The Indian School of Business (ISB),
HyderabadRanked 13th in the Global Top MBA Rankings by the Financial Times,
London,UK- The ISB to include the course as selective option for studentsHave you ever thought of setting up a venture with a startup fund of just Rs 1,000? Students of Indian School of Business, in an attempt to kindle their entrepreneurial skills, ran innovative businesses in the campus and churned profits, that too with just Rs 1,000.
Party dancing workshops, gift a rose, bid for a dinner date, cartoon drawing, book binding and spa services were among the business ventures that dotted the campus, during the initiative, called Plannning an Entrepreneurial Venture.
Hundred students in teams of three and four each (32 teams) participated in the session to generate revenues of Rs 3, 50,000 and over Rs 1, 00,000 profits within a week.
As the initiative turned a success in its first attempt, the B-school has decided to add the course as a selective option for students in the one-year MBA programme. Students will be provided Rs 1,000 to plan and run a business venture and create wealth within a week.
While no additional startup money can be used from other sources, the teams are allowed to reinvest the money earned to grow their ventures. At the end of the week, the teams would return the Rs 1,000 used as startup money and part with half their profits, which will be used to facilitate other campus activities such as competitions and charity events.
“The main takeaway for students here was that any business idea should ideally be first to market, and one should build business ideas that are workable. The key is to allow students build businesses on realistic terms with an innovative proposition and enjoy it at the same time. In fact, two to three ventures ran into losses,” said professor Subromania Sarma, senior director at PGP Projects.
The students presented their venture experience, statement of accounts and three key learning’s each. “The school has been focusing on inculcating entrepreneurial skills and the core part of the course is aimed towards it. This course will help students to reach out to experts, mentors and venture capitalists with a business plan,” said professor K Ramachandran- chair professor in Family Business and Wealth Management, Indian School of Business.
Students started their business three days after getting the startup capital after planning and managing the resources. For your kind information:
Round 2 deadline – Nov 30th for applying to the one year programme at the Indian School of Business is on Wednesday, November 30, 2011 (IST 23.59 hrs) http://pgpapp.isb.edu/
Please note: The above deadline is only for Indian passport holders, for International passport holders, Jan 15th is the deadline to apply to the ISB.
Associate- Admissions & Financial Aid
Indian School of Business
Hyderabad 500 032
Tel : 040-23187403,
Mbl : +91-9949292946