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20 Jan, 2009 Vol 4 Issue 1

“Entrepreneurship is not just a career, it's a way of life!” Turn to page 4

The Week that passed...
The week burst onto the limelight with the eventful end with the lecture by Mr. Raja Manickum, CEO &
inspirational lecture by Dominique Trempont and Sramana Founder, TESSOLVE.
Mitra on the 2nd of January. A packed Netaji auditorium The final day unfolded with the informative
was witness to two charismatic entrepreneurs sharing their workshop on the “Role of Analytics in Banking and Credit
ideas and opinions on the entrepreneurial scene in India, Risk Management” by Fractal Analytics. It opened up the
and how we as students can make a difference. We broke intriguing field of Analytics before the students, to help
new grounds with the them understand and use it. We had Mr. Mukul Bhatia, MD
inaugural Kolkata Citec Engineering Pvt Ltd, giving a talk on B Plans, economic
Barcamp, on the 3rd of appraisals, and the dynamics of VC funding. The summit
J a n u a r y. B r a v i n g a drew to a close with the one-of-its-kind Startup Camp
depressing taxi and auto wherein startups from IIT Kgp as well as outside were
strike, participants from provided a platform to interact with the students and
all over the country made answer their doubts and queries relating to working in a
the event a grand success, startup. The event was a huge success with students jostling
energizing our conviction for space even at the staircases at Vikramshila.
to carry the initiative further in the years to come. Away from the public eye, we had the final rounds
Entrepreneurship Cell's presentation on the of our flagship events Envision, Eclairez and Pensez being
ongoing entrepreneurial activities and startup successes in held at the RGSOIPL. The Envision top 3 winners came up
our campus at the Annual Alumni Meet drew with innovative products designs, two of which have been
unprecedented appreciation from our distinguished recommended for TEPP funding. Eclairez proved to be the
alumni. The EBRF conference held on the 8th of January platform for next generation social entrepreneurs, with
threw up the relevant issue of clean technology. The business ideas related to waste disposal management, and
presence of distinguished guests Dr. Marco Seppa of the cheaper sanitation for tourists, being brought up. Pensez
University of Jykysvala , Finland and the enigmatic Prof tested the analytical skills of the participating teams with
Dhrubes Biswas of IIT Khragpur made the event an the case study on web based technology turning out to be a
enlightening and meaningful one for the students. tough nut to crack.
The sense of energy, enterprise and excitement This was a year of many firsts in the history of
among the student community was palpable amidst the Esummit, with the Innovation camp being organized
flurry of events leading up to the summit. Finally the specifically for the first year students on the 7th of January.
moment that we had all been waiting for arrived. Esummit We organised REDE, IIT Khargpur's first national
09 kickstarted with the unforgettable lecture by Mr. Sanjeev parliamentary debate which attracted participation from
Bhikchandani, CEO & Founder, Naukri.com. This was 18 teams all over the country, and remarkably one from
followed by two workshops ,one by CII and the other by Bangladesh as well! Negocio, the web based Bplan
Intel. While the CII one focused on the current competition, threw up ingenious business ideas in the
entrepreneurial scenario in India , the Intel workshop realm of the web world. Finally, the first years were given a
addressed the “design productivity gap” issue facing the taste of real time entrepreneurship, in the widely
electronics industry today. The opening day came to an appreciated BIZTURKZ competition.

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2

Concipio
Winning team: Code green
Business concept - The carbon capture technology 'CODE GREEN' is
designed to remove CO2 directly from industrial utility/power plants and
aims to achieve an enhanced efficiency of 97% of CO2 extraction as
compared to 78% in present day technology. It also improvises the H2S
(hydrogen sulphide) extractability to 92% compared to current extraction
efficiency of 60% in an extremely cost effective manner.

First Runners Up: Low Cost Airborne Surveillance System
Business concept - Sumit Goswami and his Team have designed the
airborne platform on a solar balloon which is cost effective and safe as it
uses air heated up by the sun rays. The product is modular, cheap, easy to
handle and deploy and has plenty of civil applications like surveillance of
college campus, housing societies, industrial complex, farm houses,
highways, docks along with defense applications as well.

