DESIGN THINKING AND INNOVATION

23SC1209

Topic
ENTREPRENEURIAL INNOVATION
CO-4 Session-19

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ENTREPRENEURIAL
INNOVATION
IDEA TOWARDS A PRODUCT / STARTUP
 IDEA TO PRODUCT / STARTUP
Develop Business Model

Prepare Financial Estimation

Pitch Idea to attract funding

Understand the IPR (Intellectual Property Rights)

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ENTREPRENEURSHIP

“Entrepreneurship is the
process of creating value by
bringing together a unique
combination of resources to
exploit an opportunity with
calculated risk.”

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IMPORTANCE OF ENTREPRENEURSHIP

 Job creator/Employment
 Solution-oriented
 Brings Change
 Contribute to Society
 Motivation and Courage to Wannapreneurs

“All our dreams can come true if we have the courage to pursue them.”
– Walt Disney

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BENEFITS OF BECOMING AN ENTREPRENEUR

• You are your Own Boss

• The boss of Others as Well
• Helps in Country Economy
• Creating Employment
• New Ideas and New Products come
into the Market
• Encouragement to Others
• Money
• Flexible Hours
• Power to Change the World

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WHAT IS A STARTUP?

A startup is a young company

founded by one or more
entrepreneurs to develop a
unique product or service
(innovation is source) and
bring it to the market.

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GOVERNMENT OF INDIA: STARTUP ELIGIBILITY

 Registered as Private limited company (as defined in the

Companies Act, 2013) or Partnership firm (under section 59
of the Partnership Act, 1932) or Limited liability partnership
(under the Limited Liability Partnership Act, 2008) in India.

 Up to ten years, turnover for any of the financial years has

not exceeded INR 100 Crore and working towards innovation,
development or improvement of products or processes or
services

 https://www.startupindia.gov.in

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START UP VS SMALL BUSINESS
Startups are typically online or technology-
oriented businesses that can easily reach a large
market.

To operate a small business,, you don't need a

big market to grow into. You just need a market
and you need to be able to reach and serve all of
those within your market in an efficient way.

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SMALL BUSINESS VS START-UPS

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BREAKOUT GROUP ACTIVITY

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 PROPOSE A START-UP IDEA WITH 500 RS.
INVESTMENT

IDENTIFY PROBLEMS YOU PROPOSE A STARTUP WITH IDENTIFY THE RESOURCE,

HAVE COME ACROSS IN RS.500 INVESTMENT WHICH YOU HAVE TO PULL
YOUR LIFE TODAY TO START THE BUSINESS

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 LEGAL ENTITIES TO DO BUSINESS
(COMPANY INCORPORATION)

Private LLP (Limited

One Person
Limited Liability
Company
Company Partnership)

Proprietorship Partnership
Public Limited
Firm Firm

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 TYPES OF COMPANY INCORPORATIONS
(REGISTRATIONS)
Criteria: on the basis of Size, number of members, Liability &
Access to Capital
 Private Limited Company (Startup) - Minimum Two and maximum 15 directors, maximum 200
share holders, authorizing capital of at least 1 Lakh
 Public Limited Company – Minimum 3 Directors, minimum of 7 shareholders with at least 5
Lakhs
 Partnerships Firms (Startup) – Minimum of 2 and fewer than 10 partners
 LLP (Limited Liability Partnership) (Startup) – Minimum of 2 up to any, capital limit 1 Lakh, At
least one individual partner and others from corporate (Protection with limited liabilities – personal
and business assets)
 One Person Company – Only one person, capital amount is minimum 1 Lakh (in company model)
 Sole Proprietorship – Company and owner are the same

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 Incubators Accelerators
START-UP
ECOSYSTEM Incubators Accelerators

Mentors
Mentors

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INCUBATOR

An incubator firm helps grow a

start-up from an early-stage idea to a
company that can stand on its own.

 Services provided by incubators

include office space, administrative
functions, education and mentorship,
access to investors and capital, and
idea generation.

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 KL Incubation Center

KL Deemed to be University (kluniversity.in)

GOI funded Incubators in KLU

INCUBTORS
IN KLU TBI : Technology Business Incubator (under India
Science, Technology and Innovation GOI Scheme)
PREMISES Technology Business Incubators (TBIs) | India Scienc
e, Technology & Innovation (indiascienceandtechnol
ogy.gov.in)

AIM -ACIC : Atal Innovation Mission – Atal

Community Innovation Center(Under NITI Aayog
GOI Scheme)
AIM

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ACCELERATOR & MENTOR

A startup accelerator is an organization that offers mentorship, capital, and

connections to investors and business partners.

Purpose of a mentor is to help entrepreneurs with specific questions by sharing

their knowledge and contacts harvested through their years of experience.

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DIFFERENCES BETWEEN INCUBATOR & ACCELERATOR

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SELF-ASSESSMENT QUESTIONS

Important phase to build a Start-up

a) Develop Business Model
b) Prepare Financial Estimation
c) Pitch Idea to attract funding

d) All of the above

A startup __________________ is an organization that offers mentorship, capital, and connections to

investors and business partners.

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 THANK YOU
Design Thinking and Innovation Team

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