EMPRESSARIO …an entrepreneurial insight
JULY ‘2012 Vol. I Iss. 1
CONTENTS Prarambh Speaks…………………………………………….4 EntreSpeak My Entrepreneurial Journey……………………………….. 5
Start-up Interview An AVE-inspiring Story……………………………………….. 7
Zany-Ception …whacky ideas that work!!! VFAMILY……………………………………………………………… 9
Monthly Feature Perseverance Personified – Ratan Tata………………11
Add-ons Readers’ Corner………………………………………………….12 Editor’s Quiz/Current News ………………………………..12
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Prarambh Speaks “Logic will get you from A to B. Imagination will take you everywhere” – Albert Einstein The Entrepreneur Cell of IMT Hyderabad comes up with its first edition of newsletter this summer. With a team of around twelve members in this section, the newsletter has been created in an embedded platform in the form of a flipbook which is both interactive and attractive to read and view. It comprises articles relating to entrepreneurial ventures, new ideas that can be readily implemented as well as a snapshot of the current happenings of the E-Cell. We are proud to welcome the second batch of IMT this year that had been of immense help in working as a team to create, compile and edit the write-ups in a short span of time. The newsletter would be a monthly issue, in the same structure and format with further updates and modifications as and when time demands. It would aim in creating awareness on entrepreneurship, student start-ups, generating ideas that can be put to paper and enlightening the readers about different stories or on-goings related to business ventures. We hope this effort would inculcate the objectives erstwhile mentioned amongst students and other readers and make our output more promising and addictive with time. Thanking You, With Best Regards,
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EntreSpeak My Entrepreneurial Journey Kunwer Sachdeva, Founder and Managing Director, Su- Kam Power Systems Ltd. (Contributed by Shubham Singhal)
With me, innovation is the key to success. I was very clear, that I have to be on this. We manufactured a 100 KW inverter in 2008. No one ever thought it to be possible. My dreams are so big that even if I work with the newer crop for another 50 years, they might not reach fruitition. I still don’t understand the meaning of the term ‘Entrepreneur’! I think decisions are never ‘right’ or ‘wrong’ . It is the outcome which may be either positive or negative. But that doesn’t mean you can sit on the fence - you have to weigh the pros and cons and surge ahead in life. That is an essential quality for every entrepreneur. Mistakes do happen in life. I too have made mistakes and learnt from them. One should not be driven only by the monetary value. It is transient in nature: if you are successful it will keep increasing. Some people may be with you and some may not. You should be driven by your passion or your interest primarily, that should be your thrust. There were two or three employees of mine who were not good at work, so I put them on the job for putting up boards, reading SU-KAM on it all over India. The idea worked!!!. We succeeded in persuading dhaba owners to put their name on Su-Kam boards and advertise along with their product. We gave incentive to them in form of a T-shirt, a strategy that You need to explore your brands We opened our first branch office in passion and work towards it. Hyderabad and started exporting products as That is what drives me well as participating in overseas exhibition.
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Later on we developed some innovative technologies which needed protection. We realized that we have to patent our products to survive in this industry. So, in 2004 for the first time we applied for a patent. With superior products, a well-known brand name and strong dealer network, Su-Kam achieved remarkable growth. Our turnover stood at Rs. 100 crores. Today, it is touching Rs. 500 crores, of which Rs. 80 crores comes from the export market.
Su-Kam is the worldâ€™s second company to manufacture a 100 KVA inverter and inaugurate Indiaâ€™s first SMF battery plant. We also armed ourselves with a trademark registration in the US, where we are now exporting. SuKam has 32 people working on R&D- all engineers.
With me, innovation is the key to success.
Innovation is a mild way to describe it. . . . What they do is to keep inventing. As an entrepreneur I need to make sure that both I and my company are up ahead especially with the competition around. We have applied for 50 technology patents and now every month we are applying for two technology patents.
You need to explore your passion and work towards it. That is what drives me.
