the demand will be insatiable.
eInfinitus Technologies (Winners, 2001) It is a research oriented routing technology venture founded by alumnus of the Department of Computer Science and Engineering at IIT Bombay, India. eInfinitus Technologies is involved in developing path-breaking technologies for routing in packetbased, optical and wireless networks. It received INR 1.5 crores in their first round of funding from Sicom Ventures and was later sold off to Cisco Systems in a deal reported to be in the range of a whopping INR 250 Crores. Gama Entertainment Systems (Winners, 2007) They have had three very successful products. -Mymage: A very novel photo booth product in partnership with Sega, Japan as well as licenses from Disney & UTV - High 5: First ever machine to combine Prize Vending & Ticket Redemption - Cricket 20-20: India’s first 20-20 gaming machine. Their products are manufactured & tested at multiple locations in Mumbai. The company is looking to scale up now and has successfully secured a second round of funding. Theranova (Winners, 2002) Located in Redwood City, Theranova is a medical device development company which develops solutions for large markets with unmet needs. Whizlabs Software Pvt. Ltd. (Winner 2003) Provides online tutorials in Sun Microsystems’ Java platform. Specific courses are offered into different specialisations like application development, software project management and server management. Makesense They build products leveraging the expertise in artificial intelligence & automated communication. The Product, ‘The Smart Recruiter’, is a first of its kind platform with the ability to interact with clients and candidates as a recruiter would; connecting them and providing them an efficient intermediary to organize and expedite the Recruitment Process. Their simple yet powerful idea is - Innovation is the Solution! Their strength lies in solving real-life customer problems through innovative application of technology, to ensure that the customers are always ahead of their competition. They use technology to draw up new business models, reduce time-to-market, improve efficiency and reduce cost.
E-Summit 2012 Invention is the talent of youth, as judgment of age.
The above words spoken three centuries ago are equally relevant today, if not more. The path that the world will take rests largely on the able shoulders of the youth. Innovation is the new language; enterprising the new profession. Necessity is no longer the mother of invention. Efficiency is. Comfort is. To herald a new era of innovation, we need leaders who can transform the face of the planet to build a future, utopian to the present. The existing, stubborn mindsets will have to be broken and replaced with a wave of pragmatism. With this vision in mind, E-Cell conceptualized E-Summit 2012 revolving around the theme of ‘Changing mindsets, Creating leaders’ to drive the necessary changes and infuse today’s youth with the ideology of technological renaissance. E-Summit will aim to energize today’s youth with ideas of revolution and arm them with the ideals of innovation so they can steer mankind towards a better tomorrow.
E-Summit Reach Out The Entrepreneurship Summit is an initiative by E-Cell, IIT Bombay to serve as a platform for bringing together budding entrepreneurs, venture capitalists, investors, start-ups and other major contributors to the entrepreneurial ecosystem. This networking event gives a chance for people to interact and help build successful ventures.
In the run up to the E-Summit, a need was felt to popularize the event and to inject the ideology of entrepreneurship deep into the youth of Mumbai. With the coordination of College Representatives (CRs) in different colleges within Mumbai, a decision was reached to organize entrepreneurial activities in these colleges in the run-up to E-Summit 2012. This new development was met with great enthusiasm and appreciation by everyone involved. These ‘pre-events’ were organized two weeks prior to the final event on 28th29th January. The vision, as mentioned before, is to expand the umbrella of E-Summit and to spread awareness about enterprising in general, and E-Summit in particular. Pre-events witnessed the organization of Stock Market workshops and talks on topics related to entrepreneurship in over ten partner colleges.
