Entrepreneurship in Campus

Volume 1: New Opportunities

Amidst the herd with narrowing vision and mediocre ambitions, there you are, with a flicker of light still alive in your eyes. But upfront approaches a storm, threatening to blow out the last of your flame.

What do you do?

You grip the nearest tree, or its next-nearest neighbor and do not let go.

Well, this is what has been happening in the “gusty” placement season so far. Under numerous pressures, whether it be from the peer group, family or fear of doing something offbeat; students often look away from their own goals and settle for a 9-5 routine. In the times of ever so bustling entrepreneurship activity, if our ambition is snuffed out in such a facile manner then we cannot expect to produce leaders or even thinkers for that matter from our ranks. 

DPP

This is the problem that the newly instated Deferred Placement Programme aims to curb. The DPP was proposed by Mr. Pratyush Rai, President Students’ Gymkhana ‘18-19 towards the end of August’18.

IIT Kanpur has the potential to give great technical and non-technical startups to the nation. But many students take up jobs because of the responsibilities or pressure from their family to go for a decent job, to settle as soon as possible. DPP allows the students to defer their placement season up to a couple of years later. These couple of years can be utilized by students to focus their time and efforts completely on their ventures with no academic pressure of any sort.

Mr. Mayank Chauhan, ex-Overall Coordinator E-Cell opines, “As the number of entrepreneurial ventures increases in the campus, it is not practical to cater to these startups on a case to case basis, we rather need sustainable institutional frameworks which facilitate the campus entrepreneurs.”

The decision of not sitting in the placements is huge for a student. With the DPP, they will have a backup plan in case their startup doesn’t take off. Mayank concurs, “Such a support system would ensure that in this protected environment, people get the opportunity to take their first step towards entrepreneurship. Also, it makes them capable of making more informed choices about their future.”

The details of the procedure for applying are yet to be finalized in consultation with the SPO Chair.

A point in the DPP policy that demands thought is the proposal of “freezing” the CV of candidates as it were during their penultimate semester for the purpose of sending to potential recruiters by the SPO office. Pratyush added that the policy was included after due deliberation and consideration of similar programs in IIMs. This particular policy though seems to be conservative, but it does not mean that the experience and skills of the candidates acquired during their startup stint will be thrown under the rug. The DPP candidates will be applying as “Alumni” in the placements, thus distinguishing them from the regular students. This can also be thought of as a check for the sincerity of the participants.

What if the motivated students got to have a stint with entrepreneurship, as an official institute run program, well before the final “reckoning” that the placements are? Enter Summer Undergraduate Entrepreneurship Programme, this is another gem in the pipeline.

SUEP

Just as SURGE has complemented the opportunities for students interested in the field of Research right from their second year, SUEP aims to do that for students interested in the field of Entrepreneurship.

SUEP was proposed in the first week of Feb’19 by Mr. Pratyush Rai(ex-President Students’ Gymkhana), Mr. Mukund Maheshwari (ex Overall Coordinator, E-Cell) and Mr. Tanay Anand (ex-Head, E-Cell) and was accepted by the committee as proposed.

SUEP will allow students who have completed their 4th semester to invest their summer break into their own start-up and hopefully build up their own businesses. Nurturing the flair of entrepreneurship right from such an early stage gives students a head start into their careers. Since the program has a proper supervisory and guidance structure in place, the students have a support system while also having freedom. The students will also be provided a stipend for the duration of the program. The program also enables students to explore their entrepreneurial interests and decide for themselves. This is good not just for them but also for the institute.

Mr. Rhythm Pathak, Officiating President Students’ Gymkhana, briefs, “SUEP will be implemented from next summer onwards. The program is important to nurture the spirit of Entrepreneurship in students from an early stage so that they can see this as a career option and pursue it.”

Mr. Tanay Anand adds, “Building a product from scratch to making its business plan and maybe testing it in the market is one of the best ways you can spend your summers. It is different from other projects because you try out every innovation you can think of in your product.”

Addressing the problem of expedient attitude wide-spread in the junta he further added, “This program would really be beneficial if the students continue working on their startup even after summers and not just use it as a point in their resume.”

A notable recommendation by the committee is that the members of the team who wish to continue to work on their venture after the summer recess shall have to furnish an undertaking stating that she/he will not cite participation in this program as a reason of poor academic performance.

The proceedings of the program have already been finalized. 

The evaluation will be done in two phases after an initial screening of the students done by a committee appointed by SIIC. While the panel for mid-term evaluation will consist of members from AA and Professors appointed by the institute, the final evaluation committee will be even more diverse. It will consist of Venture Capitalists, Serial Entrepreneurs, Angel Investors, Startup Mentors, etc.

With the addition of such great initiatives to support aspiring entrepreneurs on campus, the mantle is now upon the students to make the most out of these opportunities. As both of these programs will be implemented for the first time, it is essential to have a positive outlook towards them. That being said, it will be the responsibility of the students, especially the participants, to provide necessary feedback to make these programs an essential part of the entrepreneurial identity of the campus.

Credits – Rishabh Ramola, Gaurang Sultania; Edited by – Yash Kuwade