Hyderabad, 12 January 2019: Prarambh, the E-Cell of IMT Hyderabad in association with TiE Hyderabad organized a session cum workshop on the TiE GRAD program TiE GRAD is an extremely useful platform, which positions prospective entrepreneurs in front of the genius fragments of the world and gives them a thriving opportunity to pitch their ideas and compete with other budding entrepreneurs all across the globe to earn mentorship and assistance from the very best in the world of business. The program consists of four appraising activities: Entrepreneurship zone, Entrepreneurship Program, Business Idea Tournament, and Grad Premiere League. This program provides the right ecosystem needed to foster such enterprising ideation.
The Indus Entrepreneurs (TiE) was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. The mission of TiE is to foster entrepreneurship globally through the five pillars of TiE: mentoring, networking and education, funding and incubation. There are currently 15,000 members (including over 3000 charter members or mentors) in 61 chapters across 14 countries.
TiE Hyderabad is one of the top five chapters within TiE, having over 170 Charter Members and around 800 Associate Members. It conducts around 50 to 60 events a year across multiple topics, including regular events of six different SIGs (Special Interest Groups), TYE Summer, TiE GRAD Program and the TiE-ISB Connect, which are the annual flagship events.
The saga of entrepreneurship began with the historic tradition of the lighting of the lamp by Dr.Satish Ailawadi, Director of IMT Hyderabad and the acclaimed guests from TiE Hyderabad. After that, the two reputable organizations signed and exchanged MOU’s as corroboration for the long and flourishing relationship.
After the propitious start, the Director welcomed the learned and experienced guests with some warm words. Driven by the exuberant business environment, the Director spoke some golden words highlighting the importance of risk-taking and on-spot decision making in entrepreneurship. He explained as to why entrepreneurial orientation is necessary in this world. He also elucidated how TiE can add value to the caliber of students. Prof DP Kar, the Faculty Mentor of Prarambh followed Director’s oration and shed light on the natural inclination of MBA students towards entrepreneurship and the difference in dreams and aspirations of an employee and an employer.
The guests for the day were:
- Bhanu Prakash Varla, Partner, and Director, Graylogic Technologies Pvt. Ltd.
- Shreeram Iyer, VP- Business Advisory, Trace Consulting (Smartgen Group)
Mr. Bhanu Prakash was the first intellectual guest to speak on the day. He began his substance by briefing about TiE GRAD and the journey of TiE. He talked about facets of his personal as well as his corporate life. He talked about his entrepreneurial venture named Bartronics, which is a pioneer of AIDC technologies in India. His company clutched the use of AIDC and RFID technologies to solve critical business problems. He emphasized the importance of the right way of pitching ideas in order to attract imperative attention. Mr. Bhanu also shed a bright light on the story of start-ups like Kent RO, Nirma, and iD Fresh Food to show how a small idea, when executed with the right plan, can turn into a million dollar business. He believes that passion, ideation, and thinking are the three strands of change, and every entrepreneur must have these elements to be successful.
After the startling words of Mr. Bhanu, Mr. Shreeram took the podium and began his illuminating address with the phrase “Believe in yourself”. From an early age, he had dreamed of becoming a CEO by the time he turns 35. Keeping that dream in mind, he worked his way up, made useful networks, set timely plans and eventually achieved his ultimate goal. He explained the significance of attributes like leadership, responsibility, preserving the crème, and protecting our people in successful entrepreneurship. His remark “Money eventually comes,” clearly asserts that creating an idea is more critical, business will eventually build around it. Mr. Shreeram also pinpointed the importance of working on your own dream rather than working on someone else’s. With the inspiring phrase, “One life, one chance”, he concluded his arousing speech.
After the motivating speeches, students were divided into groups of three, and then the real fun and excitement began. The groups had to brainstorm a business idea and had to present that idea in the form of a lean canvas model. A lean canvas model is a one-page business plan aimed at reducing the duration of presentations and designing the plan in 20-30 minutes. It consists of eight closely related components: Problem, Solution, Unique Value Proposition, Unfair Advantage, Customer Segments, Market Size, Revenue streams, and Cost Structure. Mr. Shreeram expounded each component comprehensively so that no one had any doubts. After a captivating session of brainstorming and conceptualization, students handed over their business plans for assessment. The best business plan would get an opportunity to be presented in an international competition. The judges for that competition would be corporates and venture capitalists of business giants, whose guidance and assistance can prove handy for any business plan.
The Entrepreneurial spectacle ended with a warm vote of thanks. The things learned and the experienced earned, was expansive and will forever keep enlightening our brains. TiE Hyderabad left with the commitment of cultivating pragmatic ideas of IMTians. Prarambh, keeping in mind the merit of the event, made sure that the event was coordinated in the most interactive way.