E-Summit 2012: Day 1
Virtual Stock Market E-Cell strongly believes in the idea of learning by doing. As an initiative in this direction, E-Summit conducts Virtual Stock Market – a game that simulates the stock market - to create an environment of friendly competition that will enable future entrepreneurs to understand how the economy at large can affect individual companies. The major change in VSM this year was that it was taken out of the IIT Bombay campus for the first time hence reaching out to students on a national scale. Over 10,000 students from across India participated in the online game. Pehal Keeping in sync with the special focus on social entrepreneurship throughout 2011-12 E-Cell launched ‘Pehal’. The competition consisted of participants submitting their ideas targeted at specific social issues faced by the Indian society like drug abuse, corruption and education. The winner is to be selected from the shortlisted entries on the basis of popular voting on social networking site Facebook. Incept Case Study Incept is a startup by IIT Bombay and E-Cell alumnus Mr. Ashwin Srivastava in the biometric solutions space. The case study competition was organized by E-Cell in partnership with Incept. Participants were given basic data about Incept as a startup and were asked to create a marketing campaign for the same. Top entries will be handsomely rewarded with Apple’s iPad’s and Samsung Galaxy mobile phones.
Vision The first day of E-Summit 2012 has been conceptualized with the objective of introducing students to entrepreneurship in a fun and informal environment through multiple on the spot competitions, games and hands-on workshops by international experts. A wide variety of sessions have been scheduled to train students in multiple business functions like Product Development, Finance, Marketing and Operations. The Summit will also be interspersed with highly insightful talks by various eminent personalities from unconventional areas of business like sports and entertainment. Ignite Ignite is a global event, organized by volunteers, where participants are given five minutes to speak about their ideas and personal or professional passions, accompanied by 20 slides. Each slide is displayed for 15 seconds, and slides are automatically advanced. With the motto of ‘Enlighten us, but make it quick’ the presentations are meant to “ignite” the audience on a subject, i.e. to generate awareness and to stimulate thought and action on the subjects presented. Ignite talks have been held in over 100 cities across the world. A similar talk will be held as a part of E-Summit where innovative ideas will be presented by invited entrepreneurs. IdeaStorm IdeaStorm is an initiative that was started by a group of students at MIT Sloan Entrepreneurship Club. It began as a regular discussion over a couple of drinks and eventually evolved into a formal event. This fast paced, lightly moderated brainstorming event has been adapted for E-Summit. Participants are divided into teams of 4-6 and have to work through two rounds of brainstorming and problem solving. The competition comprises of two stages, the first involves solving a general daily life problem while the second deals with troubleshooting a specific problem of some start-up. The start-up then decides the best solution and awards accordingly. Nokia ADventures Advertising has become an inseparable part of business which companies use to interact with the populous. It is a medium where creativity, glamour and business meet. Through ADventures, we gauge the participant’s potential to sell a given product. The participants will get an opportunity to devise their own marketing strategy for the products they choose. The focus will be on creativity and business acumen. This will be followed by presentations by the top three entries. 23
Business Simulation Game To give students a hands on experience about the working of real businesses, the very popular Business Simulation Game is being organized that will allow participants to manage a virtual business. This game will test the knowledge and decision making skills of the students in the areas of Finance, Marketing, Operations and R&D. It will be conducted in association with iInteract Learning Solutions. The game will not only will be a unique learning experience but also will unravel the challenges involved in leading a real world company. Idea Generation and Opportunity Evaluation Workshop The Entrepreneurship Summit will also hold a brainstorming workshop which will be conducted by Mr. Raj Bhat, Chief Mentor at National Entrepreneurship Network (NEN). The workshop will equip participants with the ability to generate extra-ordinary ideas from ordinary daily life situations that one encounters. The session will be followed by an Opportunity Evaluation Session where start-up ideas will be discussed at length. Biz Quiz Being aware of the major changes in the business environment is vital for an entrepreneur to survive difficult and challenging times. To test the awareness of students about the Indian business environment and the world economy in general we will be organising a business quiz at E-Summit. The event would be hosted by Mr. Arnav Sinha. The quiz will be divided into two rounds. Round 1 will be a preliminary round, from which five best teams will be selected for the final round which will decide the winner.