Second Runners Up: Green Hat Ventures Envision
Business concpet - Arindam Mukherjee and his team help create the much
needed Industry-academia convergence to bring together higher Winning team: Prateek agarwal, final year student from CSE,
education institutions and employers for developing and matching skills The product was a multiuser chatroom application "OMERTA"
with business needs. Their tie-ups with the corporate houses, foreign based on j2me using bluetooth as the communication
educational institutes and Indian campuses provide the platform for our medium.
products and services. They also provide customized employer branding
solutions to our clients (employers) to attract and retain the top talent and First Runners Up: Amit Beriya, Nurali, Amir Khan.The product
also help guide the young talent in making better-informed career was a semiautonomous T shirt folder. The fold to be achieved
decisions. is accomplished by a series of motion of rods on a conveyer.
The idea's feasiblility was appreciated and the jury had
Footnote: The winners of Code Green have already started their carbon recommended them to apply for TePP
consulting firm, Exergy Consultancy. Green Hat Ventures is also operating
out of the campus. Second Runners Up (Two teams joint winners): DIGISLATE
and TELEROBOT

DIGISLATE: Gaurav Shrivastav, Keshav Modi, Vivek Chauhan,
Mentors and Associates Prabhat Rastogi. The idea was to make computer understand
handwritten equations and then calculation of the recognized
mathematical operations using neural network and digital
image processing. The interface is further made interactive by
a simple GUI.

TELEROBOT: Sanjiban Chaudhury, Kinshuk Bairagi, Nikhil
Somani. A remotely based robotic system which can be
operated remotely either via the internet or voice calls or
even SMS's using intelligent hardware and concurrent
message architecture. The idea was commended and was
asked to be applied for funding.

Eclairez
Winning team: Cleangrellite - VGSOM, IITKGP
End-to end solution provider for all the waste disposal issues. They catered
to the garbage problem - organic and inorganic waste collection and
disposal, providing a long term solution, since the capacity of landfills in
cities is limited.

First runners up: Krishi Parashar - TISS, Bombay
Establishing a Fruit-to-Pulp cum Ready To Serve beverage plant in the semi-
urban areas of Uttarakhand to effectively utilize and reduce wastage of
high production of mangoes in this area.

Second Runners Up: Yatri Vishram Kutir - ISMU, Dhanbad
A socio-corporate plan for tourists and customers, to provide them with
basic sanitation at cheaper rates. This plan will also make use of E-
Transactions and IMRSS (Individual Message Report Service System).
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Pensez Second
Team Name: Team 4.0
Members: N.Vijetha, Gayatri, Anubha, Gaurav
Pensez 09 turned out to be hugely successful in terms of quality of
Another great research work on marketing techniques like Viral
participation and level of competition. All the qualifying teams were
m a r ket i n g , g u e r r i l l a
from IIT Kharagpur and were utterly competitive. This year the topic
marketing etc., to study
was "Analysis of web based technologies on tech start ups." The
the effectiveness of
topic was designed to resonate with the aims of Entrepreneurship
these strategies and
Cell. All the entries emphasized on the existing internet market
weigh them against each
strategies such as Viral Marketing, Guerilla marketing, e-mail
other. The presentation
marketing etc., as great source of revenue generators for tech start-
was perfect and they
ups. It was a group of five sophomores who made the final cut and
handled Q&A session
bagged the first prize..
with calm and ease.
First
Third
Team name : Pentagon
Members: Krishna,Apurva ,Suruchi,Sanjay upadhaya, Prateek Team Name: iDEA
A thorough research was made to study the impact of existing Members: Nikhil Singh, Aashish Nawal, Eisha Srivastava
marketing strategies on the revenues of tech start-ups and They were first to present and clearly indicated they mean business.
presented in a flawless manner. Every solution/suggestion was A neat presentation backed by all data and reports, they laid
backed by concrete data. They suggested mobile marketing emphasis on surveys to prove the point. They quoted the success of
strategies to tap the potential rural market in India which has limited Bookmyshow.com over PVR and INOX websites in booking online
access to internet. movie tickets, explicitly mentioning the marketing strategies
employed by Bookmyshow.com.

Winner Runner Up 1 Runner Up 2
Team Name : Detroika Team name : Artinvestment Team Name : Oxyfresh
Negocio Members : Ajay Garg, Ankush Garg
Institute : Amity business school,
Member : Kapil Jain Member : Deepan Sahu
Institute : KIIT institute of Rural
(Web based Institute : Symbiosis Institute of
Noida International Management Management
bplan The plan gave IT and software The plan brought the high and top This introduced an IT layer to the
competition) support to healthcare industry, that class art closer to the common man farm produce logistics and supply
can significantly affect the way who can't afford to own a piece of chain management.
patients are treated. art.

