Entrepreneurship Management

INNOVATION

• Sharath Bangera…..5
• Pavan Hegde………..26
• Swati Kulkarni………43
• Sheena Merchant…56
 What is innovation?
• Innovation is a process of taking new ideas to satisfied
customers. It is the conversion of new knowledge into new
products and services.

• Innovation is the process and outcome of creating something

new, which is also of value.

• traditionally the focus has been on new products or

processes, but recently new business models have come into
focus, i.e. the way a firm delivers value and secures profits.
• Innovation comes about through new
combinations made by an entrepreneur,
resulting in
– a new product,
– a new process,
– opening of new market,
– new way of organizing the business
– new sources of supply
 Article
• 4 c’s of Innovation
– Challenge
– Creativity
– Chaos.
– Channelization
 JUGAAD
• Innovation that's driven by scarce resources and attention to
a customer's immediate needs, , not their lifestyle wants.

• "Jugaad means 'Somehow, get it done,' even if it involves

corruption,"

• Global management experts attribute India’s rapid

economic growth to jugaad. In a recent survey by the
Legatum Institute, 81% of Indian businessmen said jugaad
was the key reason for their success.
Mitticool: A refrigerator that runs without
electricity
• A good majority of Indians cannot
buy a fridge as it is expensive
• electricity bills and maintenance
cost is also high.
• Mitticool is an eco-friendly product
which has no maintenance costs. It
also retains the original taste of
vegetables
• Besides, the low-cost fridge, he has developed
a water filter, non-stick tava and a pressure
cooker all made of clay
 MERU
A first generation entrepreneur,
Mr. Neeraj Gupta has teamed up
with India Value Fund to create
the finest radio taxi service in
India under the Meru brand
name.

Mr. Neeraj Gupta

Managing Director
 Key Success Factors
• Meru gave the consumer the sense of reliability that
they will get a cab to any destination within the city.
• Technology
– GPS, call center for order booking etc.
• Economical Factor
– MERU cab is 60% costlier than normal taxis.
However the people still prefer MERU, due to its
punctuality, readiness to go to any corner of the
city and overall customer service.
 Features
• Air-conditioned luxury cabs
• Round the clock availability of cabs backed by a location
tracking GPS - based dispatch technology and a 24x7
Customer Service Center. This means a quicker pickup and
faster response time to your call for a cab
• Tamper-proof digital cab meters, integrated with the GPS-
system to ensure every fare is tracked.
• A printed receipt for every fare
• Basic amenities inside the car like face tissues, FM Radio etc
• Ability to track the location of the cab ‘real-time’ through the
GPS technology - provides security in case of an emergency
 MERU MODEL
• MERU hires the driver with certain driving experience and
train him on soft skills.
– Driver deposits Rs.10000
– MERU buys the car and gives it to the driver
– The fuel cost has to be borne by the driver
– The maintenance of the car is taken care by MERU
– MERU helps the drivers by providing the booking to drivers
through their call centers
– The driver is free to take fares if he doesn’t get the fare from the
call center
– In return the driver provides Rs. 950 per day to MERU
– Whatever the driver earns above these 950 rupees is his own
income.
 Tibbs Frankie
• The year 1967 Mr. Amarjit Tibb on returning back from
England had a stopover in Beirut. During his brief stop there
he stumbled upon a very ingenious Lebanese preparation,
which was a pita bread wrap, with a variety of stuffing's, this
fascinated him.
• Upon his return the idea still lingered on and he kept
innovating it to suit the Indian palate, after a year of research
along with his wife they hit upon the perfect concoction.
• This Indianised wrap was soon tried among friends and family
and after testing brilliantly it hit the markets. That was a new
era to the term fast food in Mumbai, it caught on like fire in
the Jungle, people accepted it and kept asking for more.
• Now came the problem of naming the product, again a
number of brain stroming became the order of the day till a
unanimous decision on the name was taken i.e. Frankie
• This name went on to become synonymous with
taste/quality/value for money, and till date stands for the
same.
• Frankie was then registered as a trademark to Mr. Amarjit
Tibbs Company
 Investment
Opportunity

