JBIMS-Mumbai Hosts Entrepreneurship Game 'Product Innovation Challenge'

JBIMS-Mumbai Hosts Entrepreneurship Game 'Product Innovation Challenge'

Recognizing the need to foster and incorporate a business thought-perspective and an enterprising attitude within the management students, the Entrepreneurship Cell (E-Cell) of JBIMS has initiated a series of entrepreneurial events.

After an overwhelming response for the first event "Marketing Maestro", JBIMS is launching its second entrepreneurial venture "Product Innovation Challenge". Whilst Marketing Maestro gave students a platform to master the art of selling, Product Innovation Challenge goes one step further wherein students would be involved right from conceptualizing to creating and marketing an innovative product.

The essence of this event is that the teams do a need gap analysis, understand the pulse of market, meet the manufacturers and create a saleable prototype of the product. This will provide students with a unique exposure to real life business experience of creating a new entrepreneurial venture.

The first round of the game held on 24th February 2007 saw six teams competing for the coveted title of "Product Innovator". The teams came up with innovative ideas and business plans including a laptop charger converter, steam-based cleaner and a flavored straw. Ms. Purvi Sheth, a renowned entrepreneur and a leading HR consultant, along with respected college faculty members judged the event. The panel was overwhelmed with the teams' out-of-the-box ideas.

Subsequent to the game, to provide entrepreneurial insights to students and hone their business skills, E-Cell conducted a workshop "Mastering a Perfect Business Plan", which focused on idea generation and execution. The workshop was followed by a lecture from Mr. Rajesh Jog, a venture capitalist and founder of Waygate Capital. He gave students a holistic perspective on how a venture capitalist would evaluate and fund business proposals.

The quintessential quality for becoming a successful entrepreneur is to think out-of-box and innovate. E-Cell, JBIMS believes that this event will develop in students the ability to understand market dynamics and effectively convert opportunities into feasible business propositions.

Concluded.

Contributed by -
The Corporate Relations Committee,
Jamnalal Bajaj Institute of Management Studies, Mumbai.

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