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shameemIt should come as no surprise that two-thirds of all inventions come from small entrepreneurs. Such inventions not only create new products and services but also improve competitiveness by increased efficiencies & reduced costs. They create new business models that leverage new technologies and reach out to a globalized marketplace. Creating and nurturing a favourable climate for entrepreneurship to flourish, therefore, becomes extremely critical for the growth of any economy. It is just the matter of time when large corporations would start depending heavily on Startups for their continued innovation and growth – which now is at its nascent stage.

Apart from the cost-effective and cutting-edge innovations, these Startups are supposed to be the leading employment generators in the days to come.

IIM Visakhapatnam is committed to playing a constructive role in contributing its bit to the overreaching goal of inclusive and equitable development of the nation as a whole and the state of Andhra Pradesh in particular. And this will happen when we not only produce world-class managers but also nurture nascent ventures in their journey from Ideation to Implementation and help them transform them into innovators and employers of tomorrow. With this in view, the Institute has taken the first step by partnering with the N. S. Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIM Bangalore (IIMB), to promote women start-ups in the region, though the Women Startup Program (WSP).

WSP through its “Do Your Venture” Massive Open Online Course (MOOC) trained more than 6000 women participants from across the nation (1500+ being from the AP/TS region). Thereafter, 300 women entrepreneurs-to-be were shortlisted for a boot camp held at partner campuses (IIM Visakhapatnam being one of them), where they received classroom instructions on communications, customer interaction and idea validation. From the 300 aspirants, 100 applicants were selected for a 10-day long second boot camp at IIMB campus, where they received classroom instructions on developing a business plan, understanding costing and pricing, sales and marketing, and negotiation skills. In the last phase of the program, 26 (from AP/Telangana region) of the top 100 women will have their business ideas incubated for a year at IIM Visakhapatnam.

With the support from the NSRCEL (IIMB), in-house faculty members, student bodies (especially Entrepreneurship and passion Club), IIMB & IIMV alums and a small and dedicated team, we are working hard to contribute our bit to the entrepreneurship ecosystem development in the country. We are working to link the academic life with business reality through training programs, incubation, research and mentoring. We create a unique synergy between the management and entrepreneurship cohort in the campus.

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