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T
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SramanaMitraInterview- Page 2
Exclusive
post-graduate courses as theirplacement percentage just aboutmanaged double figures in thefirst phase, which saw a total ofmore than 90 companies visit thecampus.It wasn't much different atother IITs too, with a similarexcruciatingly slowstart and about half ofthe registered studentsunplaced at IIT Delhiand Madras till date.The influx ofcompanies has beenmuch less in the 2ndphase but Tanuj Dora,placement committeemember, opined thatDecember was one ofthe worst months foreconomy in general,hence the situationshould improve asthey continue tocontact more and morecompanies. He alsostated that the numberof students placed in 1st phase inKharagpur was the highestamong all IITs.Panicked final year studentshave been left trying to find a wayout of the maze of CAT, app-ingand entrepreneurship dreamswith an albatross ofunemployment/dissatisfiedemployment hanging aroundtheir necks. These drastic timescall for drastic change inperceptions. Abandoning themoolah madness, a good workexperience should be preferredover a fat pay package.According to Abhinav Ankur, ex-placement committee member,people should use the nextcouple of years for profile building by giving certificationexaminations, by doinginternships in the time period before jobs, or by going foralternative career paths such asCFA, actuaries etc. so that whenmarket gets better, whenevermight that be, they are the firstones to get jobs.
There are companies whichdo not recruit at campuses. So,network with your hall seniors.Internet alone isn't a good enoughsource. Get their contacts. I know
That will give them and theindustry some time to tide overthe grim situation and they willhave utilized their timeeffectively.
 For those who have been placed unsatisfactorily, I would say,thank your stars that you have a job,cling on to whatever you have fornow, keep applying if you want tobut think twice before you switch.This slump doesn't look like its getting over tomorrow, so it isimportant right now to be in a jobthat is safe.
-Nitin Basant,Fair Issac, Class of 2007
For those who want to turnentrepreneurs, this is a good timeto develop your plan, however,there is a dearth of investors inany new plan right now. Also ifyou are looking at the industry to be your clients, this is going totake a long time to happen, so usethis time to develop yourproduct/idea and be ready tostrike when the going gets better.
this sounds obvious but people arenot doing this. Also, socialentrepreneurs are looking for peopleas they hardly get IITians. Thismight be your chance to learn whileworking at a social start-up.
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Abhinav Ankur, Ex-PlaceComm. member
Looking out for a career insectors which are least affected by recession such as IPL might beanother option.
I do not see any particularreason why people should shy away from the IP sector.We have littlecompetition currently and the realhurdle is to convince people that wecan do well.
-Virendra Singh Shekhawat,iRunway
But the best bet is to remainattached to academics, and topursue further studies. However,having said that, the no. ofscholarships available in theuniversities worldwide is at anall time low (being fundedmostly by the industry) and theapplications at an all time high,so those unplaced should keeptrying, exercise all optionsincluding applying to thecompanies that are not visitingthe campus. According to NitinBasant, Class of 2007, IITKharagpur, they should startlooking for opportunities liketaking up Ph.D. even in Indianuniversities or projects withprofessors in IISc, ISI or TIFR.
M
ore than 1300 registered,about 800 yet unplaced. Thesestatistics hardly leave any scopefor painting a rosy picture.Recession has hit the worldeconomy hard and all IITcampuses bear a gloomytestimony to it. The major sectorsof employers of previous years -finance and FMCG companies -either didn't turn up (see box) orrecruited a very select few.Simultaneously, somecompanies decided to play safeand opted for interns instead offull-time hires. If at all, the dayhas been saved by PSUs whichseem to be recruiting en masseand with their revised packages,they are being coveted bystudents like never before.The precedent was set by thefamed day 0 or 1 (suit yourself)companies – ITC andSchlumberger (recruitmentdown from 12 and 38 last yearrespectively to 2 each), resultingin the lowest number of offersmade on the first day in recenthistory, down to 19 from over 100last year. The trend continued forthe next couple of days as threemultinational firms which camefor the CSE final years took acombined aggregate of 1 student.First time recruiters like JPMorgan and Renault Nissansped the process as theundergrad placementsrecovered thereafter.After the end of the Decemberphase of placements, half thepercentage of undergrads wasplaced and the average salarywas approximated to be around 6lpa (which stood at 7.85 lpa forfirst 10 days). While the averagepay package at our campusseems to be still unaffected, thereason for this is purelymathematical - the denominatordoesn't include those unplaced.The scenario was much worse in
Biggies that didn’t turn up
Deutsche Bank, BarclaysCapital, HUL, Google,Proctor & Gamble, Shell, RioTinto and of course, LehmanBrothers. (Barclays Capitaland HUL did take interns).
