Submitted to

Dr. Rajiv Joshi

IIM Rohtak
TERM -V
By - Group 13
Entrepreneurship and New Ventures

S. No. Name of participant Roll Number

1 Ankur Ganeriwala PGP13029

2 Jaiswar Sahil Madhukar PGP13108

3 Kavya Gupta PGP13117

4 Kanupriya Yadav PGP13112

5 Anshul Garg PGP13036

6 Anupam Biswas PGP13037

7 Kashish Jain PGP13114

 IDEA RESUME

1. Idea Sketch / Idea Overview

Our idea is to create a platform that connects businesses with technically skilled MBA/Business
students, allowing companies to hire them on an hourly basis or project basis. Business students with
less industry experience find it difficult to attract clients on freelance websites if they want to apply
their learnings to real-world business problems and then are forced to apply to internships and live
projects which demand longer commitment time. Even businesses are not able to find good fresh
talent on freelance websites who have up-to-date academic business knowledge.

In order to address this problem, we are introducing a platform. This platform acts as a bridge
between businesses seeking short-term technical expertise and MBA students looking for flexible
opportunities to apply their skills. It facilitates the hiring process on an hourly/project basis,
providing a dynamic and cost-effective solution for companies with specific project needs.

We aim to develop a solution that addresses the challenge faced by these students in finding short-
term opportunities to apply their skills and gain practical experience.

Many MBA students possess valuable technical skills but often struggle to find opportunities to apply
them in real-world scenarios. This platform aims to fill this gap by offering a space where these
students can access short-term projects aligned with their skills, allowing them to gain hands-on
experience and apply their academic learning to practical situations.

The platform will serve as an intermediary, enabling companies to access fresh perspectives and
solutions to their business problems while providing students with flexible, project-based
opportunities.

By acting as an intermediary, the platform facilitates a mutually beneficial relationship. Businesses

gain access to a pool of technically sound MBA students who bring fresh perspectives, innovative
ideas, and up-to-date academic knowledge to solve their specific problems. Simultaneously, MBA
students gain the flexibility to work on diverse projects, enhancing their skill set and making them
more attractive to potential employers.

This approach not only benefits businesses by offering a cost-effective and agile hiring model but
also empowers MBA students to build a robust portfolio of real-world projects.

2. Critical Uncertainties:

Acceptance of the platform by businesses and MBA students.

The success of the platform relies on its acceptance by both businesses and MBA students. To
mitigate this uncertainty, a comprehensive marketing strategy, including awareness campaigns and
targeted outreach, will be employed to demonstrate the value proposition to both sides. Additionally,
obtaining feedback through pilot programs and continuous improvement based on user experiences
will be crucial.
Effectiveness of the matchmaking algorithm in connecting the right students with the right
projects.

The matchmaking algorithm is a core component of the platform. Testing and refining this algorithm
through pilot programs will be essential to ensure that it accurately aligns the skills and expertise of
MBA students with the specific needs of businesses. Regular feedback loops and data analysis will be
employed to optimize and enhance the algorithm's effectiveness over time.

Determining the optimal pricing model for both businesses and students.

Finding the right balance in pricing is critical for the platform's sustainability. Experimenting with
different pricing models during the initial stages, closely monitoring user behavior, and seeking
feedback will be instrumental in refining the pricing strategy. Flexibility and adaptability in response
to market feedback will be key to overcoming this uncertainty.

3. Consumption Barrier:

Potential customers may be hesitant due to the novelty of the platform.

The innovative nature of the platform may pose a challenge in terms of customer acceptance. To
address this, a robust marketing and education campaign will be implemented to clearly communicate
the platform's benefits, showcase successful case studies, and build trust within the target market.
Offering trial periods or incentives for early adopters can also help overcome initial hesitations.

Companies may have concerns about the quality of work from students without extensive work
experience.

To alleviate concerns about the quality of work, the platform will implement a rigorous vetting
process for MBA students, highlighting their academic achievements, technical skills, and any
relevant experience. Providing businesses with the ability to review portfolios, academic
performance, and ratings from previous projects will build confidence in the capabilities of the
student pool. Additionally, offering a satisfaction guarantee or refund policy for businesses
dissatisfied with the work can address quality concerns.

4. Job-To-Be-Done:
- Businesses:
- Seeking cost-effective solutions for specific business problems.
- Needing fresh perspectives and innovative approaches to challenges.
- Desiring short-term engagements for project-based work.

- MBA Students:
- Looking for opportunities to apply theoretical knowledge in real-world scenarios.
- Seeking flexible, project-based opportunities that fit into their academic schedule.
- Wanting to contribute their technical skills to real business challenges.

5. Target Customer / Persona(s):

 - Businesses Seeking Technical Expertise:
- Small to medium-sized businesses with short-term technical needs.
- Industries with rapidly changing technology or requiring innovative solutions.
- Companies looking for a cost-effective alternative to hiring full-time employees or experienced
freelancers.

- MBA Students/Business students:

- Students pursuing degrees with technical specializations.
- Individuals with a desire to gain practical experience while studying.
- Those looking for flexible, project-based opportunities that align with their academic schedules.

6. Testing Plan:
- Surveys and Interviews:
- Conduct surveys with businesses to understand their willingness to adopt such a platform.
- Interview MBA students to gauge their interest and potential concerns.
- Use feedback to refine the platform features and value proposition.