Bizturks simple: whoever sells the most at the end of the day wins. Both
Mahtab Singh Soin, a member of the winning team of Bizturks, an
exclusive first years event organised during Entrepreneurship teams would get 20% of whatever they sold besides the winner's
Summit, talks about his experiences during the event. prize of Rs. 2000. January 10 being Day 1 of the E-Summit had plenty
Each time as I look of activity in and around Vikramshila. The
back on how me, Alhaad, game was to take place in 2 sessions: one
Ankit and Ashish pulled off before lunch and the other till 04:00 pm.
that amazing win in the After clearing the rules and discussing the
final round of the initial team strategy, we made a shaky
“BizTurkz” competition start at half past ten. It took us a good half
organised by the hour to get things organised, make
Entrepreneurship Cell, I posters and get everything in rhythm.
feel a strange joy and thrill Besides, chaos was unavoidable once you're dealing with a place as
at having achieved it the big as Vikramshila. Since whatever money we had to show finally for
way we did. It was a day the inventory had to be at the MRP, the discounts that we offered
pretty high on suspense were on a very tight margin (It was Math and Eco all day long!). We
and emotions. To be tried different ways and means to get customers (I think our hawking
completely honest, I hadn't and “customer-snatching” was a bit indecent at times) but
even thought that I'd be thankfully, they did come in well. (Thank you, please visit again)
winning this contest the Accounting for our sales and arranging for the change was a huge
day the first round took headache! Frustration did mount from time to time.
place. It was through a At lunchtime, both teams were neck to neck with us
wildcard entry that my team entered the final, pitted against a marginally in the lead. We did some rethinking over lunch... finally
“Godly” team, to say the least... Vasanth, Prateek, Arun and Anish deciding to sell some of our wares to the neighbourhood friendly
were probably the favourites to win that day. Tikka and JCB canteen (shrewd businessmen!) upping our sales
Both teams had been called to the Vikramshila Foyer at substantially. Getting more of our friends to buy from us was another
09:30 am last Saturday, January 10 for the third and final round of strategy (contacts help!). With less than 5 minutes to go and no clear
BizTurkz. The event itself, like every other round of BizTurkz, was a lead in sight, we finally decided to buy some of the inventory
surprise, whose rules were presented to the participants just before ourselves, exhausting all stock and winning by default. It was a tense
the event was to begin. The third round was purely business: buy and finish which brought both happiness and relief. In retrospect, now
sell! Each team was issued an inventory comprising bottles of Amul that the feeling has completely set in.... well, that where I'd started!
Kool milkshake and different Amul chocolates. The challenge was
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Guest Lecture: Dominique Trempont and Sramana Mitra
“A journey of a 1000 miles begins with a single step.” One brilliant idea she suggested was Doctor-For-Sure: Health
Enlightened students of IIT Kharagpur took that momentous step Insurance for everybody. A corollary to DFS is Doctor-On-Wire:
towards an entrepreneurial voyage of their lives, during the lecture by Regional healthcare franchise with tele-medicine facilities. Coming
Dominique Trempont and Sramana Mitra, at Netaji auditorium, on to the education sector, she asserted that the education system in
the 2nd of January, 2009. Rarely have the students of IIT Kharagpur had India is highly overrated.” While we have the IITs, IIMs, BITS and a
the privilege of listening to two stalwart entrepreneurs from Silicon few good NITs and other colleges, the higher education framework
Valley together sharing their views and ideas on what they think is far from being considered sturdy. And the school level education
about the entrepreneurial scenario in India. This was one such special industry stinks! It is a case of the blind teaching the blinds.” This
occasion and the packed auditorium at Netaji bore ample testament remark of her drew a thunderous applause from the audience. She
to that. spoke about initiatives such as MIT India and Harvard Medical
Sramana began on a highly optimistic note by urging the students School Franchise which aim to make teaching a more rewarding
to think beyond reality for a moment, and imagine themselves to be career for the talented teachers.
entrepreneurs at the very Talking about sensible ideas, edutainment takes the cake.
outset. She recollected Sramana suggested coming up with educational games that are
how the scenario at IIT KGP addictive as well. “All one needs to do”, in Sramana's words, “is to
was 12-13 years ago when understand ‘The Psychology of Addiction’.” She also highlighted the
she was unable to recruit example of Harish Hande, Social Entrepreneur of the year 2007,
even a single student for whose company
one of her ventures. She SELCO, provides
went on to list the solar energy
important areas/sectors services for villagers
which are as yet untapped without electricity.
and are potentially huge “Can there be a
opportunities for our better example of a
generation. social enterprise
The first of these areas that successfully
of opportunity was WATER. gets past so many
At this point, Dominique goals, solves so
stepped in to explain the many problems,
seriousness as well as the causes so much social upliftment, and yet, is for-profit?”
entrepreneurial potential of The best as they say was reserved for the last . Dominique gave
“Fresh Water on a Shrinking Planet”. Sharing with us the business us a rare glimpse into the mind of Steve Jobs , as he shared with us
secrets of Silicon Valley, he illustrated how crisis management the famous story of NeXT's turnaround. Labeling Jobs as a maniac
strategies can be translated into successful business propositions. for perfection , he explained what high pressure leadership, which
“Water promises to be to the 21st century what oil was in the 20th characterizes Steve Jobs, is all about. In this context he quoted the
century”- a scarce and valuable resource that determines the wealth remarkable comment that Steve Jobs had once made “ The real risk
and health of nations. India spends close to 3% of its GDP on the for an entrepreneur is not to take the risk.” For an entrepreneur, it
treatment of water bourne diseases. So it is a huge treasure chest that is absolutely essential to keep taking chances, keep testing and
entrepreneurs can tap into and invest in. questioning one's beliefs and assumptions. “The moment you
Citing the example of Energy Recovery Inc., a billion dollar become closed , you will become obsolete”, was Dominique's
company that is the leading manufacturer of energy recovery devices pertinent observation.
used for seawater desalination reducing energy consumption of up to The lecture came to a logical end with the highly interactive
98%, he said that India has mammoth opportunities for desalination Q&A session with
plants along its huge coastline, which must be exploited. His primary the students. They
objective was to impress upon the students the fact that by shared their own
concentrating on problems in India , and coming up with innovative i d e a s a n d
solutions, we can export them to the rest of Asia and thus capture ambitions with
international markets. Dominique and
It was now Sramana's turn to provoke the audience into serious Sramana. Thought
contemplation with her candid yet persuasive presentation . Sramana p r o v o k i n g
rightly pointed out that India has a pool of talent in the IT & Telecom questions related
sector that is yet to come out with an indigenous & innovative to the role of
product. Now is the time to make the paradigm shift from a service entrepreneurship
based industry to an innovation driven product based one. SAAS, in India, as well as
Enterprise 3.0 , microfinance, micropayment and Rural BPO'S were political and
marked out as key areas that will be the engine for growth in the days economic issues were raised. Sramana's parting message to the
to come. Her point was, India can be in software what China is in students was to always think out of the box . Young students need to
manufacturing. have the courage and conviction to come out of their comfort zone
Health care and education were signaled out as two lucrative areas and start something new. After all “Entrepreneurship is not just a
which hold unparalleled potential for innovation and upgradation. career, it is way of life.” Point taken Madam!
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Sanjeev Bhikchandani, CEO & Founder naukri.com
“Entrepreneurs are those who can swim against the tide.” says Sanjeev Bhikchandani, co-founder and CEO of Naukri.com, India's
largest web-based employment site. In his interactive session he laid bare his life, his struggles and experiences and what made him the man
he is today.
According to him entrepreneurship is not about money, valuation or lifestyle, they are in fact the incidental outcomes; it is about the
intangible benefits - doing things your way, and being your own master. If you want to
do it, go take the plunge.
In terms of funding your venture, he was candid in saying that in most probability,
you would not get a VC. But that is not the end of the road; most successful
companies like Microsoft did not raise venture capital. Angel funding and
bootstrapping would be best, but you have to be ready to put every penny together.
He himself struggled for ten years, worked as a journalist, editor, taught in a
management school and what not. To simplify things further, he said that you need
not have a vision while getting started, the vision evolves with time. “Now that I'm
successful, people call me a visionary as well”, he said. We need to get the small but
important things right.
He stressed on having a deep customer insight before getting started. Ask yourself,
is my business solving the problems of the customer? He reiterated the fact that as
entrepreneurs we have to think different, and INNOVATE. “If the idea is obvious, it is
already too late. And beware, you might have to just live with your idea for a quite a
while.” He lived with his for 7 years!
He advised the gathering to focus more on cash flow rather than profits, on execution than management. Talking about the
importance of scalability, he said that products are more scalable than services. Initially things might not turn out to be as rosy as you might
expect, but you need to persevere, stick around. Success might be just a block away.
On questions about Naukri.com, he shared with us his side of the story, how he raised revenues for it, how he managed it against all
odds and kept improvising.
In conclusion he urged us to protect the culture of innovation. “You need to join the dots; understand what you are passionate about
and implement it” he said. “Success is sure to come if we have the passion to plunge in, commitment to cruise over and faith enough to fly
on.”