E-Summit 2012: Day 2 Vision An ounce of action is worth a ton of theory. On day 2 of the E-Summit, we speed our wheels and tread rigorously the lanes of entrepreneurship. Day 2 will be packed with interactive sessions by the who’s who of the entrepreneurial world, enlightening workshops, and a host of mentoring and networking opportunities. Day 2 will also mark the culmination of ‘Eureka!’ and ‘Pitch It!’. With the theme of ‘Changing mindsets, creating leaders’, we make a giant stride to lead you an inch closer to your dream of having a venture of your own. Business Mentoring Hub This is a platform for those nascent, unfurnished ideas which need expert analysis and fine-tuning. Top teams will be selected from over 100 applicants on the basis of practicality and applicability of their ideas. Selected teams will be given a chance to receive mentoring and advice from a panel of experts hailing from varied business functions. Business Mentoring Hub is a medium to help aspiring entrepreneurs eliminate possible loopholes in their business plans. Networking Arena Networking is one of the most crucial capabilities that an entrepreneur requires. Being connected to the right people can sometimes make the difference between a successful and a failed venture. In order to enable high quality networking at E-Summit we structured the Networking Arena wherein a panel of experts discuss the latest developments, opportunities and challenges in a given sector, followed by a networking session during which the attendees can interact with the speakers or amongst each other. As the arenas are focused on specific sectors it enables connections between people with common interests. The sectors of focus for these arenas during E-Summit 2012 will be: Cleantech and Energy, Cloud Services, Banking and Finance, E-Retail. Workshops Multiple hands-on workshops have been scheduled for E-Summit to help aspiring entrepreneurs learn by doing. These workshops will be taken by international experts like: Jim Beach, Founder & Instructor, School for Startups, USA (www.schoolforstartups.com/ ) Christian De Neef, Owner/Consultant, Fast Track Consulting, Belgium(www.fasttrack.be/ ) Saji Abraham, Vice President, Lowe Lintas (www.lowelintas.in/ )
An Overview of E-Summit 2011 Speakers The Speakers who will be at E-Summit 2012 include: • Mr. VSS Mani, Founder & Managing Director of A&M Communications and Just Dial • Mr. Haresh Chawla, ex-CEO Network 18 • Mr. Bharat Banka, CEO, Aditya Birla Private Equity • Mr. Sanjay Kamlani, Co-Founder and Co-CEO of Pangea3 • Mr. R. Sriram, Entrepreneur, Consultant, Mentor • Mr. Jim Beach, Co-Founder and Executive Director, International Entrepreneurship • Mr. Rehan Yar Khan, Founder, Flora2000.com • Mr. Gaurav Gupta, Regional Director, Dalberg (Asia) • Mr. Christian De Neef, Founding Partner, RomAdvice
E-Summit in the Past
Some of the eminent guests who have been at the E-Summit in the past are: • Mr. Nandan Nilekani, CEO of Infosys • Mr. Ajit Ranade, Group Chief Economist, Aditya Birla Group • Mr. Tulsi Tanti, Chairman and Managing Director, Suzlon Energy • Mr. Sam Pitroda, Chairman, National Innovation Council • Mr. Ronnie Screwvala, CEO and Founder Chairman, UTV Group • Mr. Subhash Chandra, Chairman and MD of Zee Telefilms Ltd. • Mr. Kishore Biyani, M.D. of Pantaloon Retail Ltd. [India] and CEO of Future Group. • Mr. Ajit Balakrishnan, CEO of Rediff.com • Mr. Adi Godrej, Chairman of Godrej Group • Mr. S. Ramadorai, CEO of Tata Consultancy Services • Mr. Rajesh Sawhney, President at Reliance Entertainment Limited • Mr. Dilip Chhabria, Founder, DC Design • Mrs. Kiran Majumdar Shaw, Chairman of Biocon India Ltd. • Mr. R. K .Mishra, Winner of Lead India Campaign
iWeekend With a vision to bring together talented entrepreneurs and professionals and help them conceptualize their innovative ideas under one roof, E-Cell, IIT Bombay partnered with iWeekend to conduct an iWeekend Mumbai event. The program was mainly targeted at technologists, designers, marketers, business folks and lawyers with a passion for technology and the intention of founding or working in a start-up. The entire process of creating and validating a business idea, formation of a team, creation of a business plan, a prototype and the methodology to take the ideas forward from and make them into real startups were given a jump-start during the 3-day iWeekend experience. NSEF NSEF Idea Conference was an event to catalyze social entrepreneurship amongst the youth and initiate social innovation and entrepreneurship. Ms. Shaheen Mistri, Founder and CEO, Akansha Foundation and Ms. Neera Nundy, Managing Partner, Dasra graced the occasion with their presence. The platform attracted attendees from a vast domain including students, working professionals and people involved in human resource development. Business Modelling Workshop In line with the vision to provide access to world class entrepreneurship resources, a workshop on Business Modelling was taken by Mr. Philippe De Ridder, Founder, Board of Innovation (Belgium). Supported by his wide experience as a Business Model Innovator and Consultant, Philippe, took a highly interactive workshop that was both exciting and educating. The Workshop was a huge success with more than 300 participants attending it.Apart from the above, multiple other events like the Business Mentoring Hub, Networking Arena, Panel Discussions and Speaker sessions were also part of E-Summit 2011.
