Launched on: June 9th, 2k16
Sh. Chander Shekhar Khare – IAS, Deputy Commissioner Panipat, Haryana
Sh. Tirlok Gupta, Assistant Director, Ministry of Micro, Small and Medium Enterprises (MSME) – DI, Karnal, Haryana
From Convener’s desk:
In a country like India, where there is still a huge potential for new businesses to flourish, thanks to the heterogeneous nature of its society, culture, economy and demography and the high GDP growth rate of the past few years, becoming an entrepreneur should be a natural choice for any young Graduate/ Post-Graduate fresher. The current Prime Minister of India, Sh. Narendra Modi has also provided impetus to the entrepreneurial activity in the country through launching of the ‘Startup India’ scheme which provides a host of benefits and removes a lot of entry barriers for a fresh startup. The United States of America, the largest and most developed economy and currently the only super-power of the world, has reached its current position mainly due to it being the land of opportunity, the ‘big apple’ for new businesses. It will not be an overstatement to say that USA and most other developed economies of the world attribute their economic success through their business friendly policies which provide boost to entrepreneurial activity. Hence, for any country to prosper at a fast pace, it is essential that a large portion of its young population opt for entrepreneurship as a career choice.
It is in light of the above facts that Panipat Institute of Engineering and Technology started ‘Seedling’, the Entrepreneurship Development Cell (EDC) at its premises. Through tie-ups with MSME, hiring reputed professionals from the corporate world as consultants and utilizing the knowledge, skills and experience of our senior faculty who have a rich corporate exposure, we aspire to become one of the few Business and Engineering Schools in the world and the foremost in our country, which churns out more entrepreneurs than managers/ engineers from its passing out batches. This way, we also hope to achieve one of the key strategic objectives with which the Institute was formed. For this dream of ours to become a reality, we have formulated a well-thought out plan for implementation, which among other initiatives involves making necessary changes in our course pedagogy so as to provide adequate time and resources for nurturing entrepreneurial talent among our students. We hope that one day when this ‘Seedling’ of ours will become a large tree and bear fruit, our Institute will be world renowned as a cradle for future business leaders.
Convener – ED Cell (Seedling),
Head- Department of Management Studies (MBA), PIET
ED Cell – Seedling lending hands to new ideas
Panipat Institute of Engineering and Technology (PIET) launched its Entrepreneurship Development (ED) cell named “Seedling” after having taken numerous initiatives in this direction over the past year. The Cell was inaugurated by Sh.Chander Shekhar Khare – IAS, Deputy Commissioner Panipat, Haryana and Sh. Tirlok Gupta, Assistant Director, Ministry of Micro, Small and Medium Enterprises (MSME) on 9th June 2016 in the Institute premises.
Starting of new ventures by young entrepreneurs is the best strategy to combat the economic slowdown being currently faced by the entire world. Keeping this in mind, the Convener of ED Cell, Mrs. Priyanka Sehgal, initiated numerous activities to promote the spirit of entrepreneurship amongst its students, over the past year. Some of these included:
- Workshops: The department organized a “One day awareness program on support for Entrepreneurial and managerial development of SMEs through Incubators” on 11th February 2016 in the college campus. The program was conducted by Mr. Trilok Gupta (Astt. Director, MSME-DI KARNAL). The objective of the workshop was to sensitize the students on the benefits of launching their own start-up and the support which can be garnered from MSME in this regard.
- Business-model competition: On the eve of ‘Maestros’, the annual three-day cultural festival held in PIET from 28th January, 2016 to 30th January, 2016, the Department held an institute –wide business model competition in which teams of young, budding entrepreneurs delivered presentations on the business model on which they had worked out over weeks of meticulous planning and research.
- Marketing Plan Competition: The Department held a Marketing Plan Competition on 15th September 2015 among its students. Team entries were invited for the competition and were presented with the task of preparing a plan for marketing the upcoming three-day annual cultural festival of PIET titled ‘Maestros’ among participants and students of Delhi-NCR region so as to ensure maximum participation of the event, which itself acts as a brand-building exercise for the institute. Marketing of their product or service offerings in an appropriate and cost-effective way to their potential clientele is a major challenge faced by young entrepreneurs who are strapped for funds in the initial phase of their venture when there is limited cash flow, due to which they can’t afford any expenditure which does not bear immediate results. Hence, this event was organized to give the students a feel of that challenge and understand means to withstand and overcome it.
After the start of “Seedling”, the activities of the Cell on this front have further gathered steam which has resulted in a number of activities/initiatives which are in pipeline over the coming year. Some of these include:
- Guest Lectures: The ED cell plans to increase the frequency of guest lectures from successful entrepreneurs in the college so that students get a hands-on account of the challenges faced by an entrepreneur and means to overcome them.
- Entrepreneurship conferences/courses: The Cell has scheduled a short-term course on ‘Entrepreneurship and Business Incubation using Blue Ocean Strategies’ sponsored by NITTTR, Chandigarh on 7th-11th November, 2016.
- Alumni Jab: The Cell plans to organize an ‘Alumni Jab’ where alumni of the institute who have already turned entrepreneurs would be invited to share their knowledge and experience with the current students.
- Start-up Fair: The ED cell will organize a ‘Start-up Fair’ at the college premises where budding student entrepreneurs of the college and nearby colleges will have the opportunity to rub shoulders with industry experts, researchers, mentors and entrepreneurs.
- Entrepreneurship Wakefulness Drive (EWD): The members of the ED cell will conduct an EWD within all departments of the institute so as to make the students aware on the importance and immense benefits which can be reaped by starting their own venture and the various efforts and initiatives undertaken by the Government of India to promote start-ups. They will also be encouraged to form inter-disciplinary teams so that their varied skill-sets can play a complimentary role in staring a new business venture.
- Knowledge Camp: The ED cell will open a knowledge camp within the institute where books, articles, research papers, CDs, presentations, videos, e-journals and expert advice would be made available to the students who look towards entrepreneurship as a career choice after completing their studies.
- The ED cell would lend hands to innovative ideas through:
- Funding: It would arrange for provision of seed capital and bank loans to promising projects by tying up Venture Capitalist (VC) firms and leading banks.
- Mentoring: The cell would provide mentoring from industry experts, bankers, officials from MSME and successful entrepreneurs to budding start-ups.
- Organizing competitions on innovation and creativity: Considering the fact that new business ventures that run on fresh ideas and an innovative approach have a greater likelihood for success, such competitions would do a lot to develop out-of-the-box thinking among the students.