LM Thapar School of Management (LMTSM)
LMTSM Gives Push To Entrepreneurship through Seed Money Contest, Presents Rs 5 Lakh to Best Start-Up Ideas


* Winners will also get free workspaces at Thapar Venture Lab and assured assistance from various support organisations and start-up-friendly agencies
* The incubatees can also recruit student interns from Thapar University

3rd March 2015: With the aim of encouraging entrepreneurship among enterprising individuals and empowering them to launch sustainable business ventures, the LM Thapar School of Management (LMTSM), Dera Bassi conducted a seed money competition for early-stage start-ups where start-ups with the best business plans were presented cash awards amounting to Rs 5 lakh.

They will also be provided free workspaces at Thapar Venture Lab, which aims to develop a holistic entrepreneurial ecosystem in the northern region, and assured assistance from various support organisations and start-up-friendly agencies. The incubatees can also recruit student interns from Thapar University.

Corporate early-stage start-ups from various fields like education, travel and health and students from leading business schools across the country like Narseemonjee Institute of Management Studies (NMIMS), Mumbai, IIT Delhi, BITS Pilani, NIIT University and of course the hosts, Thapar University, participated in the competition.

The business plan presented by edulyft, a venture of BITS Pilani students which aims to clear the clutter of chaotic test preparation routines, was adjudged the best and bagged a cash prize of Rs 1.5 lakh.

"We have decided to host this activity every year in our effort to build an ideal entrepreneurial culture by transforming social enterprises into viable business models. There is a dire need for social entrepreneurship to reduce social and regional inequalities. Tier-3 cities like Dera Bassi need more such entrepreneurs," said LMTSM Director Dr Padmakumar Nair.

In the three-phase "Ankurit" contest, the p articipants first submitted executive summary of business ideas along with their credentials. The 30 shortlisted teams were then provided a half-day competency-building workshop in collaboration with IIM Ahmedabad's
Centre for Innovation, Incubation and Entrepreneurship (CIIE). The 15 finalists decided on the basis of executive summary of business ideas eventually took part in "Ankurit".

About LM Thapar School of Management (LMTSM)

Set up in 2007 with the avowed objective of equipping technical graduates with the managerial skills necessary to rise through the corporate hierarchy, the LM Thapar School of Management (LMTSM), the business school of Thapar University, Patiala, is redefining the paradigms of management education to take it to the next level.

Grounded in the ethos of sustainability and inclusiveness, LMTSM is committed to architecting a new business world order, where what is good for corporations will be good for all stakeholders, by developing professionals who are adept at creating and propagating sustainable and ethical management practices. Based on the fundamentals of ethical decision making, inclusive human resources management, sustainable strategy development and entrepreneurial growth, this management school seeks to develop a new Indian business model by combining multiple economic and social models with technology as a backbone to create strategies for success, a novel concept that sets it apart from other business schools. With precisely this in mind, this B-school has 'New India starts here' as its motto.

Spread over 26 acres, the hi-tech LMTSM campus in Dera Bassi, near Chandigarh, has Wi-Fi-enabled smart classrooms with digital podiums and IP cameras for web streaming and surveillance. Fully equipped with Wi-Fi connectivity (internet bandwidth of 45 Mbps) through a centrally managed access point, the campus offers the
flipped classroom concept to enable students to access their assignments, library or study material at their own comfort, using the Learning Management System. It also provides access to bulletin boards and web kiosk via Android and iOS mobile apps.

LMTSM is actively involved in collaborative programmes and has signed several MoUs with international universities of repute, like Trinity College Dublin, University of Texas at Dallas, USA; University of Twente, Netherlands; Free University, Amsterdam, Netherlands, and University of Waterloo, Canada. It has also entered into tie-ups with foreign universities for student and faculty exchange programmes. Thanks to LMTSM's strong interface with the industry, many of its passouts have secured placements not only in companies like IBM and TCS, but also in government organisations like RBI and BHEL.

About Thapar University

Ranked among India's leading institutions of engineering education, Thapar University in Patiala, Punjab has redefined technical education in the country through dissemination and application of actionable engineering knowledge. A steady source of highly skilled manpower to top Indian and overseas corporates, the sprawling 250-acre Thapar Technology campus, consisting of Thapar University, Thapar Polytechnic and Thapar Centre for Industrial Research and Development (TCIRD), has an extraordinary potential for development of indigenous technology and its transfer to engineering industries.

Standing tall on the four pillars of cutting-edge research capabilities, highly accomplished faculty, enviable infrastructure and smart academia-industry linkages, the 58-year-old university continually reinvents itself by upgrading its curriculum to match global needs through periodic self-assessment and formal reviews. One of the eight institutes selected by the Department of Science and Technology, Government of India for setting up a Centre of Relevance and Excellence, Thapar University sets a new benchmark in technical education with each passing day.

The university's Science and Technology Entrepreneur's Park, which was established as a joint venture between
the National Science and Technology Entrepreneurship Development Board, the Union Department of Science and Technology and Thapar University (TU) in April 2005 , is a centre for business incubation that is playing the role of a catalyst in the micro, small and medium enterprises (MSME) sector by tapping new business opportunities through commercialisation and transfer of technology.

About Venture Lab Thapar

Thapar University in collaboration with the Venture Lab International of the University of Twente, the Netherlands has conceptualised Venture Lab-Thapar, with a focus on developing holistic entrepreneurial ecosystem that will work towards bringing back the entrepreneurial spirit of Punjab and the surrounding areas by providing technological, financial, infrastructural and strategic support to budding social and commercial entrepreneurs from within and outside Thapar University. Areas of focus include: Social Enterprise, Technology led enterprises, Product Co-Creation Concept with community and Agri-value chain Enterprise. Venture Lab has begun operations only recently and wishes to develop an incubation model that helps it achieve its multi-pronged vision.

RESULTS OF THE COMPETITION

Startup

Description

Institution

Position

Seed Grant Given

edulyft

edulyft aims to clear the clutter of chaotic test preparation routines

BITS Pilani

1

Rs.1,50,000

bananamedia

Banana Media shows how can notebooks be used as a marketing tool

IIT (Delhi)

2

Rs.1,00,000

Srjna

Experiential learning to enable students to learn and understand the concepts rather than mugging them up 

IIT (Delhi)

3

Rs.1,00,000

Bhooka.in

Help people discover the new varieties of street food.
Table reservation and food pre-ordering is a feature that no website is having till date, which saves a lot of time.

Thapar University

4

Rs.50,000

Acha tutor

Helps find the right kind of tutors for your needs with acha tutor at your rescue.

 

5

Rs.50,000

eWools

Portal for marketing hosiery and woolen garments from Ludhiana

 

6

Rs.50,000


 
 

Source: By E-mail (March 3, 2015)

Published on IndianMBA.com on March 3, 2015

 

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