Innovation and Startup Ecosystem Enablers.pptx

startup and innovation

1. Innovation and Start-Ups Ecosystem Enablers Dr. Rajesh H. Kulkarni

2. https://www.youtube.com/watch?v=vTZ7N53M1bs https://www.youtube.com/watch?v=kD5dRBh-6Lg https://www.bleetech.in/

3. Why entrepreneurship is important career choice and why it is needed now? Typical journey of an entrepreneur and framework to help in this journey Characteristics of Entrepreneur Idea Validation Design Thinking Investor Pitch Practical Approach of starting your own enterprise (start-up) Co-Working spaces and Incubation Centers Characteristics of Start-ups and founders Expectations of an angel investor Funding agencies Legal and regulatory Procedures for registration Journey of start-up ( Ignisnova ) – case study . Learning Outcomes

4. entrepreneurs: [ ahn-tr uh -pr uh - nur , - n oo  r] noun: one who organizes, manages, and assumes the risks of a business or enterprise Intrapreneurs: [ in- tr uh - pr uh - nur , - n oo  r] noun : an employee of a large corporation who is given freedom and financial support to create new products, services, systems, etc., and does not have to follow the corporation's usual routines or protocols. Or entrepreneurs within existing organization Innopreneurs : [ in- no h - pr uh - nur , - n oo  r] Noun: Innovative disruptive entrepreneurs Entrepreneurs / Intrapreneurs / Innopreneurs

5. Entrepreneurs will be tasked with finding the solution, for eg :- Healthcare (how, where and what of vaccine) How vaccine will be manufactured and delivered in mass scale? Finance and economy (New models / new ways) What will be financial disruptive innovations which will help quick recovery? Logistics, transport, tourism How will have efficient transportation considering social distancing Why Entrepreneurship matters now than ever?

6. Entrepreneurs are not born, but are trained, groomed, motivated and mentored – David Mccleland Characteristics of an Entrepreneur Traits Need for achievements Autonomy Risk taking / Managing Risk Creative innovation Drive and determination Belief in oneself http://www.get2test.net/get2test.html Competency Initiative Effective Planning Influence others Empathy Motivation comes from Personal characteristics Environment Business Idea Entry Barriers Attitude Desire to wait Lack of confidence Approval of family

7. Journey of a Start-Up IIC Source – Sunshot Incubators

8. Product Development Process

9. Idea Validation Validation . (n) – the process of gathering evidence and learnings around business ideas through experimentation and user testing, in order to make faster, informed, de-risked decisions Source – Board of innovation

10. Validation – Step by Step Source – Board of innovation Assumption : something you believe to be true without evidence to back it up Hypothesis : Educated guess about what you expect in given experiment

11. Validation – Definition of Problem Statement Source – Board of innovation

12. Design Thinking – Double Diamond Source – Kayla Hefferman

13. POC / Prototype / Pilot / Production

14. Business Model Canvas Source – Business model foundry

15. https://ipindia.gov.in/

16. https://ipindia.gov.in/SIPP.htm

17. https://ipindia.gov.in/SIPP.htm A.Documents required 1. Incorporation Certificate 2. LLP Agreement ( in case of LLP) 3. Designated Partner's/Director's details ( in attached excel below) 4. scan of signed & stamped Authorisation letter on LLP/Co's letterhead ( format attached below) B.Questions 1. What problem startups are solving ? 2. How does a startup propose to solve the problem? 3. What is the uniqueness of your solution ? 4. How does your startup generate revenue ? 5. Brief note about the nature of business highlighting how it is working towards innovation,development or improvement of products or processes or services 6. Logo & tagline of Company 7. Photos of product

18. https://dpiit.gov.in/

19. https://www.startupindia.gov.in/

20. Elevator Pitch A quick one liner summary that combines your vision / product and mission of your company Short and memorable Relatable Momentum / Traction / Expertise your key numbers Founders achievements Press / awards / pilots Market Opportunities Size of market / Customer base Problem and Current Solutions What need you fulfill Other solutions Essentials of Investor Pitch

21. Your current solution Features of your product or service Business model Canvas Key revenue streams Market Approach and strategy How you grow your business Team and Key stake holders Investors / advisors / mentors Financials Competitions Your ask !!!!  How much you want? Roadmap of spend Essentials of Investor Pitch

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29. High-speed internet, photo-scanning, conference rooms pay per use plans. Ideal for small teams that need 24*7 access Dynamic seat allocation system ideal for freelancers and entrepreneurs Networking events and wellness sessions that are a regular feature to boost motivation and enhance creativity Eg : Wework , innov8, 91springboard, Ignition Coworking Spaces

