kishor Jagirdar

Managing Director...

IFIM the leading B-school in Bangalore inaugurated its incubation center called Center for Entrepreuneurship - CFE on the 12th of Dec 2007.It was a remarkable event which was brewing with all the ingredients of entreprenuership.The forum had some excellent speakers who incidentally are also the mentors for the Incubation ideas.IFIM has taken a very bold initiative in harnessing the ideas, culling them and developing it into a business plan that will finally be attracting Investments

Speaking on the various processes that he had to undergo establishing “ DAILY BREAD “ as a company Mr. Arjun Khetri highlighted that one need not be specialist in the area of the business but must build the concept of the business on sound market understanding and needs. A good market research should be in place before taking the plunge.

Prof K.Kumar NSRCEL IIMB cautioned that one has to do a lot of ground work that can strengthen belief in the product or service and must have a very perseverant attitude towards the business. There is no rocket science that can take one to success but one has to have a strong passion to withstand the tide and be tolerant till one hits the point where the business starts working.

According to him the need of the hour is

•Shoring up the incidence of entrepreneurship

•Instilling an entrepreneurial mindset in the society, particularly amongst the youth

•Developing a pool of high caliber entrepreneurs

•Increasing the probability of success of entrepreneurial ventures

Mr. Balaji The Chief Catalyst BusinessGyan was very forceful on his perception of a successful business being like the Spider and its web .It makes the food come to its feet and it does not chase food. Likewise an entrepreneur can spin ideas where creation of wealth takes place with the “pull strategy “

Mr. Sanjay Padode MD ASIAN CERC clarified to the gathering that this is based on the purpose of encouraging, incubating and facilitating the spirit of global enterprise amongst aspiring management graduates. The mission is to create a stable eco-system that will provide a plug and play solution for budding entrepreneur and optimise business opportunities. The facilities at IFIM aim at becoming the enabler of “business challenges” and channelize it into wealth creation.

CFE will examine proposals from management graduates who have an affinity towards entrepreneurship by developing their business concepts with the following areas

a) Gap analysis : by identifying the niche area of the market to which the concept would address

b) Business Plan: Convert the idea into a more tangible form in terms of plan that will have the basic milestones and structures defined.

c) Risk factors : Will enable them to run through the concept in a practical angel whereby the pit falls and risk taking can be measured and minimized

d) Pilot run : At the incubation center the most core aspect of the product or the service is given the freedom to look at the opportunity and implement it in a contained manner

e) Coaching/Mentoring : The center has some remarkably successful folks and serial entrepreneurs on the board who will be guiding and mentoring the students on their projects.

f) Defining Process : identifying the roadmap with each stage of development spelt out and ironed clearly

g) Identifying people : Locating the key people for execution of the project

h) Funding : Finally the project will be showcased to several investors and the project will be incubated at their own center till the project is able to sustain itself.