Placements
"Now joblessness isn't just for philosophy majors." - Kent Brockman
During these tough times,especially when high paying jobsaren't readily available as we wouldwant, it's high time for the IITians todo some soul searching and seek outthe entrepreneur inside. After all,IITs were created with the vision tocreate job-givers and not job seekers. Although, even from a startup perspective, things aren't rosy as acouple of years back, but these testingtimes will separate the men from theboys, good ideas from mediocre ones;which is good for the industry. Forthe not-so-entrepreneurial, joiningother start-ups would be a goodoption, as they offer good amount of responsibilities and learningopportunities; something which willbe useful when the slowdown is overin a couple of years.-
Joydeep Nath,Intinno Technologies Pvt.Limited
(Also see Sramana Mitra andDominique Trempoint talk onentrepreneurship on Page 2.)
www.scholarsavenue.org
 
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Entrepreneurship summit 2009
-Summit 2009 broughtabout an anthology of
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events opening an assortment ofentrepreneurial avenues for thestudents. One such competitionwas Concipio, a B-plancompetition which served as aplatform for students who look beyond the predefinedconventions by opening brandnew vistas of opportunity before them. This competitionwhich aims at transforming theraw ideas that are born in theinstitute into full fledged business models, leads thewinning B-Plan from the stageof ideation to that of incubation.The entry which bagged thisgolden opportunity was CodeGreen, a revolutionary carboncapture technology designed toremove CO2 directly fromindustrial utility/power plants.Envision, a product designcompetition, provided an arenato showcase the next generationinnovative products, motivatingthe participants to take theirinventions to the next level.Prateek Agarwal, a final yearstudent of the department ofCSE, won the challenge forConsortium and Vikram of DataResolve spoke on their foray inpatent marketing and data theftprevention respectively. Thetalk concluded with ProfessorSrikanth Patnaik, founder ofI.I.M.T, advising on financialaspects followed by aninteractive session betweenthem and students.
Rede', the in-houseparliament
One of the major highlightsof E-Summit 2009 was the firstever Parliamentary Debateorganised in Kgp, REDE' whichsaw an overwhelmingparticipation. A miniatureParliament came alive withinthe closed lecture rooms of theinstitute building throughalmost 27 brain-stormingpreliminary rounds of the threeon three debate. Thediscussions' topics ranged fromthe collapsing economicscenario to the various ways ofthe business world. NUJS,Kolkata swept away all majortitles including the bestAdjudicator. Sumeet Mohantyfrom IIT KGP was adjudged the best speaker in the grand finale.the new buzz among students.This fact was clearly evidentwith the "Start up Talk" beingone of the major highlights ofEsummit 09. Successfulentrepreneurs gave valuabletips to a house packed audiencein V4 on new ventures. WhileMr. Udit of Intinno and Mr.Arindam of Minekey elaboratedon market demand and productinnovation, Mr. Krishna Mehraof Capillary and Mr. Shwetankof P2Power solutions laidemphasis onmaking use ofthetechnologicalexpertise at IITKgp. Studentsalso got a tasteof profitablenonconventionalstart ups withthe presentation made byGreenhat Ventures and NatureAdmire. Greenhat Venturesprovides important dataregarding suitable career pathsand employers while NatureAdmire specializes inmarketing adventure sports.Rajat Sethi of Exergydevising a multiuser chat room based on J2ME with Bluetoothas a communication medium.Pensez, a Case Study contest,was designed to inculcate aninnovative strategy in thestudents for observing,analyzing and assimilating thevarious potentialentrepreneurial opportunitiesaround us. Eclairez, a SocialEntrepreneurship Challengewas an endeavour inspiringstudents to come up with B-plans designedto empowerthose at the bottom of theeconomicpyramid andearn profits forthemselves atthe same time.Cleangrellite, ateam ofVGSOM students won top spotfor their end-to-end solutionprovider for all waste disposalissues.