Start-Up Expo 2012 Witness some of the most promising start-ups showcasing their cool product/ideas!
Gridbots is a technology and innovation company from India that work in the field of Robotics with a vision to make robotics a part of one’s day to day life. Their client list includes the names of organizations like Ministry of Home Affairs, National Institute of Design, Indian Navy, Bhabha Atomic Research Center , ONGC ,NTPC ,ISRO etc.
Freecharge.in is a business unit of Accelyst Solutions Pvt. Ltd which enables the user to recharge his/her mobile phone and make it free by providing discount coupons of top Indian food joints and retailers, equivalent to the recharge amount. Their core focus is to create innovative channels which can deliver value for money to the Indian consumers.
Sensibol Audio Technologies
Sensibol Audio Technologies Pvt. Ltd. provides technological solutions for audio content analysis, evaluation, search and retrieval with the objective of improving and enhancing the interactive consumer audio experience. They deliver solutions that address the growing demand for digital audio content and interactive entertainment across the internet and mobile domains.
Olacabs is car rental company, based in Mumbai. They aim at using technology to bring the same efficiency and customer experience to the car rental industry that you expect from flights. One can order cabs on olacabs.com and also see a list of results and prices of different available cars from different operators.
Rasilant Technologies is a Global Automation Solutions and System Integration Services company catering to the growing demand for world-class automation technologies. Having built a reputation of research and integrated approach to technology, Rasilant has been providing innovative RFID based solutions to various sectors such as industrial, government, healthcare, hospitality and education.
Telelabs creates innovative mobile apps for a number of clients in health solutions, education, jobs and weather information, and test wireless products for OEMs from China and South Korea. They are the first in India to emulate wireless networks to be used for training fresh engineering graduates.
By making the students develop minor working project models of electronic gadgets around us, Tech Tots aims to make the budding generation understand the actual principles underlying the structure of these gadgets. In a world that is engrossed in enjoying the utility and fun element of these gadgets, they believe that they can inculcate a spirit of wonder among the youth which will help them to learn more and become pioneers in technological innovation.
ikube technologies has grown to a full solution company, where, they design robots, make android applications, solve cyber problems, build software and harvest solar energy with their wide range of solar installations. Above all, they proudly provide training to students in the fields of robotics, ethical hacking, rocket designing, medical electronics, android apps, etc. with the help of their workshops and training courses.
SimpliBuy Technologies is a company involved in creation of hyperlocal price information system. The product does to price discovery what twitter and digg have done to content search. Filtering mechanism built in their applications will help find right signals made by deluge of noises made by multiple sellers (both online and offline). It also provides technology and management consultancy to other organizations in areas of Project/ Business and web strategies.
Rhapsody Labs’s inception begins with the idea of taking computer vision research from the academia to the end user. Rhapsody labs aims at bringing ‘Applied Research’ by capacity building through participation from academia, tech companies in all areas of engagement and fostering world class environment for innovation and creativity. At present, their main thrust area is the effective usage of augmented reality in Retail and fashion sector.
