Showing posts with label Entrepreneurship. Show all posts
Showing posts with label Entrepreneurship. Show all posts

Sunday, March 14, 2010

IITian scores with lassi bar

Hemali Chhapia | TNN


Mumbai: Walk into hostel rooms on any IIT campus and you’ll probably find every other aspiring engineer glued to his computer screen, feverishly setting up a website. Prabhkiran Singh is a different story; he is a civil engineering student busy whipping up chilled lassi every evening after class.

The 20-year-old from Punjab who came to IIT-Bombay three years ago, didn’t find a decent lassi joint in the city, and hence would rely on his mother’s recipe every time he craved one. That marked the birth of Khadke Glassi — now a stall set up on a computer trolley, operating after classes at IIT close.

The Rs 10,000-venture now has a fan following of close to 500 on Facebook and apart from IIT students, alumni and faculty, residents of Powai, crowd around this little corner every evening. Though 20-dayold, Khadke Glassi is now profit-making. However, like any new undertaking, it has weathered not just ups and downs, but several wrong starts and break-down of financial plans.

How crazy are Mumbaikars about lassi? Where would the best raw material be available at the cheapest cost? Start small or take off really big? These were some of the questions that Singh and Himanshu Dhiman, the initial two promoters, faced. They bought a heater so that milk could be set to curd in the hostel room. Every evening, the duo would make 15 to 20 glasses of lassi and ask friends to review it. Fifteen days later, in November 2009, they started the stall. It’s not your run-ofthe-mill lassi. Flavours include black currant, strawberry and chocolate. You can have it with or sans ice cream.

Sceptics had an obvious question: “Why did you come to IIT if you wanted to sell lassi?’’ Singh and Dhiman were always interested in the food and beverages industry; both love cooking. “Also, my dad’s venture failed miserably and he wanted his sons to join college and take up a secured job. Hence IIT,’’ added Singh. A few days after this lassi bar started, Dhiman quit; two of Singh’s friends help him. “Initially my friends teased me, saying that all I learnt in life was to make lassi. Now they are proud of me that I got out of the hostel room and started doing something I love.’’

Thursday, September 10, 2009

SOCIAL SITES MAKE A KILLING

When virtual cash brings real gain


Singapore: By selling an array of virtual products from avatar clothes to e-furniture, Asia’s social networking sites appear to have solved the conundrum of how to leverage big profits from their extensive user bases.

It’s simple, they say, the money might be virtual but the profits are all too real. Chinese university student Tan Shengrong spends about 20 yuan ($2.90) per month purchasing outfits for her pet penguin avatar or playing games on QQ, an instant message portal on Qzone, China’s most popular social networking site.

It might not seem like a hefty sum, but every fen, or cent, is money in the bank for Tencent Holdings, which owns Qzone and saw an 85% increase in its second quarter net profit this year compared to 2008 despite the economic downturn.

From virtual clothes to epets, Asians spend an estimated $5 billion a year on virtual purchases via websites such as Qzone, Cyworld in South Korea and mobile-phone based network Gree in Japan, according to Plus Eight Star. That’s about 80% of the global market for virtual products, it says.

Of the virtual sales in Asia, about 80% comes from the sale of such items as equipment for online games such as rods for GREE’s fishing game Tsuri Star 2. The rest comes from purchases for avatars on networking sites.

East Asian societies are also very status conscious. Players are loath to be the only avatar without the latest gear and Asians are perhaps more willing than counterparts in the west to buy products to update their avatars or social space. REUTERS

Funds From The Initiative Will Be Used For Charity

tudents to bid for a day out with CEOs

Shruthi Balakrishna | TNN


Bangalore: Imagine bidding for Infosys mentor N R Narayana Murthy or Biocon Ltd CEO Kiran Mazumdar Shaw just to spend a day with them. The students of Indian School of Business (ISB) are willing to pay any price to spend a day with their favourite CEO through a unique initiative called ‘Shadow a CEO’.