Raja Manickam, CEO & Founder tessolve
Listening to a KGP alumni speak about “Those were the days” is always an enriching experience. More so when the person in
question is Raja Manickum, CEO & Founder of Tessolve, the world's largest test solution provider for semiconductors. Esummit 2009 gifted
the students with such an occasion to listen to one of India's leading entrepreneurs in the field of electronics, share with them his views and
opinions on the scope and potential of the semiconductor industry in India, as also the story of how he made it big.
He began by reminiscing about his hostel life at IIT Kharagpur when the food was bad , the ragging worse, and fun meant Spring Fest!
Talking about his stint at Texas Instruments , he said “I learnt a lot at my first job. I realized I was a pretty good test engineer.” He then went on
to work for Fairchild, where he increasingly started to find everyone around himself incompetent. It was his wife's teasing challenge to him,
to go and start his own company, that led to founding Tessolve in 2003. He had the belief
that what they had been doing in the US could be replicated in India.
He then went on to highlight the Taiwan and Singapore model of the
semiconductor industry, two countries that collectively manufacture upto 50% of the
semiconductor devices produced in the world. Explaining the methodology that enabled
these countries to succeed, he also talked about the engineering and infrastructural
challenges these countries are facing in recent times, which can work to India's
advantage.
The current Indian semiconductor ecosystem he feels is evolving from design to
knowledge based services going into manufacturing products. Excellent R&D facilities
coupled with our numerical strength and the Government's initiatives to turn India into a
manufacturing hub, he believes, will enable the Indian semiconductor industry to grow
as slated from $3 billion to $ 15 billion by 2015.
Elaborating on how Tessolve evolved, he emphasized on the importance of
building a technically adept and motivated core team, which is the key to success in any business. Today, Tessolve is the world's largest
semiconductor test solution provider with a state-of-the-art 50,000 sq ft testing facility in Bangalore and over 400 employees both in India
and abroad.
Outlining the key factors that helped Tessolve succeed, he said a clear understanding of the customers’ needs, passion &
commitment to dominate their field of operation, and their highly integrated Tessolve team, enabled them to differentiate themselves from
the rest of their competitors. His advice to the budding entrepreneurs of IIT Kharagpur was, “Think what you can do that will be unique and
different, and have the confidence to confront failures. Only through failure will you be able to figure out your strengths and weaknesses.”
6

