THE NEXT UNICORN
STARTUP AND ENTREPRENEURSHIP WORKSHOP
Venue: World Trade Centre, Bengaluru
Date: 11 March, 2017, Saturday, 5.00 p.m to 8.00 p.m
IIFCS conducted – “The Next Unicorn”, a startup and entrepreneurship workshop for various startups, aspiring entrepreneurs, and existing players in the industry. The workshop was conducted to train the participants in the practical aspects of Business Modelling, Business plan and Business Pitch. This workshop enabled the entrepreneurs to learn the fundamentals of a business and take knowledgeable decisions in their endeavor.
Over 100 enthusiastic entrepreneurs attended the workshop. It was a motivating factor to know that few participants came from various parts of the country to learn from the workshop. The workshop witnessed audiences from different industry verticals viz., Advertising, Edutech, Fintech, IoT, Medical, Accounting and Legal profession, Tourism, Consultancy, Hospitality, Sports, etc.
The panel discussion was one of the major highlights of the workshop, where many challenges and difficulties faced by the startups and entrepreneurs were discussed. Industry experts – Mr. Manas Agrawal, CEO & Co-Founder, Affine Analytics and Mr. Ashwin Sreenivasan, Partner & Co-Founder, Vruddhi Partners, were the featured members of the panel and the discussion was moderated by CA Ganesh Kumar B.N, who was also the main speaker and trainer of the workshop.
Objectives of the panel discussion:
- To give practical insights relating to the challenges faced by the startups.
- To understand the myths and truths in the entrepreneurial journey.
- To guide on dos and donts for the startups
- To advise what investors expect from the startups while funding.
Key takeaways from the panel discussion:
The discussion among the three was so remarkable that made each and everyone in the audience felt that the speakers were addressing their issues in specific. Below were the key points of discussion:
- What makes a Startup Fundable (from investors’ perspective)?
- What are the various stages where funding is made?
- Why do the startups fail?
- What are the myths the Startups carry while approaching the investors?
- Importance of “Focus” in conducting a business.
- Why Startups think they can’t fail?
- Blue Ocean and Red ocean – market strategies.
- What are the risks the investors are concerned about?
- What are the key things startups should have?
- What excites the investors?
- Whether should a Startup go for funding or not? If yes, why and when?
The panel discussion ended with resounding applause from the audience.
Followed by the panel discussion, CA Ganesh Kumar B N took over the workshop in his usual vibrant style. With his profound knowledge and vast experience, Ganesh caught the pulse of the audience.
Session 1: Designing a Business Model
- Explanation of the Unicorn Business Model concept.
- Hysteria behind the Unicorn Model and how Unicorns are measured.
- Comparison of Unicorn business model with American Economy.
- Differences between Artificial and Real Unicorns.
- Fundamental concept of a business model
- Practical examples illustrating the line – “Every business should have a business model”
- Whether the Business Model should be self-designed or outsourced?
- Meaning and components of a Business model.
- Importance of Revenue model with practical insights.
- Customer acquisition and retention techniques.
Session 2: Business Plan
- Fundamental concepts of a Business plan.
- Importance of writing a business plan.
- What investors look for in a business plan?
- Components of a business plan.
- Drafting a financial plan.
- Dos and Donts in a financial plan
Session 3: Business Pitch
- Basic concept of Pitching
- Main structure of Business Pitch
- How to grab the investor’s interest?
- Art of storytelling in Business pitch
- Do’s and Don’ts while pitching
The learning kit provided at the workshop helped the participants to note down crucial points applicable for their businesses.
Q & A Session
At the end of the session, many doubts and questions were asked by the participants. Ganesh answered each one of them with explanations and clarifications.
2017 Startup Program Launch
Coming to the ultimate part of the event, IIFCS launched a series of Entrepreneurship and Startup Program with enhanced curriculum for the year 2017. The program is well designed by IIFCS after conducting intensive research and deliberations with various entrepreneurs, investors, startup community, professionals, mentors and strategic advisors.
More details about the program: Click here – IIFCS-Startup Program 2017
To Register Click – Startup & Entrepreneurship Program – 2017
The workshop concluded with a vote of thanks by Mr. Balraj and the networking sessions began.