Frankie was introduced around 33 years back by Mr. Amarjit Singh Tibb
• Starting with one single outlet at Vihar Lake in Mumbai, today there are
various Tibbs Frankie Outlets/Franchise in Mumbai and around four
outlets in Pune.
• The Tibbs chain made Frankie as popular as Vada-Pav in Mumbai.
• The Tibbs had expanded their business considerably whilst incorporating
corporate lunches, taking wedding orders and also providing restaurant
and eateries.
 Customers and
Marketing
• Tibbs Frankies with it delicious cuisines are targeting all segments of the
society
• 50 existing and 30 new proposed outlet.
• These outlets will be opened at variour locations in different cities. Some
of the proposed locations are near colleges, theatres, shopping malls and
commercial centres.
 BUSINESS CONCEPTS

• To maintain continuous - high standards, the foundation at Tibbs is

made with their own family values and work concepts.

Each city has a state of the art production facility which processes all
the raw materials for the various outlets. The result being :
• Efficient ordering through economic quantities and minimization of
inventory carrying costs.
•  Standardization and control of overall raw materials received
•  Standardization of eatables across all outlets
•  Expert monitoring of healthy and hygienic factors
•  Economies of scale in production capacity 
21 FAHRENHEIT
• India’s first permanent bar made of ice has been launched in Mumbai at
Oshiwara
• 21 Fahrenheit has been created by three Indian partners, Vaibhav Tandel,
Aalok Purohit, and Harshan Dharmadas.
• The 820 square foot bar holds 45 people.
• The bar is lit up with red and blue lights, decorated with ice carvings on
the ice chair and serving drinks in ice glass giving it a jazzy vibe.
• Guests are given a navy blue furry Parka coat, insulated moon boots and
gloves to wear before entering.
• The bar is kept at a temperature of minus six degrees Celsius all year
round.
• The lounge is the first in the world to serve delicious, steaming hot
cuisinesin freezing temperatures and on plates made of ice. The tasty fare
comes accompanied bydistinctive cocktails and mocktails.
• On average a person can be inside the ice for 30 minutes - the bartenders
also work on rotation.
 Mumbai mirror…..
Unusual restaurants in the city

• 21 Fahrenheit
Andheri
Experience: Chilling in a lounge where the temperature is -6 degrees
Why: Mumbai’s static humid weather is reason enough to try this one-of-
a-kind ice lounge in Mumbai’s suburbia. To enjoy the -6 degrees
temperature, you’re given a thick jacket, warm boots and a pair of gloves.
As you enter, the memory of being in Mumbai soon evaporates in the
vapour emanating from your mouth. Everything inside the lounge is made
of ice; the seats, the walls, the stringed curtains, the décor and even the
glasses you drink your favourite cocktail/mocktail in. Like I said—
everything’s made of ice. What makes it super spectacular though is the
fact that you can eat hot starters while enjoying the chilly weather.
 Some Young Innovators
• 22 year old entrepreneur
• Still doing his engineering
• A partner in a firm called Inbotics
• Very passionate about his work
• Inspired by Steve Jobs of apple
• “A man is judged by the way he
thinks”
Mr. VEER GUPTE
 About The product---T3

• 32GB SSD, DUAL CORE

• PROCESSOR 1.67GHz
CAPACITIVE
• TOUCH SCREEN,2USB PORTS,1 HDMI
PORT,3.5MM JACK, 3G, WEBCAM,
BLUETOOTH,WI-FI,4 HRS BATTERY ,2DAY
STANDBY
AND THE BEST THING IS THAT IT IS
UPGRADEABLE
 Projectwale.com

• Bunch Of Entrepreneurs- Mr Paresh (age 28 ), Mr Pramod

shetty, Mr Bharat started this busness

• They say “ Opportunity lies everywhere, You just have to

realise it”

• Their products…
Automatic gardening robot
Intelligent helmet
 Novatech
• Situated in ambernath

• Produces Perfumes…all brands

• Exports them to other countries

 Conclusion
• Innovation can be modification or a new creation

• Innovative thinking is the need of the hour to keep

up with this dynamic world

• Innovators are the trend setters of modern business