Workshop on Business Model Canvas (BMC)
7th - 8th March 2024
Institution’s Innovation Council, (IIC), Ministry of Education (MoE), Dronacharya Group of Institutions, Greater Noida organized a Workshop on “Business Model Canvas (BMC)” on 7th – 8th March, 2024. The eminent trainer of the workshop was Ms. Shilpa (Softage Information Technology Ltd.) B.Tech 3rd year students of all branches attended the workshop.
The workshop was designed to provide engineering students with a comprehensive understanding of how to conceptualize, develop, and analyze business models. Recognizing that innovation and entrepreneurship are key skills for engineers, the workshop aimed to equip participants with the tools to translate their technical ideas into viable business models.
On Day 1, the workshop began with an introductory session on the Business Model Canvas. The facilitator explained the significance of BMC as a strategic management tool, used to visualize and develop business models. The interactive session encouraged students to think critically about the various elements that contribute to a successful business. The day concluded with a hands-on session where students began working on their own business ideas. Using the BMC, they started outlining the initial concepts for their startups. Mentors were available to provide guidance and feedback.
On Day 2, the session focused on refining the business models developed on Day 1. Participants were guided on how to validate their assumptions, test their models, and make necessary adjustments. The concept of the Minimum Viable Product (MVP) was introduced as a way to test ideas with minimal resources. Each student presented their ideas in front of panel of judges. The presentations were followed by a Q&A session, where the judges provided constructive feedback. The exercise not only helped participants improve their business models but also enhanced their presentation and pitching skills.
Objective: Equip engineering students with BMC skills to turn technical ideas into successful businesses.
Benefits: Students learned to refine presentation and pitching skills and create viable business models.