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Start-up Interview An AVE-inspiring Story Sareddy Chiman Prakash, Executive Director-Sareddy Technologies Limited and Developer of AVE tablet PC (Interviewed by Harsh Kapadia & Sudip Brahmachary)
PRARAMBH(P): Tell us something about yourself. CHIMAN(C): As a popular belief I am known as software & hardware guy, but I am an international chess player too & represented India & AP in many international and national tournaments. When I was in 8th standard, I started learning gaming & in 2011 we released "I AM THE VEN" pc game. Apart from software we are interested in entering hardware field as well & started working on it in 2011. P: When exactly did you discover your passion for technology? C: Since my childhood I was very passionate towards gaming & that pushed me into hardware. In the initial stages of our R&D we thought of developing a budget motion sensing gaming device using IR. But it was a bit complicated to develop and so, we changed our idea to tablets. P: With so many segments available in the technology area, why Tablets? C: Well, there are so many segments but there is a lot of market for devices like tablets which is very easy to carry and use. Nowadays, in few western & Asian countries people are feeling really bored to power on their laptops or desktop's to check a website or to type an email or for banking or any other work. They want everything to be done by their tablets or iPads. P: With government-backed “Aakash” and an already competitive market with top brand like Apple iPad and affordable brands like Micromax, how do you place your product? What’s the USP of your product?
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CHIMAN: My selling point is the traditional one which is to provide much for low price. Actually in my target segment Aakash and Apple aren't a serious competitor because Aakash is a product with lot of limitations which doesn't satisfy their requirements and next apple is too expensive comparatively which they don't love to go for. P: Throughout your entire work towards the research and development of the Tablet, who has been guiding you? CHIMAN: I have some good number of friends in abroad working with semiconductors; they always helped me and my team to resolve the issues. P: What are you more focusing on right now: mass market share or providing a quality product to a small segment? And whatâ€™s your target crowd? CHIMAN: As a matter of fact right now we are not that successful in open market, but we will definitely reach the open market in no time. Right now we are targeting few segments like students, software etc. P: What is your future plan regarding the product and its R&D? How do you plan to divide your time between your education and product development? CHIMAN: Our ultimate aim is to drive the gaming to its next generation i.e. virtual reality, when it comes to hardware we are coming up with a budget fully loaded tablet & also all in one multimedia desktop pc. Well, right from childhood I never attended any session at schools or colleges but I used to attend only the annual exams. Right now I am doing B.Tech 2nd year in Siddhartha Institute of Engineering and Technology, Ibrahimpatnam. P: 5 years down the line, what do you expect from your product? CHIMAN: In near future the market is going to become lot bigger especially for tablets. So, we are expecting our sales to increase by around 50-70% P: Apart from tablets, which other product line/technology segment are you planning to enter? CHIMAN: We are planning to enter the mobile segment in near future, right now we are about to release our desktop PC. P: I believe many people are astonished when they hear about your age, so what drives and keep you awake at night. CHIMAN: What I personally feel is age is not an important aspect but itâ€™s the education to develop which is really important. P: Thank you for your time. For our readers and budding entrepreneurs, what message would like to give? CHIMAN: I think I'm too young to give messages.
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Zany-Ception …whacky ideas that work!!! VFAMILY - The next best thing to being there Social Entrepreneurship (Contributed by Kashif Kalim)
How Do Non-profit Organizations Work? Non-profit organizations work around the world to accomplish philanthropic missions and provide services for people in need. Non-profit organizations exist to serve the humanitarian or environmental need, and all of their inner workings are geared towards this goal, affecting the way the organization raises money, employs its workforce and invests its income.
Fundraising Non-profits obtain the lion's share of their income from donations and grants. Donations come from individuals, groups, trust funds and other organizations. Nonprofits engage in a range of fundraising activities, including mail campaigns, email marketing and benefit events to gain new donors.
Proposed innovation Virtual family extension model [V'FEM] Generally the fund received by NGO is utilised/invested into various ventures without disclosing the details to the donors where the funds are being used, though the required information is provided in some cases. This surely gives one time satisfaction of the charity made but the need of the hour in this busy and soar world is to attain a age long feeling of accomplishment.
