BOOT CAMP
Catalyst for Creativity: A Deep Dive into Innovation, Prototyping, and Startups
18th - 20th January 2024
Institutions’ Innovation Council (IIC), Ministry of Education (MoE), Dronacharya Group of Institutions, Greater Noida organized a bootcamp on “Catalyst for Creativity: A Deep Dive into Innovation, Prototyping, and Startups” from 18th -20th January 2024. 150 students attended the bootcamp.
The objective of boot camp was to guide students so that they can transform their innovation into a valid solution.
Day 1 (18th Jan 2024): Session on “What are the challenges in the Startups”
On the first day of bootcamp, a session on “What are the challenges in the Startups” was organized. Mr. Jitender Kumar (DGM – North and East Region – Seco Tools and India Pvt. Ltd.) was the resource person of the session. Mr. Jitender Kumar emphasized, startups do not only fulfill the dreams of young aspiring entrepreneurs but also bring economic stability for a nation. Thus it is important to discuss the challenges that lead to failure of a startup.
He proceeded to outline the primary challenges encountered by Indian startups in the market. A significant cause of startup failure, as Mr. Kumar highlighted, is a misalignment with market demand. He informed the students, 42% of startups in India fail because there is no genuine need for their product. Mr. Kumar emphasized the importance for entrepreneurs to thoroughly analyze market needs and develop solutions accordingly. Furthermore, Mr. Kumar discussed the common struggle of aspiring entrepreneurs to secure funding for their ventures. Despite having promising ideas, many find it challenging to identify suitable technical partners to bring their products to life. He also underscored the necessity of forming a cohesive team that shares a unified vision. Unfortunately, startups in India often struggle to overcome these obstacles, leading to their downfall in the initial stages.
The session ended with a vote of thanks from the (Prof.) Dr. S.K. Srivastava (Registrar). He thanked Mr. Jitender for the enlightening session. The students were excited and inspired by the informative session.
Day 2 (19th Jan 2024): Exposure Visit
On the second day of the bootcamp an exposure visit was organized to Supreme Industries Ltd with an objective to provide an ample knowledge innovation and growth and to cultivate knowledge and insight into key areas such as marketing strategies, operations and research and development (R&D).
Day 3 (19th Jan 2024): Debate Competition
On the third day of boot camp a debate competition on topic “Unicorns vs. Small Businesses: Balancing Growth and Sustainability”
Students were divided into two groups. Group A: Argues that India should focus on creating more unicorn startups to compete globally and attract investment. Group B: counters, advocating for the importance of nurturing small and medium enterprises (SMEs) for job creation and local economic development.
The debate intensified during the rebuttal phase, with both teams presenting compelling arguments to refute their opponents' claims. Team A countered by emphasizing the potential for unicorns to drive technological disruption, while Team B highlighted the risks of over-reliance on unicorns and the importance of supporting grassroots entrepreneurship.
The panel of judges deliberated on the arguments presented by both teams. After careful consideration, Team B advocating for small businesses was declared the winner for their compelling case on the importance of local economies, sustainability, and community impact.
Objective: To guide students so that they can transform their innovation into a valid solution.
Benefits: students were motivated towards entrepreneurship, it challenges and how to transform idea into startup.