Workshop by CII (Confederation of Indian Industry)
India is a fertile ground for entrepreneurship. With this theme
Entrepreneurship Cell organized a workshop on “Entrepreneurship: bottom in the set-up. Google story is a perfect case to be analysed.
Emerging Opportunities” by Confederation of Indian Industry. The entrepreneurial role encompasses perception of market
Mr. Saugat Mukherjee, Eastern Regional Head, CII, spoke about opportunities i.e. how best one grabs opportunities. In view of scarcity of
two career opportunities that everyone is faced with: wage employment in resources it is a challenge for an entrepreneur to substitute one resource by
which one does routine job, and the other is entrepreneurship in which we the other. One needs to market in the mind space of the customers. Entire
are our own boss. It is a fact that India is a country of youths. Our population customer and supplier chain has to be managed efficiently as they will be of
growth rate surpasses that of employment creation many-fold. use in times of crisis. Managing finance is of utmost importance, it is the
Entrepreneurship and economic development are closely related. oxygen of the system.
Entrepreneurship leads to The entrepreneurship pyramid in India has its base on agriculture.
creation of wealth through India being an agrarian economy provides a lot of opportunities in primary
production of goods and sector like food processing which are still almost unexploited.
services which results in One must
increase in real per capita always follow the
income. core principle that
Motivations for becoming an aspirations have to
entrepreneur are diverse: be greater than
seeking independence, resources; resources
challenge, dream desire, or will always fall in line.
family background, market As an individual,
opportunity, idea driven, etc. each one of us must
Data regarding sources of start- have high and
up phase funding throws some interesting results: 63% are self financed, shared aspirations.
22% by banks, only 3% by venture capitalists (VCs) and another 3% by angel The other core
investors. Financing by VCs is very risk oriented as only one out of five principle is folding
ventures succeeds; hence they try to offset the losses from the one that the future in rather
succeeds. than extrapolating
Steps of making an enterprise comprise sensing entrepreneurial the past. If we cannot imagine our future we cannot create it. We need to
opportunities which can be old product in old market to new product in focus on next practices which bring innovation rather than best practices
new market. As a part of enterprise planning and resourcing one must be which is a traditional thought.
alert about working capital requirements, sometimes it just dries up. The workshop was quite interactive with India’s premier business
Functions of an entrepreneur include inculcating a culture of association reiterating its focus on inclusive competencies. CII in
innovation for a system to survive. Only a risk lover can become an association with Department of Science and Technology helps in evaluating
entrepreneur, so one should have the risk and uncertainty bearing capacity. technical ideas, helps in patenting them, and provide funding to them. The
For an organisation it is very important to have a shared vision from top to workshop was a truly enriching experience for the participants who got a
feel of Enterprising India!!