30. Support for business development Initial growth funds, network and linkages lab facilities, mentoring and advisory support Speedup the growth and success IIT Mumbai & Delhi, T-TBI Kerala, Ignition Incubation Center Incubation Center

31. Ecosystem – from idea to reality or from concept to product Support for business development Initial growth funds, network and linkages lab facilities, mentoring and advisory support Speedup the growth and success IIT Mumbai & Delhi, T-TBI Kerala, Ignition Incubation Center Incubation Center

32. responsibility is 10 times more all decisions your responsibility committed to the problem statement You should be convinced to your problem statement It should personally affect you Characteristics of Start-up Entrepreneur (before…)

33. get some exposure, training, internship Work if possible, in a start-up Work under bosses with varied exposure Grab any work allotted Be flexible Stay late, gel well with the team Characteristics of Start-up Entrepreneur (before…)

34. Enthusiasm  Always appear upbeat if you get down the entire start-up gets affected People will get affected by your appearance. Your behaviour impacts everyone, Always stay positive Characteristics of Start-up Entrepreneur (after…)

35. Support system- people with experience update them about your activity Mock sessions for pitching, client talk Bring industry guests, Brainstorm Characteristics of Start-up Entrepreneur (after…)

36. Idea versus execution- idea -20-25%, execution-75-80% processes are the key to success Pricing plan, prototype, POC - ready Differentiating factor of Start-up with any other business is scalability Vision of the start-up should be grand The Success Mantra…

37. scaling up or growing differentiator is process orientation process orientation is the most boring part in the start-up journey but the most important Persistence- how well you deal the mundane tasks which are not so exciting It is not so exciting to run the business The Success Mantra…

38. Replicate- chain of restaurants challenges are different from one restaurant Iteration/pivoting/agility- improvise on model continuously Persistence- how well you deal the mundane tasks which are not so exciting The Success Mantra…

39. Angel investor can also be your guide Find someone who understands you and your product Gradually he gets committed to your product and start-up journey You are growing the product. Don’t go for high funding initially from investors Angel Investors..

40. At the beginning stage  get money from anywhere w/o valuation First Round (Internal)  Mostly by founders External Rounds  Friends and Family ( upto 50L) Investor round  Angel Investors (50L – 3Cr) VCs (3Cr – 10Cr) Raising Funds

41. Don’t worry about profits.. But about the revenue (in the beginning) All startups in the beginning are loss making- oyo , flipkart , paytm , amazon mcdonalds-1997 was loss making for 18 years- first time profit in 2018 Try to be Self sustainable model How startup get valued so much Intrinsic value, scalability Raising Funds

42. Pitch Follow –ups (multiple) Valuation and negotiation Terms Sheet Legal and financial due diligence Agreements (Share holder agreement) Money In The Bank (MITB)! Typical Steps in getting investments

43. Before 2017: 5 years, < 25 crores, Innovate After 2017: recognized by startup india initiative, as per department of industrial policy and promotion upto 7 years; registered firm; turnover per year < 25 crores for the 7 years; innovation; wealth creation; employment generation Start-up Definition as per Govt. Of India..

44. Incorporating Start-Ups Private Limited Company Professional Investors take you more seriously Compliance are more Liability on entrepreneur is low Divident - taxation 2 ways Minimum 2 Directors Limited Liability Company (LLC) Easier Taxation Slow Minimum 2 Directors

45. Legal and regulatory www.mca.gov.in https://dipp.gov.in

46. Legal and regulatory

47. States start-up Organisations: www.msins.in https://beabihar.in https://hyderabad.tie.org/ Incubations centres at IITs https://sineiitb.org/ Seed fund- 10 Lakh + Incubation https://www.birac.nic.in/ sparsh DST (Department of Science and Technology) https://dst.gov.in Funding Agencies

48. Vision To be all-encompassing start-up ecosystem that nurtures innovation and research in budding entrepreneurs helping to propel the world into the future. Infra Available Hardware Labs (PCB Fabrication and development, 3D printing etc ) Workshops (mechanical and electrical) Conference rooms / Training rooms / Co-working space Bio Tech Labs Soil Testing Labs Irrigated farm lands under Krishi Vigyan Kendra Artificial Intelligence labs Mentors Technology Experts, Industrialist, CA’s, Lawyers, Agriculture scientist Website ( http://www.iic-india.org ) Ignition Incubation Center

49. Ignition Incubation Center – Incubatees Founder – Vijay Yelmalle Start-up – Centre for Research and Alternative farming technologies Speciality and Innovation: Hydroponics Aquaponics Founder – Piyush Kumar / Shrishti Arora Start-up – Ignisnova Robotics Speciality and Innovation: Crop monitoring and yield prediction Founder – Prof. Srihari Gaikwad Start-up – Intellect System and Automation Speciality and Innovation: Customized Tech Solution