Judges Some of the notable investors who have been a part of Pitch It! In the past are: • Mr. Vishal Gondal, Founder, Indiagames.com • Mr. Manoj Gupta, Principal, Nexus Venture Partners • Mr. Rajeev Mantri, Executive Director, Navam Capital • Mr. Gagan Kumar, Partner, Accel India • Mr. Mahesh Murthy, Managing Partner, Seedfund • Mr. Anil Joshi: VP, Mumbai Angel • Mr. Krishna Jha, Partner, Telnet Ventures • Mr. Indranil Deb, Principal, Mobius Strip Advisors • Mr. Satish Kataria, Managing Director, Springboard Ventures Private Limited
Previous Start-Ups in Pitch It! The previous version of ‘Pitch it!’(better known as Vulture’s Nests) proved to be a flourishing ground for many lifelong participant-mentor relationships which continue to function even now when the participants are successful entrepreneurs. Even though none of them bagged a direct investment from the investors on the spot, during the finales, all participants shared a common praise for the event, for it being well organized, and also for giving them confidence with their future endeavours. Some are still in touch with the investors and take timely guidance from them regarding their funding. The investors too are enthusiastic about the start-ups. Some notable start-ups from the last version are:
Pitch It!, previously known as Vulture’s Nest, is a unique initiative taken up by The Entrepreneurship Cell, IIT Bombay. It’s a platform for early stage start-ups to pitch their plans before a panel of eminent angel investors with the objective of raising funds. The best teams are selected after an exhaustive judging process and are given a chance to pitch before leading angel investors at The Entrepreneurship Summit.
Mr. Mandar Vaidya (Eki Communications): They raised $250,000 (Rs 1.12 crore) in their angel round from Blume Ventures and the Rajiv Dadlani Group, a consortium of angel investors. The company intends to utilize the funds for expanding its business, hiring people and bringing its product to more mobile platforms. Mr. Balaraju Kondaveeti (BodhBridge Educational Services Private Limited): The start-up succeeded in finding investors in the form of Mr. Murali Krishna Vanam. In Mr. Balaraju’s words, “We found the event a nice experience. It was really well organized.” Mr. Pavan (Array Shields Private Limited): Array Shields raised an investment of INR 50 lakhs through angel funding. Mr. Pavan, too, had kind words for the event, “Vulture’s Nest was a great help for us to gain confidence and to face investors.” 31
ENTREPRENEURSHIP AND BUSINESS CLUB
The Entrepreneurship and Business Club was started with a vision to give the complexperceived world of entrepreneurship an informal outlook amongst the students of the institute and to provide them a learning platform, brimming with innovation and fresh ideas. Long-term vision is to create a platform where students, faculty of the institute meet on a regular basis for discussions, brainstorming on fresh ideas, case studies on industry problems and learn in the process. A lot of expert and informal sessions were conducted throughout the year as a part of EnB Club and were received enthusiastically by the institute student community.
Session 1 – Basics of Entrepreneurship (by Nandini Vaidyanathan) The first ever session hosted by the EnB Club was an interactive talk by the famous author of Entrepedia, Nandini Vaidyanathan. The session witnessed an audience of over 400 students and professors who engaged in an hour long discussion on how to become an entrepreneur. Mrs. Vaidyanathan also shared her experiences in the field and gave the students valuable tips on character building and personality development that are indispensable for becoming a successful entrepreneur.
The Entrepreneurship and Business Club (EnB Club) is a community where innovative ideas are born and nurtured into successful business ventures. EnB Club seeks to take on the myriad challenges that the new economy is facing and translate them into opportunities that can be commercialized, and yet keeping it all simple, fun and engaging. In this way, EnB Club tries to inoculate people with the entrepreneurial virus.
Session 2 – Cloud Computing & Entrepreneurship (Werner Vogels, CTO, Amazon.com) This was the second interactive session hosted by the EnB Club this year. Dr. Werner Vogels, the Chief Technology Officer and Vice President of Amazon.com, met a strong crowd of 500 enthusiastic students to discuss and learn about the various opportunities available to engineers in the world of coding. Session 3 - TATA First Dot Workshop in association with NEN E-Cell partnered with TATA and National Entrepreneurship Network for an interactive workshop meant for existing companies and students considering ‘starting up’. The workshop aimed at imparting a profound understanding to participants about what attracts investors, how to make an effective business plan and choosing the right template for the business model.