Start up Talk 
With a dismal placementscenario this season,entrepreneurship seems to be
Entrepreneurship essentials
Exclusive interview with Sramana Mitra and Dominique Trempont
The Scholars' Avenue(TSA)met the Forbes author andentrepreneur Sramana Mitra(SM)and the one time CFO of NeXt,under Steve Jobs and entrepreneurDominique Trempont(DT) atSTEP just before the third annualedition of the E-Summit was to kickoff. And thanks to these two, it didkick off in splendid style with a jam- packed Netaji. Below are excerpts from the the interview. To knowmore about their views on thebuilding of entrepreneurs,mentorship, socialenterpreneurship and their variedexperiences log on to
TSA-
Don't you think that thecurrent recession will discourageentrepreneurship in India?
SM-
On the contrary, the presentsituation is tailor-made for start-ups. Necessity is the mother ofinvention. It is only whenIITians don't get lucrative joboffers that they will think out ofthe box and make a realcontribution. It is indeed pitifulto watch such excellent brainswork as low level programmersin software companies. If youplan on joining an alreadyestablished company like
the business models.
DT-
India has four huge assetsin entrepreneurship: top notchhigh end education, big localproblems (hence markets) thatneed addressing byentrepreneurs (healthcare,alternative energy, water, ruraldevelopment, architecture, online education etc), an enormousknowledge of software(outsourcing) and one of the topcreative culture in the world(with France, Italy and the US).Its first challenge is that theculture does not favor risktaking: "why take a chance on astart up when I come out of IITand can be hired at top salary bya big branded company?" Thesecond (big) challenge is the lackof marketing capability; bridging that gap is a key forIndia to evolve from being asubcontractor to producingIndian global brands in theworld. The third challenge islack of process: too much chaosfor its own good. If it addressesthese challenges, the sky is thelimit for India.
SM-
It is wise never to think asone time entrepreneurs. Drive aproject to its logical conclusion,reset, take a break and figure outwhat is next. Learn to think asserial entrepreneurs.Google, you don't actually learnanything. Working in a startupis far more challenging and willcatapult you onto a steeplearning curve. Indiandevelopers put things togetherso very quickly. What they lackis the ability to gauge theproduct and determining itsmarket value. Another factorwhich bothers me is the fact thatmost of the Indian engineershave made it big in the softwaresector whereas the fields ofmechanical, civil and otherdisciplines have been largelyneglected.
TSA-
Don't you think that there isan imminent risk factor inentrepreneurship whereas in a job you at least have security?
DT-
10 years into my career, Iwas in a large successful globalcompany and was approached by a venture capitalist whocame to pitch me about joiningone of his start ups. At first, Ipushed back and explained tohim all the things that I wouldleave behind. I was father of a 3year old and I saw the risk ofrisking the livelihood of myfamily. We had excellenthealthcare coverage: the venturedid not. I was paid handsomely;the venture would pay me half. Ihad a perfect career trajectory;the venture looked like all risk.All I could see in the venturewas risk, risk, risk. The VC said:"the biggest risk in life is not totake risk" as this is how you become a mummy after 10 yearsin a large company and cannotchange your ways. This mademe think of my father who, allhis life, stretched himself andplaced bets. I then decided tochange my views vis a vis riskand opportunity. I first look atthe opportunity then considerthe risks and figure out how toreduce them as much aspossible. This recipe works verywell for me.
TSA-
Do you have any suggestionsto budding entrepreneurs in India?
SM
-Remember, you never needto have a complete domainknowledge of the technologythat you are using. All mystartups are in ArtificialIntelligence whereas I havedone my Masters in ComputerArchitecture. The key lies inlearning how to learn. Believe inyourself. Observe the marketcarefully and recognize theopportunities available to you.Identify the markets, scrutinize
 
History 
The United Nations General Assembly enacted a model law onelectronic commerce, a legal framework for countries toformulate their laws governing electronic commerce andcommunication in 1997, in order to establish uniformity in theglobalised IT space. In line with the UN and the rest of theworld, India passed the Information Technology Act in the year2000 the first step to regulate and bring into the purview of thelaw the cyber arena. As the only law to deal with any kind of ITrelated activity it was woefully inadequate to deal with criticalissues like cyber-terrorism, phishing, spam and childpornography.Especially after the Baazi.com debacle in 2005 which includedan IIT Kgp student trying to sell obscene videos online, thedemand for an amendment in the IT act grew. In response, theGovernment of India drafted the Information TechnologyAmendment bill in 2006, which after initial rejection by thestanding committee report was finally passed with somemodifications by the Parliament on December 23, 2008.