The Hyderabad-based ISB aims to connect the CEOs and students through the initiative. Participating students will bid in an online auction. Funds raised from the auction will go for a social cause. This will fulfil two aims—involvement of corporate India in a social cause and a networking opportunity between current and future business leaders.

In case a student fails to win the bid, then the money will be returned. ‘‘It is designed by the students to combine a business goal and a social cause. It allows students to understand the importance of doing business that not only helps an individual but society as well,’’ ISB dean Ajit Rangnekar told TOI. The initiative has been designed to participate in the ‘Joy of Giving Week’, a national movement.

‘‘It has attracted a lot of appreciation from the industry leaders and we are getting a high rate of confirmations. We are on 20 now and we expect to reach 30,’’ Ajit said.

How does the bidding work:
Bidding process will include an open auction online for all ISB students

Bidding will be open for a limited period. Top three bidders for each CEO will be shortlisted

They will be asked to give a Letter of Intent on why they are bidding for a CEO

A panel comprising faculty and administrative members from the ISB will review the letters and decide on who is the most deserving student to ‘shadow the CEO’

After the winners are declared, the CEO can match the amount raised by students or give more. Funds raised from the auction will be given to an NGO of the CEO’s choice for a social cause. Date for bidding process is from September 21 to 23

Ashish Pedaprolu, student of the ISB, is hoping to win the bid. “I would love to spend a day with N R Narayana Murthy but I am open to with any CEO from the IT industry.” How is he arranging money for the auction? “I am trying to get the money from professional and personal contacts,” Ashish said. Arpita Shanker, who is also participating in the auction, too wants to bid for NRN. “He is a self-made man. I want to learn how to be a CEO and yet remain humble. I also read his book Better India, Better World and loved it. It would be great to spend a day with him.”


Friday, May 15, 2009

These kids pooled in books to set up library

Anahita Mukherji I TNN

Mumbai: Who says you need to be an adult to be an entrepreneur? Two 11-year-olds from a Goregaon housing complex, younger siblings in tow, pooled in their private collection of storybooks and started a library in the building garage. They opened shop on Monday. Within two days, they made a profit of Rs 500. Like any good businessperson, they plan to plough the profit back into the business and buy some more storybooks for the library.

Eleven-and-a-half-year-old Yash Harlalka and his neighbour Advika Agarwal, also 11, came up with the idea while sitting together in their schoolbus before the vacations. They set up the library, called Land Words, with Advika’s sister Aneeka (8), Yash’s brother Ayush (9) and his cousins, Shubhangini and Vanshika Halen.

They advertised their service through a handpainted poster at the entrance of the building, as well as handmade bookmarks that the kids distributed door-to-door to the 100-odd families in the housing complex, informing them that the library was open between 3 pm and 7 pm on weekdays, 2 pm to 3 pm on Saturdays and was closed on Sundays.

In addition to a bookstand procured from Advika’s father’s office, the library has chairs, a mattress and wall hangings from the children’s homes. “My five-year-old daughter enjoys visiting the library,’’ says Dr Arshi Tank, a resident of the complex.

The library, which runs out of the Advika’s grandmother’s garage, is dismantled by the time the family car moves in for the night. The children have maintained a meticulous log book of all those who have borrowed books. The rentals range from Rs 2 for the really tiny books to Rs 25-30 for the big ones with lots of stories in them. There’s a Rs 5 surcharge for those who want to renew the books after five days.

In addition to the vast collection of children’s literature, the library also includes magazines belonging to the children’s parents, as well as books on spirituality and acupuncture from their grandparents.

They’ve also included a few value-added services. In addition to the seating arrangement for those who want to drop by and read a book, they even personally read out stories to children who are too young to read. Yash, Advika, and their siblings are all voracious readers. Advika also writes short stories which she hands out to her classmates in exchange for stationery.