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In the older times, the food was eaten with one's hands and gives one a connection with the food. The same human connection is what we aim at. What I am planning to do is, to implement one-to-one function strategy to this organization. it means every donor will be associated with one under privilege child, with this he/she will come to know where their money is going, and he/she will have the satisfaction that his/her money is changing someone's life. He/she will be directly associated with the child and if they want they can meet the child. This approach will give complete satisfaction to donors and also there will be lot of transparency. This will also motivate a lot of people for donation and we can change life of many under privileged children. We can approach a lot of people from diverse background for donation and with the help of one-to-one function strategy we can convince them that how their donation can change someone's life. We can convince them to donate 1% of their annual salary for any particular child for their education and health purpose. On the trial basis we can implement this model in a very small village by taking responsibility of 10-15 children. We can define this model as virtual family extension, wherein you donâ€™t take complete responsibility of the child and yet be a part of child's happiness and sorrows.
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We can define this model as virtual family extension, wherein you donâ€™t take complete responsibility of the child and yet be a part of child's happiness and sorrows.
Monthly Feature Perseverance Personified â€“ Ratan Tata (Contributed by Raja Ravi Shankar)
Ratan Tata, one of the brightest jewels of Indian corporate world is all set to retire in December 2012 on his 75th birthday, this being his third attempt (twice before he tried at intervals of five years each), having postponed it on the requests of the Directors and Shareholders. The message is clear; Mr. Tata is indispensable to the Group. "We can't lose our RATAN (JEWEL)" said one of the shareholders, when asked about his opinion. This is in contrast to the situation when he took over the responsibility of the conglomerate from J.R.D. Tata in 1991, when he was strongly criticized for lack of experience, unworthy of running such a large group, by the Shareholders and the Board of directors. He was considered to have gained the position purely on the strength of his surname and accused of being responsible for the losses in companies like Nelco and Empress Cotton Mills. Twentyone years down the line he has achieved almost everything on his 1991 agenda; with this year's expected revenue of the group would be around $100 billion, 34 times that in 1991. Some of his major accomplishments are the development of indigenous technology based cars like Indica and the world's cheapest car Tata Nano. He is also credited with the acquisitions of major global companies like Tetley, Corus, and Jaguar & Land Rover (JLR). But his achievements also lie in becoming the role model Business Personality who can be looked upon by any of his contemporaries as a responsible honcho. This is also clearly reflected in his assessment of the time of departure finally because it is the perfect age for his successor Cyrus Pallonji Mistry, 43, to build an empire with a vision of $500 billion as revenue in 2021, aided by Madhu Kanan, 38, to join the group shortly as Head, Business Development, Tata Sons (currently he is the CEO of Bombay Stock Exchange). With many other Directors also retiring, this is the Generational Transition Phase for the group. Tata's wisdom can be best summarized in his own words:"I donâ€™t believe in taking right decisions, I take decisions and then make them rightâ€?
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Add-ons Readers’ Corner Got any comments? Would you like to contribute to the newsletter? Get back to us at: firstname.lastname@example.org. Your comments/views and articles would be published from the next issue. A few things to be kept in mind: • • •
Articles/comments should not be demeaning / damaging in nature. Articles should be to the point and of around 500 words. The decision of selecting the articles to be featured and the number of such articles rests with the faculty mentor and editor of the newsletter.
So put on your thinking caps and show us your intellect side.
Editor’s Quiz/Current News To keep you inform with the past and current happenings in the business world, we would be featuring this column every month.
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Faculty Mentor Dr. Archana Pillai Core Members: Arjun Chaudhuri Udit Luthur Vaibhav Chabra Manish Vishnu M. Concept and Design: Prateek Mukherji Editing and Technical Support: Pankaj Gaurav Anshika Rai Contributors: Harsh Kapadia Sudip Brahmachary Shubham Singhal Kashif Kalim Raja Ravi Shankar
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Institute of Management Technology, Hyderabad Survey No. 38, Cherlaguda Village Shamshabad Mandal, RR District, Hyderabad-501 218 (A.P.) Tel: +91-40-30461650-53 Email: firstname.lastname@example.org Vol. I Iss. 1 |
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