Glossary 
Act -
A statute or law made by a legislative body.
Amendment -
An alteration proposed or put into effect bylegislative or constitutional procedure.
Cognizable offence –
An offence under which a suspect can bearrested without a warrant. (i.e. – a grievous offence)
Bill –
In the legislative process, a bill is a proposal that is the firststep in creating a new law. To become a law, a bill must bepassed by both the Houses of the parliament and thenapproved by the President.
Standing committee -
Permanent House committees thatconsider bills and issues and recommend measures forconsideration by the full House.
Communication device -
Cell Phones, Personal DigitalAssistance (Sic), or combination of both or any other deviceused to communicate, send or transmit any text, video, audio,or image.
Computer resource -
A computer, communication device,computer system, computer network, data, computer databaseor software.
I
ntrusive 
Technology Act?
he Indian Parliamentpassed an astonishing 8
T
 bills (which become lawsonce passed) in 17 minutes, TheScholars' Avenue analyses oneof the bills passed and wonderswhere the Indian Parliament isheaded. A bill that directlyaffects us, netizens, is theInformation TechnologyAmendment Bill, 2006.The amendment washurriedly introduced due toimportance of certain sectionsdealing with cyber terrorism,which were proving to be anemesis for the investigatingagencies. The casual manner inwhich the bill was passed andthe lack of public scrutiny ormedia attention, raises someserious questions highlighting amockery of the world's largestdemocracy.
 Why is it important? What you need toknow?
The Information Technologyact regulates all areas ofelectronic communication andinformation sharing whichinclude e-mails, text messages,phone calls, Website content etc.
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government to promotetransparency. Copies of theproposed amendment were notavailable till the bill was passed by the parliament. Anyrestriction on the liberty of ademocratic polity should beenforced only after a welldeliberated consensus whichrequires public awareness.
Salient features ofthe bill
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With the advent of e-governance and e-commerce,regulations have been put inplace to legitimize electronicrecords and contracts with thehelp of electronic signatures.
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Setting up a CyberAppellate Tribunal with powersequivalent to that of a civil court,for trying offences bookedunder the Act.The amendment shockinglygives sweeping powers to thegovernment to collect and useany information transmitted orpublished electronically, for thepurpose of the Investigation of'ANY' offence. Earlier this waspossible only in the cases ofcognizable offences. What ismore disturbing is the lack ofeffort on the part of the
Questions we are asking
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If the Parliament passes bills in a state of pandemoniumwithout any debate or even consideration, why does it exist atall?
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Why, in a democratic country, are bills not made public before they are passed, but are ‘uncovered’ only through theefforts of activists, even though the government maintainswebsites for the Lok Sabha and the Rajya Sabha?
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Why did the media not highlight the issue of such animportant and controversial bill being passed by theParliament without debate, and chose instead to giveprominence to the flippant remarks of an MP, and the ensuinguproar?
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Shouldn’t the government create some sort of a publicconsensus before making laws that can curb the liberty of thepeople?
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Why are we, as citizens, typically uninformed of relevantissues such as this, and why do we chose to care only whendecisions directly harm us?
The Government of any country is anabsolute reflection of its people and we have only ourselves to blame.
Offences recognized under theBill include:
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Sending offensivemessages which are deemed tocause 'inconvenience, insult,danger, criminal intimidation'etc.
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Retention or usage of astolen communication device orinformation stored in such adevice.
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Cyber terrorism which isdefined to be an act thatcompromises the integrity of thenation or strikes terror in itspeople.
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Publishing ortransmitting 'obscene' electronicmaterial.
Powers that have beenconferred upon the regulatoryagencies which can be used toprevent incitement of anycognizable offence or toinvestigate any offence:
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Interception ormonitoring of information sentthrough any computer resource.
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Prevention of access ofany information through acomputer resource.
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Monitoring andcollection of data transmitted,received or stored in anycomputer resource, for thepurpose of maintaining cybersecurity or preventing thespread of a computercontaminant.The safeguards that are inplace to regulate these powersare that they will be carried outonly after recording the reasonsin writing. The act also mentionsthat other safeguards may beprescribed if required.
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