Other kids in the neighbourhood have volunteered to donate their old books to Yash and Advika. These books will not be added to the library, but will be donated to an orphanage in Lonavla.

ENTREPRENEURS IN THE MAKING: (From left) Aneeka, Yash, Advika and Ayush at their makeshift library in Goregaon

Sunday, April 5, 2009

Hoping to make iPhone toys as a full-time job

Jenna Wortham


Is there a good way to nail down a steady income in this economy? Try writing a successful program for the iPhone.

Last August, Ethan Nicholas and his wife, Nicole, were having trouble making their mortgage payments. Medical bills from the birth of their younger son were piling up. After learning that his employer, Sun Microsystems, was suspending employee bonuses for the year, Nicholas considered looking for a new job and putting their house in Wake Forest, NC, on the market.

Then he remembered reading about the guy who had made a quarter-million dollars in a hurry by writing a video game called Trism for the iPhone. “I figured if I could even make a fraction of that, we’d be able to make ends meet,” he said.

Nicholas, 30, had never built a game in Objective-C, the coding language of the iPhone. So he searched the internet for tips and used them to figure out the iPhone software development kit that Apple puts out.

Nicholas decided to write an artillery game. He sketched out some graphics and bought inexpensive stock photos and audio files. For six weeks, he worked “morning, noon and night”. After finishing the project, Nicholas sent it to Apple for approval, quickly granted, and iShoot was released into the online Apple store on October. 19.

On the first day itself, iShoot sold enough copies at $4.99 each to net him $1,000. He and Nicole were practically “dancing in the street,” he said.

In January, he released a free version of the game with fewer features, hoping to spark sales of the paid version. It worked: iShoot Lite has been downloaded more than 2 million times, and many people have upgraded to the paid version, which now costs $2.99.

To people who know a thing or two about computer code, stories like his are as tantalizing as full of promise. But the chances of hitting the iPhone jackpot keep getting slimmer: The Apple store is already crowded with look-alike games and kitschy applications, and fresh inventory keeps arriving daily. For every iShoot, which earned Nicholas $800,000 in five months, “there are hundreds or thousands who put all their efforts into creating something, and it just gets ignored in the store,” said Erica Sadun, a programmer and the author of The iPhone Developer’s Cookbook.

The rush to stake a claim on the iPhone is a lot like what happened in Silicon Valley in the early dot-com era, said Matt Murphy, a partner at the venture capital firm Kleiner Perkins Caufield & Byers who oversees the iFund, a $100 million investment pot reserved for iPhone applications. “It’s still early days for mobile development, but those days are coming.” NYT NEWS SERVICE



IDEATING: Vassilis Samolis (left), Kostas Eleftheriou and Bill Rappos (right) wrote a program called iSteam, which fogs up the face of an iPhone like a bathroom mirror. They made $100,000 from the program

Sunday, January 18, 2009

Start-up firms march into IIT to woo freshers

Hemali Chhapia I TNN

Mumbai: Head hunters from start-ups are usually elbowed out by the bigwigs during placement season at Indian Institutes of Technology, when fancy compensation figures win the day. But this time, it’s a different story.

Of the 600 students graduating from IIT-Bombay this year, more than 140 have signed up for interviews to be taken by new venture firms on Sunday.

Sixteen of these young firms, including Maharaja Games, Pagalguy.com, IWeb, Hidden Reflex, Redb-us.in, Zice and Naaptol.com, landed at the Powai campus on Saturday. And, their aim was to convince the freshers of how important they would be for the development of these newventure groups.

Cyrus Vesvikar from the institute’s entrepreneurship cell said, “IIT-Bombay students placed in these start-ups will be directly absorbed in the core teams of the companies, which will offer them an opportunity to take decisions at the highest level and face the toughest of challenges, something that a big firm will not let them do at the beginning.”

Akash Dongre, COO of Mofirst, said, “Freshers will become industry-ready right from the first day as they will face the toughest of the challenges. We basically save the time big firms spend on training.’’

