Last two sessions of TYE Chandigarh were amazingly educative and intriguing to children, in line with that, the third session started off with high hopes. The children have been enjoying the process of learning team building, ideation and design thinking and were eagerly waiting for the next TYE session.The session touched upon some of the most important milestones for a startup -

• Writing a Business Plan
• Business communication
• Presentation of the Business Model.
• Funding

Writing a Business Plan and Funding:                 

We had the pleasure of attending the very first session of a the day, Writing a Business Plan and Funding by Dr. Manu Gupta , Assistant Professor at UIAMS. There are many startups which look for funding to reach their goal . This funding is provided by the venture capitalists. As per data,Out of 100 startups, over 95 startups fail. He focussed the attention of students on why the 95 startups fail and what exactly are Venture Capitalists looking for in a new startup. The venture capitalists evaluate the amount of money to be invested in business and discuss the amount to be invested with limited partners. We learnt that VCs look for businesses which have the potential to be converted into a Billion Dollars business.

He shared the most important 8 steps of writing the Business plan with Company Description, Competitive analysis and market analysis being some of the most important steps.He apprised the students with the path of cash flow in a business with Capital Expenditure and Working capital being the 2 main classification categories. Knowledge on revenues, Assets, Buying and Selling the business, and factors controlling the Business were also shared with the children.

Dr. Manu emphasised on promoting a scalable business which has hidden opportunities and potential to grow. The students were fascinated with the beautiful real life examples given by the professor and the feedback from  the class was very positive, some of them felt the session was very new, unique to their understanding,thrilling interactive and worth the time and energy. As Arman, a student noted that the examples given in the session were very unique and interactive.

Business Communication:

The next session was delivered by Prof.Gunmala Suri, professor at University Business School on Business communication. It was a very fun interactive activity session where the students did some activities to enhance the communication of the group. The aura of Gunmala ma'm filled the whole atmosphere with laughter and joy.

The activities included: 

• * Chinese whisper game,
• * sharing the good and bad with each other and, 
• * building emotional trust.

The session encouraged the participants to come out of their zone to be particular,attentive and interactive. Students immensely enjoyed a light fun session which entertained and changed the whole vibe of the auditorium. Asmi and Omja, both the students found the session very informative and were happy to attend it.

Presentation of Business Model:

We headed towards our final session and welcomed Mr.Mohit Bansal, the founder of DeckRooster – A presentation Design studio. He shared his experiences and ideas of presenting a business model to the Venture Capitalists for Funding precisely called as a Pitchdeck. He laid stress on the fact that purpose of the first idea is to get to the second improved idea and so on. According to him, the most important asset of a business is it’s Founding team, their vision and their commitment.

For presenting a business model, the Pitchdeck should clearly mention the problem and it’s solution by the startup. For new people to adapt to a new product, Mr.Mohit familiarised children with a Delta 4 proposition which is a very easy approach to decide the market diversion. He explained the importance of accepting the ideas and moving forward with the same dedication and passion. The session ended with the Q and A round where the children opened up their doubts and the speaker addressed them in the best manner possible. Satvik, a student attending the session summed up the experience stating, "Got to learn a lot about Pitchdeck , Business plans and funding". 

A token of thanks was conveyed to all the Speakers of the evening who spared their valuable time and shared their experiences with our future Entrepreneurs. Ms.Ritika Singh, Mr.Harit Mohan kept  sharing their experiences and knowledge throughout the whole session with our upcoming Entrepreneurs and made the session even more enthralling and exciting for us.

Tutortot is proud to be the official blogging partner for TiE - TYE program. May we inspire the spark in the young students.  Contact Mr Davinder Pratap Singh, TYE incharge for TiE - 97815 14111 for more information on Young Entrepreneurs program. Until then, Live, Laugh and Learn. We will be back soon with more "Tricity Bits & Bytes". Contact tutortot at 82890 92379, we would love to hear from you.