Informal Sessions Session 1 Event 1 – Idea Generation Workshop This brainstorming event was a one-of-its-kind initiative by E-Cell which was held with a vision to create awareness among the students, the role of objects as insignificant as newspapers in the generation of innovative ideas. The participants were given a section of a newspaper to read and come up with a business idea. The problem statement caught everyone’s imagination and encouraged the participants to think in an unprecedented and unconventional manner. Event 2 – Case Studies The second session was all the more exciting, held with an aim to unravel the secrets of revenue generation of great IT giants like Facebook, Google, and Yahoo.
E-Cell organised a talk by Mr. Nishad Ramachandran, Managing Director of iContract on the basics of brands and marketing. The talk highlighted the importance of social media in effective and inexpensive marketing of a product.
Pitch It! was an Idea Validation and Mentoring platform for the students of IIT Bombay. This one of a kind event aimed at providing the students a chance to pitch their halfbaked ideas in front of the pioneers in Entrepreneurship. The ideas were validated and mentored by Expert Panel featuring alumni, successful entrepreneurs, investors and SINE. During the week following the validation sessions, ideas with potential were allotted an individual mentor who would guide them through a journey of an idea to a start-up. The best Pitch It! Entry got a chance to qualify for the semi-finals of Eureka! This significantly boosted their chances of winning the ‘Best IIT Bombay entry’ and also for an all-expense paid trip to E-Bootcamp including a trip to Silicon Valley, organised by BASES, Stanford University, California.
Business Simulation Game
This event aimed at gaining competitive edge in the real world by sharpening one’s business skills in the game world! Business Simulation game helped model the realities of the business world by simulating basic business theories and practices in controlled game environments. The game excelled in creating effective simulated models of the real business world that helped the players learn, grow, and achieve. It was conducted in association with iInteract Learning Solutions.
Enspace encourages readers to have a different perspective on their careers and it aims to instigate a desire for lateral thinking and to take initiative. It contains interviews with leading entrepreneurs and stories of successful entrepreneurial ventures. The team which writes Enspace has around eighty able writers who work towards making every issue of it an insightful experience.
The entrepreneurship magazine of IIT Bombayâ€“ Enspaceâ€“ was initiated as a newsletter in the year, 2008 with the vision of promoting the entrepreneurial spirit through print medium. It contains information about various events and news relevant to entrepreneurship and it also has an analytical discourse on topics relevant to entrepreneurship.
Enspace started off as a newsletter, and was converted into a magazine in the year 2009. Past issues of Enspace had interviews with leading entrepreneurs like Kiran Majumdar Shaw, Ajit Balakrishnan , Bhavin Turakhia, Dhruv Ghanekar,Kanwal Rekhi, Raghu Ram and many others sharing their insights, view and their struggles as entrepreneurs. Also there are case studies and news about entrepreneurial activities happening on campus. This year, team Enspace has tried to diversify into unorthodox fields of entrepreneurship such as music, dance, arts, photography, fashion, acting etc. The idea was to open up the minds of the students to follow their passion and to convince them that one could be successful at that as well. Focus was laid spreading awareness about the opportunities that are present in these fields and also the resources available to support those who choose to try. Enspace reaches out to the students of IIT Bombay as well as various colleges and corporates all across the nation.
DEFERRED TEDxIITB PLACEMENT PROGRAM
Deferred Placement Program
TED (Technology Entertainment and Design) is a global set of conferences owned by the private non-profit Sapling Foundation, formed to disseminate “ideas worth spreading”. Founded in 1984 as a one-off event it has gained considerable popularity over the years and is now known to offer a platform for the sharing of cutting edge ideas.
Deferred Placement Program The Deferred Placement Program is a unique policy being introduced by the Placement Cell of IIT Bombay with support from E-Cell and the academic council. It was envisioned to provide a helping hand to aspiring entrepreneurs on campus by providing them with a fall back option if their venture fails. Conventionally, a student sits for placements in his/her final year. Under DPP a final year student is given the choice of skipping placements and starting-up instead. The student can work on his venture for a period of one and a half years after graduation and if his fails during this period, he is offered the choice to come back to campus and register for the placement process along with his juniors. E-Cell has played a major role in the introduction and structuring of this program. Presently it is involved in the creation of a panel of mentors who will validate and mentor genuine attempts to startup under this program.
