Turning a side project began in college into a full-fledged venture calls for a mix of the proper assistance from mentors, a faithful staff, enough planning, capital, hard work, and some simple luck. A college project is simply a college project. Something did for fun and grades, of course, in a make-belief circumstance with not way too many risks involved. But when several of these tasks are applied in real-life and wind up making money, the journey becomes rather different. Many startups started as opinions that students talked about in classrooms, with the correct guidance, preparation, some luck, and hard work, have turned into full-fledged ventures.
“During the time in Wharton in 2011, I’d joined the entrepreneurship club at the school. It was simply meant to make a platform to allow our ideas to develop, to have materials for research and be in a position to speak and present the ideas to not only peers but also investors and mentors. That’s when I began researching about a homegrown brand which may market Indian art and handicrafts to individuals settled within US and Canada,” affirms Mansi Gupta, 36, founder and chief executive of Tjori, a custom handmade accessories brand.
Bharat Kumar, 26, also came up with the thought of TheVerb Studio, a wedge that provides online dance classes, in 2014, while he was still studying. In the last session at the National Institute of Technology, Tiruchirappalli, Kumar and his friends made the decision to study the need for learning dance. Becoming a part of the NIT dance team, they were aware of just how tough it was accessing quality courses in the nation and then made the decision to find a solution. They worked on the thought of TheVerb Studio for 8-9 months, had taken part in the Indian Institute of Management (IIM) Bangalore’s annual business program festival and won.
“The thing was we all have been friends from college and were enthusiastic about that. I believe it aided that we were younger and weren’t scared to take chances. Perhaps, in case we were older and had responsibilities, we would not have left everything to establish TheVerb Studio,” states Kumar. He adds that the original founding team is essential since they have to share the vision. “We could not pay anyone that worked with us for the first couple of months and needed to have confidence in each other.”
Raghavendar Reddy Bojja and Yuvaraju Atmakuri, who released MySuperBrain, an e-gaming platform aimed at creating kids sharper in 2011, also began thinking about their concept while they had been studying at IIM Kozhikode. “We both understand the strengths and work and weaknesses accordingly. And perhaps since we were in university, we’d adequate time to talk about the idea. If we’d begun talking about after daily life, maybe work, and college would come in between,” says Bojja, 34.
Student motivation and interest are a great deal, thinks Dalhia Mani, professor of entrepreneurship at IIM Bangalore. Additionally, she states, there is a mix of several other things that lead to success, like students that are exposed to a wide selection of contexts are better in a position to determine interesting problems that could have a solution. “The ability to come together well as a team and find individuals that could assist them with certain expertize is also beneficial. We encourage students to take an experimental strategy of error and trial, and not be fearful of failure. It’s also essential to truly listen to clients and be versatile in replacing the first concept to respond to consumer needs,” adds Mani.