Youth Entrepreneurship Takes Center Stage at IIM Bangalore
28 July, 2024, Bengaluru: The Indian Institute of Management Bangalore (IIMB) threw its gates open to the school students on Sunday, July 28th, for an event aimed at empowering the next generation of entrepreneurs. "Youth Udyami," organized by the students of the Executive Post Graduate Programme (EPGP) and Post Graduate Programme for Enterprise Management (PGPEM), brought together aspiring young entrepreneurs with a mission to foster entrepreneurial talent among the young aspirants.
The event received an overwhelming response with over 300 registrations, out of which 50 students from various schools across Bangalore were shortlisted to present their ideas. Professor Amar Sapra, Chairperson of the EPGP, encouraged the students to become enterprenuers and said – “To be successful in a new venture, entrepreneurs not only need a good business idea, but they also need plenty of luck. Some succeed in their first attempt, but many fail a few times before they succeed. This is why two qualities necessary to be a successful entrepreneur are persistence and resilience. “. A key highlight of "Youth Udyami" was the mentorship provided by the IIMB students who helped to enhance the business acumen and prepare the pitch for pursuing their entrepreneurial ideas.
Said Omna Kulkarni, a participant, "Our school is inculcating entrepreneurial skill by organising events like Shark Tank and encouraging us to participate in events like Youth Ideathon. This opportunity at IIMB has given us a great platform to further enhance our skills while learning from Industry experts"
Participants gave their presentation on identifying a problem, defining potential customers, developing a financial plan, planning for scaling, and creating a launch strategy. Students from MEGA International school present a unique community-driven green cycle initiative focused on creating artistic jewelry from recycled household waste. Some of the other ideas that were presented includes an online platform for puja planning, a waste utilization app connecting restaurants and compost makers, visual boards for the visually impaired, a digital planner app for neurodivergent individuals, and various other innovative solutions aimed at addressing environmental and societal challenges. Another participant, Abhinav, echoed this sentiment, stating, "Coming to IIMB for this program has been an enriching experience. The mentorship and support has helped us to refine our pitches and provided us with the direction to create a sustainable business model in the future. " A parent who accompanied the students mentioned– “The facilities and support at IIMB are outstanding. The exposure my son is getting through the this event is unparalleled. It's inspiring to see such dedication to nurturing young talent.
The grand finale of this initiative will take place on "Prayaas Day," tentatively scheduled for February 2025. On this day, final 10 applications will be judged by IIMB professors and industry leaders, who will evaluate the business models and provide feedback. As the day concluded, the energy and optimism among the participants were evident. "Youth Udyami" stands as a testament to IIMB's commitment to fostering innovation and entrepreneurship. With the support of the IIMB community and industry mentors, these young entrepreneurs are poised to make a significant impact on India's economic landscape.