Credit Risk Management by Fractal Analytics
Prof. P.P Iyer had jokingly remarked at the last summit that “ reassess their credit risk based on their recent behavior. Collection and
Entrepreneurship is like jumping off a cliff with a parachute not knowing recovery scoring helps banks identify those customers who are likely to
how to open it”. Indeed , risk and uncertainty are inherent aspects to being become defaulters or commit fraud. These tools act as customer filters
an entrepreneur. Besides , when it comes to risk management and enabling banks decide on the differential rate of interest to be charged, and
profitability, it is not difficult to appreciate that a banker’s job bears strange their loan recovery strategies. This is known as risk based pricing.
similarities to that of an entrepreneur. Workshop on “ The role of analytics Coupled with debit scoring, these applications constitute the
in banking and credit risk management” by Fractal Analytics, during customized loss forecasting model for investment banks and insurance
Entrepreneurship Summit firms. Credit scoring, i.e. generating functions which convert the various
‘09, gave a better insight elements of customer information (vectors) into a single number (scalar)
into this thought. risk score, reflecting the default probability of a customer, is the most
Analytics is the important Analytics employs. Inherent differences exist between the credit
science of extracting scoring model of the corporate, SME, and the retail sector .The corporate
knowledge and useful sector is closed from credit scoring model because the functions as well as
patterns from raw data. It the factors used are fixed in nature. Whereas in the retail sector, the
is essentially the science of function is fixed but the input parameters keep on changing.
decision making. A bank, The workshop also highlighted the Basel II loss forecasting model
in managing its assets and which guides banks in allocating some provisionary capital to incorporate
liabilities, has to expected losses into it’s pricing strategy. The main aspects of credit scoring
encounter various kinds of are stability, strength, and predictability which measure the stability of the
risks. These can be platform on which the risk assessment process is based, and also the
business risks, credit risks, accuracy of the predictions generated.
market risks and operational risks. The job of risk analytics is to develop The highly interactive nature of the workshop wherein the
credit scoring models of customers, which enables a bank to make prudent participants freely came out with all their doubts and questions & even
portfolio management decisions , thus minimizing loss. suggested possible modifications to improve upon the existing model
Application scorecard allocates points to customers on the basis of clearly illustrated the relevance of conducting the workshop. We hope to
personal information provided by them such as age, nature of assets, organize many more workshops devoted to finance in the future.
number of dependent family members, etc. A behaviourial scorecard
7

EBRF conference
It was a red- letter day for IIT Kharagpur, which witnessed the Prof. Dhrubes Biswas (Prof-in-Charge, Incubation &
launch of Global Ventures Lab (GVL), a collaborative effort of IIT Kharagpur, Entrepreneurship, IT Kharagpur) put his views on GVL: An Indian
University of California - Berkley Perspective. He envisaged it taking the role of a co-entrepreneur.
(UCB), USA and University of Marie Suoranta (Assistant Professor (PhD), University of Jyvaskyla)
Jyvaskyla, Finland, to promote focused on research in
Entrepreneurship and entrepreneurial marketing:
Innovation. It kicked off with an motivation/rationale. She
i n s p i r i n g s p e e c h by o u r said, “There is a need of
honorable director Dr. Damodar combining intelligence of
Acharya. He expressed pleasure Einstein and imagination of
and sincere hope that this will Picasso.”
turn out to be a great initiative. P r o f. K . D . R a j u
Prof. Marko Seppa of the ( A s s i s t a n t P r o f e s s o r,
University of Jyvaskyla, put GVL RGSOIPL, IIT Kharagpur)
as a tribute to the students of IIT Kharagpur. expressed his views on
It was followed by discussions on various topics at Gargi creating and managing new
Auditorium. Prof. Seppa delivered keynote speech on ‘Knowledge as ventures. He stressed that the
Capital’. He focused on a shift from VC (venture capital) enabled world to a government does offer a lot of incentives to small and medium enterprises.
V2C (venture to capital) model. A new paradigm shift is taking place from The conference saw the presentations of many potential
‘cash is king’ to ‘knowledge is king.’ innovative products and services. The conference concluded by a panel
Prof. Kalyan K. Guin (VGSOM, IIT Kharagpur) spoke on how open discussion on Green Technology. The conference, which was being held
innovation can change the way R&D (research and development) problems outside Finland for the first time, was definitely a glorious moment for the
are solved in today’s world.

