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    5 IIM Graduates Who Quit Job To Become Entrepreneurs

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    Charu Modi
    This document summarizes challenges faced by startups in India, including regulatory roadblocks in areas like company registration, banking, shutting down businesses, e-commerce, mobile services, social media, and payments. While India has strengths like cost competitiveness and a large market, it lags countries like the US and Singapore in areas like ease of doing business, and ranks low on corruption indices. Over-regulation has negatively impacted sectors like e-commerce, telemarketing, and mobile value-added services.

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    5 IIM Graduates Who Quit Job To Become Entrepreneurs

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    Charu Modi
    204 views19 pages
    This document summarizes challenges faced by startups in India, including regulatory roadblocks in areas like company registration, banking, shutting down businesses, e-commerce, mobile services, social media, and payments. While India has strengths like cost competitiveness and a large market, it lags countries like the US and Singapore in areas like ease of doing business, and ranks low on corruption indices. Over-regulation has negatively impacted sectors like e-commerce, telemarketing, and mobile value-added services.

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    5 IIM Graduates who quit job to become entrepreneurs

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    5 IIM Graduates who quit job to become entrepreneurs

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    This document summarizes challenges faced by startups in India, including regulatory roadblocks in areas like company registration, banking, shutting down businesses, e-commerce, mobile services, social media, and payments. While India has strengths like cost competitiveness and a large market, it lags countries like the US and Singapore in areas like ease of doing business, and ranks low on corruption indices. Over-regulation has negatively impacted sectors like e-commerce, telemarketing, and mobile value-added services.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    204 views19 pages

    5 IIM Graduates Who Quit Job To Become Entrepreneurs

    Uploaded by

    Charu Modi
    This document summarizes challenges faced by startups in India, including regulatory roadblocks in areas like company registration, banking, shutting down businesses, e-commerce, mobile services, social media, and payments. While India has strengths like cost competitiveness and a large market, it lags countries like the US and Singapore in areas like ease of doing business, and ranks low on corruption indices. Over-regulation has negatively impacted sectors like e-commerce, telemarketing, and mobile value-added services.

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    Attribution Non-Commercial (BY-NC)
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    Download as pptx, pdf, or txt
    of 19

    5 IIM graduates who skipped placements for start-ups

    18 Mar, 2013 ET Bureau; Devina Sengupta & Sreeradha D Basu

    In odd lot of students at the premier Indian Institutes of Management has decided to make way for their classmates jostling for jobs in a tight economy. Some of them from the 2013 batch have opted out of placements to sell sanitary napkins to rural India, start a network for photographers, and make algorithms that predict the market. The entrepreneurial road is less travelled, but the drive is strong. It may not be the best time to walk out on campus placements, with the economy on the slouch, but students feel their ideas cannot wait for long as others may pick them up. Jostling: Push

    Venkat R

    Institute: IIM Ahmedabad Venkat R; Age: 26


    Start-up: Focaloid. Connects photographers with clients for assignments Investment: Rs 5 lakh from CIIE and Rs 4 lakh bootstrapped along with 2 other partners Venkat R started an online firm called Focaloid, where photographers get assignments, and clients pay the start-up. Venkat has received a seed fund of Rs 5 lakh from the CIIE and has raised another Rs 4 lakh along with two other friends who have just quit regular jobs. CIIE: Centre for Innovation Incubation & Entrepreneurship

    Gaurav Midha

    Institute: IIM Lucknow Gaurav Midha; Age: 26


    Start-up: Data analytics firm Beyond Numbers Investment: None yet

    Gaurav Midha's start-up partners took up job offers during placements at IIM Lucknow, but Midha decided to take it forward. Midha, along with two batch mates, started a data analytics firm, Beyond Numbers, within months of joining campus.
    But he is the only one who's stuck to the course - his dream kept him going. "Data analytics is still a relatively new concept in India but it's been growing at 20%-25%. I want a share of that pie," he says.

    Niranjan KM

    Institute: IIM Indore Niranjan KM; Age: 23


    Start-up: Selling sanitary napkins to rural India

    Investment: Needs Rs 1 crore, of which Rs 25 lakh has been approved by Tamil Nadu government
    Niranjan KM plans a start-up to manufacture and sell sanitary napkins in rural India. He had earlier thought of being a candy maker or mineral water producer but realised the market potential for sanitary napkins was big. Niranjan will start the plant in global manufacturing hub Tirupur. "The big companies see money in the urban areas, while I plan to concentrate on rural areas. I can sell each napkin for around Rs 3-4 which is about half the cost for such a product from an FMCG major," he says. Niranjan's research showed rural women know little about sanitary napkins and his marketing campaign includes raising awareness through skits during festivals.

    Ajusal Sugathan

    Achin Agarwal

    Institute: IIM Bangalore Ajusal Sugathan & Achin Agarwal Age: 24


    Start-up: Hedge Quants Specialises in quantitative trading and investment strategies across Indian equities, fixed income, currency, volatility and derivatives Investment: Tied up with Kolkatabased brokerage firm Shivmangal Securities on a profit sharing mode "We have developed seven to eight models and our simulation tests show we can predict market movements," says Ajusal Sugathan. "Unlike the West, Indian markets do not use the algorithm-based trading method, but our live simulations have shown good results," adds Sugathan.

    Why India is not the best place for startups 31 May, 2013
    Regulatory roadblocks are emerging as the biggest challenge for scores of entrepreneurs catering to the growing demand for innovative services from Indian consumers.

    Let's take a look at the top few issues

    The banking issues


    Registering a Company: Takes almost a month in India, compared to just a week in the US, or just 3 days in Singapore. Opening a Current Account:

    Requires 6-7 set of documents, often certified by a CA. Banks decline, if a startup doesn't possess a service tax or VAT registration.

    Hutting shop is very difficult 31 May, 2013


    Shutting Down An entrepreneur needs to present a winding up petition to the court, appoint liquidators, meet all creditors, distribute company's assets and wait for court hearings, which may take years. Bribery In a global index that ranks countries with the least amount of corruption, Denmark ranks 1st, Singapore 3rd and India 94th

    Policy related issues for Web and Mobile industries


    E-Commerce Policy Hurdle: Ban on foreign direct investment in companies engaged in retail ecommerce Affected parties: Online retailers who want to raise funds from foreign investors Impact: Has led to layoffs, closure and acquisitions of some e-commerce companies who were unable to raise follow on venture capital funding

    Mobile Value Added Services Regulation: Ban on bulk SMSes, over-regulation of Do Not Call registry Affected Parties: Has impacted bulk SMS providers, telemarketing agencies, mobile value added service providers, daily deal startups Impact: Has led to layoffs, closure, and acquisitions of many mobile value added services companies. H

    Way behind in technology, Way ahead in intolerance


    Social Media Policy Hurdle: Websites which carry user generated content can be pulled up in court. Affected parties: Social media content websites Impact: Very few new ventures being launched Mobile Remittances & Digital Payments Policy Hurdle: Ban on encashing currency by users of mobile money products. Affected parties: Financial services startups, telcos and mobile money startups Impact: Hampering launch of new business models that revolve around online payments

    Indias strengths as a market


    Cost competitiveness Skilled workforce

    Large domestic economy


    Access to financing Keen interest from foreign investors Strong fiscal policy Policy stability & predictability

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