Incubatees Meet: Entrepreneurship needs innovation
Entrepreneurship needs innovation as much as it does resources, but perhaps what it needs most of all is the access to support functions, mentorship and resources that would provide new enterprises a springboard to stability. It is true that there is no dearth of unique ideas that may solve a problem, target a certain market segment or create a successful and profitable business, but the journey on that path is long and arduous. A helping hand is welcome and often the only means of survival-this is where the role of incubators comes in. IIMCIP support incubation not only provide requisite support but act as the bridge between startups, incubators, corporate entities, investor communities, academia, and the government so as to create the most facilitate environment for business nurturing and growth.
Keeping all this in mind IIMCIP organized the first incubatee meet at IIMCIP campus. Nearly it was full day program where incubatee shared their viewpoint to solve the problems of the start-ups. Prof. Chandradeep Mitra chaired the session, throwing lights in innovation and communications both tools are necessary to run a successful enterprise.
Prof. Larry William Cox – Associate prof and Entrepreneur at Pepper Dine University, Graziadio (School of Business and Management) spoke about the creativity and innovation that can solve problems for the start up. According to him “Entrepreneurship is, by definition, a creative activity”. Entrepreneur needs to be more creative and innovative, they needs to filter the ideas and get the actual one to reach the zenith. According to him Entrepreneurs should discover the creative preference by experiencing thing, choosing between options, optimizing, conceptualizing. The Entrepreneurs should face the fears (fears leads to Failure, Embarrassment, Ambiguity, and Rejection at last the utmost thing is Success). Any entrepreneur should picture the problem, reframe the problem, and then image for the solution.
Some key points that were highlighted in the program are:
- Need to surround yourself with experts in our field . Presenting the enterprise in US & UK markets.
- Make noise in the media: Branding and marketing communication should be strong enough so that the image is uplifted via BTL, ATL, TTL Marketing
- Need to choose the board wisely: there are many policies of state and central government which the start-up needs to choose and think. They need to present in a very innovative manner in perspective of funding.
- Able to measure impact: stating clearly the investors about the social impact the enterprise is creating in terms of money, innovation etc.
- Managing team: Managing team and retainership is a big challenge. Henceforth leadership and innovative skill always create a great impact for the enterprise.