True to its motto, ‘Ideas worth spreading’, TED instituted TEDx, a program of local, selforganized events that bring people together to share a TED-like experience. TEDx events look up to TED conferences for inspiration and implementation but these events are organized independently. One such event, TEDxIITB was organized by E-Cell, IIT Bombay. TEDxIITB was based on the theme of ‘innovation’ in recognition of the importance of innovation in the context of entrepreneurship. TEDxIITB combined TED talk videos and live speakers to spark discussion and intellectual exchange among the listeners. Speakers at TEDxIITB included: Kanwal Rekhi Renowned entrepreneur and investor. Also, an alumnus of IIT Bombay Sujaya Banerjee Chief Learning Officer, Essar Group Karamveer aka Jim Karter Popular blogger. Manages over 200 blogs! Arnab Bhattacharya Professor, Tata Institute of Fundamental Research (TIFR), Mumbai. Key Organiser, Chai and Why?
The project is expected to be implemented by the next year. It has already garnered considerable support from the students’ community as well as from the faculty. Implementation of this program will be major milestone in IIT Bombay’s attempt to develop a strong entrepreneurial culture on campus.
Dell Social Innovation Competition
Business Association of Stanford Entrepreneurial Students (BASES) is one of the largest and oldest student entrepreneurship organizations in the world. Like E-cell, its vision is to promote entrepreneurship education at its university (Stanford) and to empower the next generation of entrepreneurs. It consists of a team dedicated to help the budding entrepreneur to realize his idea. BASES was conceptualized in 1996. Confined initially to students from Stanford and USA, BASES started a new initiative, this year in the form of BASES - Entrepreneurship Bootcamp. The BASES - Entrepreneurship Bootcamp is an allexpenses-paid trip to Stanford University, including food, lodging, and travel for 35 student delegates with brilliant ideas from all around the world, committed to a conference focused on bringing together those students with founders, entrepreneurs, and venture capitalists for an intensive learning experience. E-Cell, IIT Bombay broke the shackles of national boundaries and collaborated with BASES. As of now, at least top three positions in Eureka! will get a direct entry to BASES E- Bootcamp scheduled to be held in April, 2012. This not only puts E-cell on the forefront of Entrepreneurship map of the world but also gives its patrons a wider exposure.
Dell Social Innovation Competition (DSIC) is the flagship event of the entrepreneurship cell of University of Texas powered by Dell. The DSIC is a global competition that identifies and rewards talented university students who will address many of the worldâ€™s most pressing problems with their innovative ideas. Inspiring a new wave of social entrepreneurs depends not only on worldclass teaching and training but also on providing students with opportunities for strategic partnerships and start-up capital. For this reason, the DSIC offers mentoring and fellowship opportunities in addition to seed funding. The international competition attracts more than 1,400 student venture plan submissions from 85 countries and ultimately awards a $50,000 Grand Prize to the best idea. Eureka! Social, the social entrepreneurship section of Eureka! partnered with DSIC this year. This would mean that the top three entries from Eureka! Social will get a direct entry into the semi finals stage of DSIC (to be held online). The top entry will also get a sponsored trip to the final awards ceremony to be held in Austin, Texas. Social entrepreneurship is in its waking stage in India. The partnership of E-cell with DSIC has proved to be a blessing in disguise for the budding social entrepreneurs of the country.
IIT Bombay Batch of 1985
The Grameen Creative Lab Grameen Creative Lab is the social partner of Eureka!. Through its activities, Grameen attempts to empower the new generation of social entrepreneurs. Their vision is to spread the social business movement worldwide. Their major activities include incubating social business ideas, assisting investors to create social business funds, and also running and owning some social businesses. Grameen believes that true development can only be achieved if every strata of a country’s economy is taken together in ride of development. The Grameen Creative Lab is spearheaded by the 2006 Peace Nobel Laureate, Muhammad Yunus.