For the start-up firms, Vimal Shah, head of Animedia
said, having IIT students work there would definitely enhance their performance.

And to top it all, the startups are offering not just toplevel posts to the freshers, but also quite a decent compensation package. “This year, we plan to get almost 40 students placed in new firms. That would be tough considering that most of the freshers have already been placed by now. But looking at the enthusiasm among students, we feel we would get as many to join lesser known companies,’’ Vesvikar added.

Teens get a taste of business

Anahita Mukherji | TNN

Mumbai: Those who launch a new business during an economic downturn can hardly expect their product to sell like hot cakes—unless, of course, the product is hot cakes. A bunch of Class XI commerce students in the city has got into the entrepreneurial spirit, and is gaining hands-on business experience running its new company, which manufactures brownies.

The 16-year-old commerce students from RN Podar school, Santa Cruz, put their heads together to create their own company, complete with a CEO, board of directors and shareholders. The five directors pooled in their own money, a grand total of Rs 3,750. They generated an equal amount by selling shares in the company to their classmates. “We used the money to set up Brownies Inc. We bought two ovens and an egg beater, and rented a classroom from the school at Rs 200 per month. That’s where we manufacture the brownies,’’ says CEO Arnav Singh Bisht.

The purchase team buys the ingredients, the production team bakes the brownies, and the sales team walks around school with trays of the finished product, priced at Rs 10 a piece.

Brownies Inc is part of the company project begun by Junior Achievement (JA), an organisation that works with schools nationwide to give students a taste of the outside world, so that they’re better prepared for choosing a career. JA has started a similar project in a school in Chandigarh, and another one in Bangalore. The board of Brownies Inc initially consisted of both students and a few teachers and members of JA. But within the first few weeks of the company’s formation, school authorities pulled back and let students take their own decisions.

“The company is doing really well, but the most important part of this exercise is for students to develop interpersonal skills as well as to grasp issues related to scaling up a company and maintaining quality control,’’ says Ramesh Krishnamurthy, who heads JA’s western region operations.

A few days ago, the two-month-old Brownies Inc suffered a setback. “A whole batch of brownies didn’t turn out well, and we had to discard it,’’ says one of the directors, Risheeta Agrawal.

BROWNIE COMPANY Student-run firm has plans to diversify into carrot cake

Mumbai: Brownies Inc, a company launched by Class XI commerce students of R N Podar school, Santa Cruz, recently survived its first setback, when an entire batch of brownies had to be thrown away, resulting in a loss. “We decided to discard them all the same and write off our loss, because we didn’t want to compromise on quality. And we thought it would be unethical to provide our customers with a product that wasn’t good enough,’’ says Brownies Inc’s 16-year-old CEO, Arnav Singh Bisht.

For production team member Haren Paul Rao, the recent mishap was heart-breaking, especially as the brownies are baked during the students’ free periods.

The company has been a huge success at the school, as students of all ages readily fork out their pocket money on the freshlybaked brownies. The school even hired Brownies Inc for its annual day function, buying brownies from its students.

Encouraged by its success with brownies, the company is considering branching out into carrot cake as well. “Many students are weight-conscious, and one can’t stay slim eating brownies everyday. So we thought carrot cake may be a good idea, especially since carrots are cheap,’’ adds Risheeta.

Working for Brownies Inc is no labour of love—students in all the departments of the company, except the board of directors, receive a salary ranging from Rs 10 to Rs 20 per session.

Podar school principal Avnita Bir says the exercise has helped students get hands-on experience of what they read in their textbooks. “They have a better understanding of what it means to form a company, raise capital and sign MoUs,’’ she adds.

The young entrepreneurs of Brownies Inc are very attached to their creation. “We’ll continue working for the company even in Class XII. Eventually, we may sell the company to our juniors,’’ says Risheeta.


SUCCESS IS SWEET: Brownies Inc entrepreneurs display their product.