INTEL: Bridging the design productivity gap
Intel’s highly technical oriented workshop, discussing the customers keep hinting at this question repeatedly, be it in computers
entrepreneurial opportunities in the field of Electronic Design Automation, or cell phones.
was kickstarted by Mr. Biswadeep Chatterjee, an So what are the problems faced by giants like
Enterprise Architect at Intel. He started off comparing Intel today? It goes something like this - for every
Intel India to a start-up, and themselves as rupee spent by Intel on its Server Platform
entrepreneurs selling Brand ‘India’ within the safety of Development, it currently spends Rs. 3.80 on
their parent company Intel. He emphasized that new procurement of software from companies like
start-ups in the area of chip manufacturing should aim Microsoft, Oracle, SAP, Novell, etc. Another 46 paise is
at selling design solutions to large chip design spent on cooling its Data Centers and other Network
companies like Intel, and that such solutions will not be Costs.
capital intensive as most problems have to be solved at He concluded by giving an insight into start-up
conceptual level and need at most one computer. opportunities for wanna-be entrepreneurs. “A
He explained that as the complexity of the mechanical engineer can earn millions, if he can find a
design of chips increases, the computing power way to reduce this 50 percent recurring engineering
required for its verification increases and hence the cost. He mentioned the cost which is largely unproductive. There is also enough scope for software
‘What-Else’ phenomena which manufacturers are facing today, wherein start-ups to provide software solutions to large corporations like Intel at
cheaper prices.”

Alumni talk: Mukul Bhatia
Mukul Bhatia, an alumnus of IIT Kharagpur and a successful Moving on to B Plans he said that before drafting it you need to
entrepreneur gave a talk on bplans, economic appraisals and how VC’s decide your company structure whether you want it to be a public or
invest in various projects. private; individual proprietorship or partnership. Explaining each, he
He started off by telling us about equity or debt- two ways to go pointed out the disadvantage of latter- liability of the business is unlimited.
about starting a company. In debt financing you don’t relinquish any Further, a partnership
ownership over your enterprise and pay a constant percentage to the bank could be registered or
irrespective of profit and loss. While in equity financing, other parties unregistered, he said,
purchase a stake in your business. He said that you need decide which differentiating both.
would be the most efficient way to capitalize your company. The first step is To raise capital, he
preparing a thoughtful business plan that identifies the opportunities for briefly talked about the
growth and outlines the financial costs of pursuing such opportunities. options- going public, ECD
“Banks will be willing to pay you only if you have enough profit, not only to route, FDI and FII.
take care of your expansion needs but also to clear away your debts” he In the end he
said. made it clear that while
Then he went on to explain the types of loans. Often a small banks are conservative and
business will use the cash from a term loan to purchase fixed assets such as finance for working capital;
equipments, land, buildings, machines, etc. used in its production process. VC’s gamble and go for the
Such a loan always has a specified repayment schedule and a floating kill- equity in your project.
interest rate. He emphasized that the debt equity ratio i.e. a measure of a He satisfactorily answered various queries of the students, during
company's financial leverage must be maintained. his session. “You need to do your homework well, have faith in your idea
Coming to working capital loans, which are short terms loan to buy and be practical; things will work out for sure” were his closing words.
earning assets, he explained the working capital cycle; and that the smaller
we keep it, the better.
8

Startup camp
IIT Kharagpur had never before seen an occurrence like this one. to personal satisfaction. Though minting money and being innovative were
On the afternoon of 11th Jan, we had with us a myriad of successful significant reasons contributing to their choice, it was apparent that they all
entrepreneurs. Most of them were recent alumni of Kharagpur. These start- wanted simply to be independent, creative and free.
ups are based on highly innovative ideas and address the need of the public. Most of them had started off on their own money, or by means of
A few of them are – Minekey, angel funding, and expounded on the importance of a venture capital in a
which currently operates as an business - adding on a lighter note, that only when their venture got funded,
opinion sharing software is at would they ever get a salary. However, some of them believed that a really
the core a software that uses good venture, with a great idea and correct execution, could run fruitfully
discovery technology to without external funding. Also touched upon were the issues to be taken
personalize content for each care of by current students at IIT Kharagpur, who would want to manage
user; Data Resolve, which their entrepreneurial career simultaneously with dexterity. Peer pressure
prevents and detects data was another issue that was briefly discussed, and all of those present
leakage; P2Power Solutions, agreed that discouragement will pour in from all directions but the key is to
which provides superior push on forward relentlessly. We also got an insight into the qualities that
technology for industries at a entrepreneurs look for in new recruits. Sound technical knowledge or
cheaper rate, enhancing marketing skills and strong sense of dedication topped the list.
efficiency and quality of power Another feather in the cap of this unique and interactive event,
delivered to them; Intinno, a company that is dedicated to development in was the fact that one of the students from Vinod Gupta School of
the field of education and e-learning. Management, IIT Kharagpur, was selected for an internship, by one of the
Answering the very basic question of why they chose the participating start-ups at the startup camp, namely Nature Admire.
unconventional route of entrepreneurship, they vindicated that they threw Altogether a enjoyable, inspiring and enriching event, the StartUp Camp
all security and protection of a conformist nine-to-five, in order to embrace was definitely the highlight of the Entrepreneurship Summit 09.
the challenges and freedom that entrepreneurship brings with it, as a path