- Pilot Program:
- Select a small group of businesses and MBA students to participate in a pilot program.
- Monitor the effectiveness of the platform in matching projects with students.
- Gather feedback on user experience and identify areas for improvement.

- User Engagement Monitoring:

- Implement analytics to track user engagement on the platform.
- Evaluate the frequency of successful matches between businesses and students.
- Assess the satisfaction levels of both businesses and students during the initial phase.

7. Details about the initial customers and Customer Acquisition Plan:

Initial Customers:
- Identify businesses in industries with a need for short-term technical expertise. Also, contact
businesses that come to our college for live projects and internships through internal committees like
IRIC (Industrial Relations & interaction cell) and PC (Placement Committee) if they would like to
adopt such a flexible model.
- Target MBA students with technical skills, especially those looking for project-based
opportunities. Also contacting students of our own college IIM Rohtak.

Customer Acquisition Plan:

- Online Marketing:
- Utilize digital channels to promote the platform to businesses and MBA students.
- Leverage social media, content marketing, and targeted online advertising.

- University Partnerships:
- Collaborate with universities to reach MBA students directly.
- Attend career fairs, workshops, and events to promote the platform to students and academic
institutions.

- Business Networks:
 - Establish partnerships with business networks and industry associations.
- Tap into existing professional communities to promote the platform to businesses seeking
technical solutions.

- Word of Mouth:
- Encourage satisfied businesses and students to refer others to the platform.
- Implement referral programs to incentivize user-generated growth.

This comprehensive testing and customer acquisition plan aims to validate assumptions, gather
valuable feedback, and establish a solid foundation for the platform's growth.

8. Team Composition:
• Marketing Manager: Jaiswar Sahil Madhukar, is a marketing enthusiast, who has experience
in marketing & and advertising on digital platforms and with his experience he would be a
good addition as a marketing head.
• Customer Relationship Manager: Kanupriya Yadav, with past experience in customer
handling processes, would be the perfect person to lead this department.
• Manager Operations - Ankur Ganeriwala and Anshul Garg, experienced professionals in the
ed-tech sector, handling backend and customer support.
• Finance Manager: Kavya Gupta, with a major and a keen interest in Finance as a field, is a
great addition as a Finance manager.
• Tech Heads: Kashish Jain and Anupam Biswas, with experience in some programming
languages, will be good people to lead the platform development team.

9. The Business Model:

• Customer Segment(s): The primary customer segments include businesses seeking short-
term technical solutions and MBA students with technical skills.
• Value Proposition: The platform offers a win-win solution by providing businesses with
flexible, project-based access to skilled MBA students and offering students opportunities
to apply their skills in a real-world setting.
• Customer Relationships: The platform will establish strong customer relationships
through responsive customer support, regular feedback mechanisms, and continuous
improvement cycles based on user input.
• Channels: Marketing efforts will leverage online channels, such as social media and
targeted advertising, to reach businesses and MBA students. Partnerships with universities
and business networks will also serve as valuable channels for customer acquisition.
• Key Activities: The core activities include ongoing platform development, marketing
campaigns, and customer support to ensure a positive user experience.
• Key Partners: Collaborations with universities will be essential to reach MBA students,
while partnerships with business networks will facilitate connections with potential
business clients. Along with placement committees of colleges.
• Key Resources: Key resources include the technology infrastructure required for the
platform, marketing expertise to effectively promote the platform and a dedicated
customer support team.
• Cost Structure: The cost structure involves expenses related to platform development,
marketing efforts, and operational costs to maintain and improve the platform.
 • Revenue Streams: Revenue will be generated through fees charged to businesses for
successful hires and, optionally, a minimal fee from students for premium features that
enhance their visibility to businesses.

10. The Value Proposition:

Customer Segment:
a. Customer jobs: Businesses can access short-term technical expertise and find innovative
solutions to specific challenges.
b. Pains: Businesses often face limited options for short-term technical assistance and may
find the costs associated with experienced freelancers prohibitive.
c. Gains: The platform offers cost-effective and flexible access to skilled MBA students,
enabling businesses to address specific project needs efficiently.
Value Proposition:
d. Gain creators: The platform creates value for businesses by providing cost savings, fresh
perspectives from talented MBA students, and flexibility in hiring for short-term projects.
e. Pain relievers: The platform addresses pain points by efficiently matching businesses
with the right talent, ensuring quality assurance, and offering a flexible, project-based
hiring model.
f. Product(s) / service: The online platform serves as a dynamic marketplace connecting
businesses with skilled MBA students, facilitating short-term, project-based
collaborations.

Risk and Mitigation:

• Market Acceptance: To mitigate the risk of market acceptance, a phased rollout with a select
group of businesses and students will be conducted. Continuous feedback loops and rapid
iteration based on user input will be implemented to enhance the platform's appeal.
• Quality of Work: Implementing a robust vetting process for MBA student profiles and providing
businesses with the ability to provide feedback on completed projects will help mitigate concerns
about the quality of work.

Future Expansion:
• Scaling Operations: As the platform gains traction, scaling operations will involve expanding
the user base, onboarding more businesses and MBA students, and potentially entering new
markets or industries.
• Feature Enhancements: Continuous improvement of the platform, incorporating new features
based on user feedback and technological advancements, will be a key strategy for long-term
success.
• Partnerships: Exploring strategic partnerships with educational institutions, industry
associations, and technology providers can open avenues for growth and enhance the platform's
overall value proposition.