Tuesday, December 23, 2008

JOURNEY OF A DIFFERENT KIND

This train will teach them basics of business

Madhavi Rajadhyaksha I TNN


Mumbai: Passengers: 18 to 25-year-olds
Route: Delhi to Kanyakumari
Duration: 18 days
Destination: Entrepreneurship and leadership
Unlike most train journeys, passengers hopping onto a 16-bogey train at Mumbai Central on Wednesday aren’t waiting to reach any destination. For the youngsters on board, the journey itself is their destination. The excursion organised under the aegis of the Tata Jagriti Yatra aims to inculcate entrepreneurial skills among the 350 youths on board.

From the dabbawalas of Mumbai to the barefoot college in Tilonia, Rajasthan, to Anand in Gujarat, the group will explore innovative ventures, interact with role models and get a dekko into social entrepreneurship.

“The aim is to get the youth to connect with the genius of India and the focus is on enterprise-led development. Today, enterpreneurship and enterprise are no longer a luxury, but a necessity and we hope to spark interest in the youth,’’ said Shashank Mani, an ex-IITian and one of the founders of the concept, adding that they hope to make this an annual feature. The group had organised a similar trip called Azad Bharat Rail Yatra in 1997 and many of them felt their experience deserved to be shared with others. That’s how the seeds for this journey were sown.

Explaining that the format wasn’t a classroom session but a see-and-learn experience, another organiser Raj Krishnamurthy offered an insight into their itinerary. “There will be conferences inside the train and stopovers to meet role models such as scientist R A Mashelkar (who formerly headed the Council of Scientific and Industrial Research), Dr M S Swaminathan who is known as the ‘father of the green revolution in India’ and Ela Bhatt who founded SEWA,’’ he said.

The youths would get a peek into successful enterprises, be it the Kuthambakkam village in Chennai which is acclaimed as a ‘model village’ or the sprawling Technopark in Thiruvananthpuram which is a hub of IT offices. The eclectic bunch will also participate in six televised panel discussions which will dwell on topics such as ‘poverty to self-help’ and the ‘power of one’.

They received applications from 10,000 youngsters and finally selected 350, including 25 foreigners. The youngsters who are waiting to hop on are predictably high on adrenaline. Suman Chennamaneni (24) from Hyderabad couldn’t have hoped for a better platform. An arts and law graduate who has dabbled in social ventures since he was 21, he said, “I recently interned with an NGO which promoted small entrepreneurs such as plumbers and electricians through the internet. I am keen to learn how social models are scaled up and made sustainable.’’

Breach Candy resident and dentist Neha Parekh is excited about interacting with likeminded youngsters. Summing up the excitement is a blog post by a youngster from Chennai, Abhishek Seth, who says he expects the trip to be “a turning point in his life’’. They may just throw up many success stories in the making.


Sunday, November 9, 2008

Becoming a leader IN THE CLASSROOM OF LIFE

Akanksha founder Shaheen Mistri describes her 20-year-long journey from teaching a group of kids in a small shanty in Mumbai to the Teach For India movement

When I was 18, I walked into a slum and started teaching. I had spent my life outside of India, graduating from a small, elite girl's private school in upmarket Greenwich, Connecticut, in the US. Back in India, curious, I walked into a Mumbai slum and was confronted by the deep inequity of a world where some kids attended top-notch academies while others just didn’t go to school at all.

Entering the slum on that first day, I was prepared to feel disturbed, sad, and angry. I wasn’t prepared for the bright eyes filled with untapped potential. Within a few days, without language, coming from a very different world, I found a base in a little home and started teaching.

Those days stay vivid in my mind; sitting on the floor of a 10 foot loft in Shakeel’s shanty with a growing group of kids of all ages around me. So many memories—cutting out alphabet ladders to teach three year-old Sameena, who is now in Sophia College; seeing a young girl on fire and rushing her to the hospital; looking for space to teach in a school and getting turned away by a nun who felt that her students would get diseases from our children—the idea is good, she said, but “revolutionary”.