Nurture Talent Academy (NTA) Nurture talent Academy is a one of its kind initiative by Mr. Amit Grover, an IIT Delhi and IIM Indore alumnus. With an aim of helping students to get started on the path of entrepreneurship and better conceptualize their business plans, E-Cell partnered with NTA and organized a series of workshops in 16 cities across India. The workshops were a great success and witnessed an overwhelming turnout of more than 1650 people. The workshops provided insights into what it takes to become an entrepreneur, the process of realizing your big idea and how to formulate an effective B-plan.
The IIT Bombay batch of 1985 decided to extend monetary support to E-Cell to encourage entrepreneurial activities in the campus. The funds allocated will be used to sponsor the Eureka! prize money for the best team under the ‘Technology and Sustainable development’ category (Rs. 3 lakhs) as well as the best IIT Bombay team (Rs. 75,000) annually starting from 2010 for an initial period of ten years. Additional funds have also been assigned to support other entrepreneurial initiatives focused at the residents of the campus including students, professors and staff.
Your story Your story is the leading name in India in the world of entrepreneurship and enterprising. It maintains a database of the major and minor startups flourishing in the country (www. yourstory.in). E-Cell in association with Your Story came up with a one of its kind program of ‘Student’s Day Out’. Under this program, one can spend an entire day with the leading entrepreneurs of the country, listen to their success stories and learn profound anecdotes that shaped their lives. This will enable the students to have firsthand experience with their heroes, culminating into greater understanding of them.
START-UPS AT IIT BOMBAY
(www.saminitiatives.com) Founded in 2011 by Sumit Sharma and currently in beta testing, SAMinitiatives is a niche advertising platform for both products and services. It aims to provide innovative & niche platforms for the advertising needs of firms which has college students as their target segment. The company was successful in conducting a pilot project by getting local players to advertise with them in July 2011, and now the company is looking forward to expanding their operations by getting both local and national players to advertise with them.
With a lot of startâ€“ups mushrooming all over the institute, E-Cell has been doing its bit in providing a support system to existing start-ups and in fostering the spirit of entrepreneurship on campus. Letâ€™s have a look at some of the most promising startups of IIT Bombay.
(www.telelabs.in) A service product company conceptualized by Milind Nayan, a B. Tech student of IIT Bombay, Telelabs Wireless aims to develop most innovative lab in the ever booming wireless industry in India. Apart from that, Telelabs also designs specific local solutions on Mobile. Since its inception in 2011, the company has been addressing the problems in this field and is building a business profitably.
(www.theshopolic.com) Founded in 2011 by an undergraduate student Rohit Vadgaonkar, The Shopolic is a retail product company that aims at providing student and faculty with best prices on study aids such as laptops and other electronic gadgets. Envisioning being a one stop destination for all the retail requirements of students all across India, the company endeavours to provide students with a superior quality, aesthetically designed notebook, at a very affordable price. Further, the company offers many discount plans to the students in a really innovative way.
SPONSORS & PARTNERS
www.nextbigidea.in A DST-Intel-NSRCEL initiative
Sponsors and Partners
The Entrepreneurship Cell, IIT Bombay is blessed with the privilege of having extremely supportive partners and sponsors. E-Cell regards them highly and considers them partners not just in the initiatives and events, but partners sharing a common drive, a common goal. Our sponsors and partners have primarily been involved in helping us establish a comprehensive support system for budding entrepreneurs. It is due to their support that we have grown from a simple competition awarding prize money as incentives to providing expert mentoring, legal consultancy, access to cutting edge software, laboratory resources, media exposure and a rare to get chance to pitch their idea before the best venture capitalists and angel investors of India and abroad.
.com We Bargain.You Gain.
Business Magazine Partner
Social Business Partner
Official Entreprenuer Magazine
Social Initiative Partner
Digital Media Partner
Rural Enterprise Partner
Angel Investment Partner
We believe in long term partnerships and broadening our base of associates every year and thank them for their invaluable support. Supporting Organisation
Media Coverage and Associations
E-Cell has also had associations with reputed media firms and channels and cherishes these associations making it a fair association by effective brand integration. These associations have helped us reach out across the entire country and beyond.
Outdoor Media Partner
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