One on one with Dataresolve
The Entrepreneur recently had a chat with co-founder of TE: How did you receive your initial funding?
DataResolve Technologies, one of the recent successful start-ups from Vikram: We got our first angel investor in January of last year. We also met
inside the campus, Mr. Vikram Kumar. Mr. Koustava Ghosh, VP of Operations at Connectiva Systems and he
Mr. Vikram Kumar is an alumnus from the 2006 batch with a B.Tech became our Chief Mentor and Advisor. We also had help from STEP under
in Industrial Engineering and Management from IIT Kharagpur. His the guidance of Prof. Biswas. He helped us understand the true meaning of
company DataResolve Technologies with their products aim to provide Entrepreneurship and with that we rose form strength to strength.
simple and cost effective Information and Data Leakage Prevention TE: Tell us something about your new product.
solutions to Consulting, Telecom, Banking, Data Centers and IT\ITES firms. Vikram: We will be releasing uHook 2.0 at INFOCOM EXHIBITON at Kolkata
With the launch of their latest product coming up we spoke to him in January which will be the first product from our stable. It is an end point
about his beginnings and what plans he had for his future. With the data leak prevention solution to protect your files from getting stolen or
prospects ever brightening, in the form of numerous grants and funds accidently leaked out of your PC. Our products are fully customizable
coming through and their product launch coming up, a visibly upbeat according to customer needs and highly cost effective. USB Data Leak
Vikram spoke to us. Security Product (uHook Personal 2.0) is free for private use by home users
Excerpts from the interview. and ensures that the customers data not be taken away without your
TE: Tell us about how you started off with the idea of Data Leak prevention. permission.
Vikram: Well from early on I was always interested in computers and TE: What is the competitive scenario like?
computer security. I went on and graduated after that and took up a job. Vikram: Large companies now realise the values of DLP and there were
The job wasn't proving satisfactory and I knew that I could do much more on numerous acquisitions to showcase this. Take for example, the $350 million
my own. So with the little money that I had, I headed back to Kharagpur and takeover of Vontu by Symantec, the owners of Norton anti-virus. There
co-founded DataResolve Technologies with Devesh Mittal, 2006 Batch were several other acquisitions by McAfee, Trend Micro and even RSA.
Alumnus from IIT, Kharagpur, then working in British Telecom. Fortunately for us, we were ahead of the competition in India and therefore
TE: And the challenges? the sector is ripe at the moment. We will soon be partnering large MNC's
Vikram: Oh! There were many. I left my job in April and came over to who will be our first clients.
Kharagpur. I didn't have too much money back then but I was confident TE: Is there any way the students here could make a difference?
about my company. I moved in B-112 in Patel hall and well as staying in Vikram: Now that you mention it, there is. We wanted to upload our
Kharagpur goes, the room was all damp. So after quitting my job I was back product, which is free for home users, in different download sites like
here again and I didn't have too much money as well. We financed the initial download.com and rapidshare. So if a student can get us a list of 100-150
running of the company through my Axis bank Gold Credit Card which different upload sites then we will give him an iPod Shuffle. That way they
people will tell you wasn't a very bright thing to do. But I had no alternative. can do us a favour and be rewarded for that as well.
We then got our Directors in place. Each of them left profitable jobs and TE: That would be brilliant. I think we won't take much more of your time.
come over because they believed in this venture. Thanks a lot and best of luck with uHook 2.0

Mail us a list of 150 unique upload sites, such as download.com or rapidshare, and
win an iPod, courtesy DataResolve!
Mail your list at editor.theentrepreneur@gmail.com