And then, after 20 schools said no, finding our first classrooms in the Holy Name School. My days were immersed in thinking about children—trying to understand who they were, making sense of the communities that they lived in, discovering the deep prejudices that exist in society against them, trying to learn ways to make them engage in learning.

For the next 18 years, we built an organization, Akanksha, “aspiration”, that grew out of those days of teaching. Akanksha’s deep belief that every child has immense potential has created opportunities for thousands of less privileged children. And from our teachers, and from our children, I have learned my most significant life lessons. Take Rajshree, whose unshakeable belief in Sumeet through a decade of work where he tried to commit suicide several times, juggling huge home problems with repeated attempts to pass the SSC who today embarks on a journey to run his own NGO and has been nominated as MTV’s youth icon. Or Niki, who has rented a tiny home in the slum which is an after-school center for extra help. Or Nahida, one of our Akanksha alumni, who today teaches three year olds through song and dance. Or Anjali, whose kids after being relocated two hours away still commute to come to her class.

Often when I have thought I understood something, the Akanksha children have taught me that I really hadn’t. I don’t think I understood what it means to persevere until I saw a 17 year old Akanksha child get sexually abused in her home, have a baby, give it up for adoption, and come back to school. I don’t think I understood courage until I saw an Akanksha teenage boy stand up in a group of kids and parents and break down saying to his mother how much he loved her and had never told her that. I don’t think I understood what it meant to give until our student Latif passed away a few months ago; his grandfather told me that he had given him Rs 14,000—all his savings—to go to a private hospital. Latif quietly put it back, going instead to a government hospital.

From countless teachers and children I have seen how what matters the most is connecting, caring, believing in another person.

And then, a couple of years ago, I began to feel increasingly overwhelmed. As the stories of success with children increased, so did the realization that real change needs to be systemic; that quality needs to be scaled to reach every child. On one hand was this grave, overwhelming inequity and on the other was a huge dearth of talented minds addressing the issue.

The idea of Teach For India began through a conversation with Anand Shah, a friend and thought partner, who spoke about his vision for a domestic service program in India that got young Indians engaged in changing the country. A small group of us from Indicorps, The Piramal Foundation and Akanksha started talking about what a “Teach For India” would be.

Through that time, four Teach For America alumni came through Akanksha. I was struck by their mission, by their deep commitment to end inequity. These young people—some of the brightest—had chosen to spend two years in incredibly challenging classrooms.

A few months later, I met Wendy Kopp at the Teach For America office in New York. We talked about children and India and inequity and I left asking her to come to India. Intrigued by the possibility of some form of Teach For America’s idea working elsewhere, Wendy spent a few days in India-in schools, on campuses, with business and education leaders.

Wendy left and our discussions intensified. We worked closely with McKinsey and Co to e x a m i n e the feasibility of Teach For India in a context so vastly different from the U.S. At the end of the three month long study, we were convinced that Teach For India was not only possible, but critical.

The challenges of building the Teach For India movement are immense. The idea seems preposterous to many. Why would the best minds in the country teach? How can a force of a few thousand idealist, untrained young people bridge the stark achievement gap in our struggling schools? Why would corporate India (especially in the current financial crisis) encourage their best talent to go for two years? Teach For India will answer these questions with action. Already, applications are pouring in. Already, the most visionary companies are signing up. And we know that our first hundred Fellows, trained and supported, will define a new way of teaching, a new way of learning, a new way of being.

So, Teach For India now seems the right thing to do. For TFI’s fellows, this is a chance to study leadership in a classroom of life. For TFI’s students, this is a chance for them to bridge their staggering achievement gap, feel cared and valued and experience meaningful learning. And as the movement gains momentum and grows across the country, we will move closer to our vision that one day, every child across India will attain an excellent education.