TATA FIRST DOT NEN WORKSHOP

TATA First Dot powered by NEN organized a workshop on Business Model Development at International Management Institute, New Delhi on 15th November 2014. Five students namely Jobin Abraham (16038), Jorawar Singh (16039), Rajat Wason (15079), Sahil Mudgal (15091) and Dishant Passi (15056) from Computer Science & Engineering Department of Dronacharya College of Engineering, Gurgaon attended the workshop.

‘TATA First Dot, powered by NEN’ is India’s first national mentoring and recognition platform for student start-ups. A unique initiative that promotes mentors and highlights India’s most dynamic and youngest entrepreneurs, TATA First Dot is run by the collaborative efforts of TATA Group and NEN Trust.

The TATA First Dot Powered by NEN workshop on “Startup Fundamentals: Opportunity Assessment and Business Model Development” was designed to support current and aspiring student entrepreneurs build high-potential business ventures. The workshop armed participants with tools and techniques to help them critically analyze business ideas; assess market opportunities; develop initial business models, and understand various financing options.

The basic theme of the workshop was - That even the most brilliant ideas can fail if not backed by proper planning and execution. The workshop focused on points like

1. Idea-generation techniques

2. Systematic, framework-based assessment of market and industry,

3. Defining value proposition for customer,

4. Business model development,

5. Understanding what investors look for in startups,

6. Insider tips and guidelines for winning the TATA First Dot Powered by NEN Awards

The workshop started with an inauguration session. Then the exercise session was organised in order to inform the students on how to apply opportunity frameworks to their business plan in order to make it more feasible. The next session was on another exercise for evaluating their respective business model.

In the post lunch session, it was discussed on how to turn business models into fundable business plans. Mr. Praveer Sinha, CEO of Tata Power Delhi Distribution Limited (TPDDL) delivered a talk on entrepreneurship and related challenges. He pointed out the basic necessities of successful entrepreneurship and what makes a business model successful.

Overall, the event was very informative and helpful. The participants got expert advice on formulation of business plans and how to execute them. The workshop provided guidelines regarding feasibility of business plans.